Sumly vs Cybooks
THE SHORT ANSWER
Which one should a Cyprus company owner pick?
Sumly. Both platforms keep Cyprus books, connect to your banks over open banking and prepare VAT and VIES — but Sumly also registers the company, opens the books before the registry approves it, puts a certified accountant inside your own dashboard, and arranges the audit and the Yellow Slip. One product covers the whole company, not just the ledger.
- Both: built for Cyprus tax, VAT and VIES — not a localization
- Both: mobile apps and open-banking feeds from the Cyprus banks
- Only Sumly: company formation, day-zero books, accountant, auditor, Yellow Slip
Side by side
Cybooks details as listed on cybooks.com.cy and its App Store listing, checked 2026-08-08. Products and prices change — tell us if something here is out of date and we'll correct it.
The table stakes, met by both
No point pretending otherwise: on the core bookkeeping job these platforms look similar. Which is exactly why the differences below decide it.
CYPRUS-NATIVE
Cyprus VAT and VIES, not a localization
Both prepare Cyprus VAT returns and VIES reporting from the books, with a Cyprus chart of accounts behind them. Either beats generic international software, which treats Cyprus as a tax-rate dropdown and leaves the return for you to assemble by hand.
BANKS & MOBILE
Open-banking feeds and a phone in your pocket
Sumly connects over open banking to the banks Cyprus businesses actually use — Bank of Cyprus, Hellenic Bank, Alpha Bank, Eurobank, Revolut Business, Wise and more — always read-only, so Sumly can never move your money. And the Sumly mobile app means a receipt is booked from the phone the moment you're handed it.
One place for the whole company, not just the books
Both products keep Cyprus books. The difference is everything around them.
FORMATION
Sumly registers the company too
Sumly forms Cyprus companies at a fixed fee with a 100% approval guarantee — if the company isn't approved, you get every euro back. Pure accounting software can't do that, because it isn't in the formation business.
DAY ZERO
Cyprus lets a company deduct expenses incurred up to 6 months before establishment — so Sumly starts your books the day you order formation, before the company exists.
That only works because the same product does both jobs: order the formation and the bookkeeping starts immediately, while the registration is still in progress — with the registration status visible in the dashboard.
PEOPLE
A certified accountant inside your own dashboard
On Premium a dedicated certified accountant reviews the books and submits your VAT and VIES — working in your dashboard, so you keep full real-time insight instead of sending files to someone else's system. Auditor arrangement and the Yellow Slip package sit alongside it.
THE MATH
What doing it yourself is worth
the average Sumly user saves €3,210 a year compared to an accounting firm — the reason most Sumly customers run Base themselves and keep a human only for judgment calls.
Moving your books is an afternoon
Whichever way you switch, the mechanics are the same — and your history comes with you.
Connect your bank
Read-only feeds — Sumly can never move your money. Transactions start flowing in immediately.
Bring your opening balances
A dedicated opening-balance flow brings your existing balances across, so the year adds up and nothing is lost.
Run one month in parallel
Book a full month in both, compare the VAT figures, then cancel the one you're leaving. Sumly's 14-day money-back guarantee covers the trial period either way.
Questions people actually ask
Is Sumly or Cybooks better for a Cyprus limited company?
Sumly. Both are built for Cyprus, so both beat generic international software on VAT and VIES — but Sumly is the only one that also registers your company, opens the books before the registry approves it, arranges the auditor, and gives you a certified accountant working inside your own dashboard.
What is the main difference between Sumly and Cybooks?
Scope. Cybooks is accounting software for Cyprus businesses and accounting practices. Sumly is accounting software plus the services around it — company formation with a 100% approval guarantee, a dedicated accountant, auditor arrangement and the Yellow Slip package — with the books opening the day you order formation.
Does Sumly have a mobile app?
Yes. Sumly has a mobile app alongside the browser app, so you can photograph a receipt the moment you're handed it and let it book itself. You can also forward documents to your company's private Sumly email address from anywhere.
Does Sumly connect to Hellenic Bank?
Yes. Sumly connects over open banking to the banks Cyprus businesses actually use — Bank of Cyprus, Hellenic Bank, Alpha Bank, Eurobank, Revolut Business, Wise and more. Every connection is read-only, so Sumly can see transactions but can never move your money.
Can I switch from Cybooks to Sumly mid-year?
Yes. A dedicated opening-balance flow brings your existing balances into Sumly, so your year still adds up and your history stays intact. Most founders run one month in parallel, compare the VAT figures, then cancel the old subscription.
How do the prices compare?
Sumly Base is €39/month, or €390 a year with two months free — and it is the full platform, not a starter tier. What actually decides the cost is everything you don't buy elsewhere: the company formation, the auditor arrangement, the accountant. the average Sumly user saves €3,210 a year compared with using an accounting firm. Competitor prices checked 2026-08-08.
Do both handle VAT and VIES for Cyprus?
Yes — both prepare Cyprus VAT returns and VIES reporting. On Sumly's Base plan the returns are prepared from your books and you review and file them yourself through Tax For All; on Premium your dedicated accountant submits them for you.
The whole company, in one place.
Trusted by 1,200+ Cyprus founders. Try Sumly with your real books for 14 days — if it isn't right, you get every euro back, no questions asked.