The recording of financial transactions is known as accounting. It is one of the most important aspects of the company. Accounting is the foundation upon which a company's financial decisions that affect its investors and lenders are made. Maintaining account books for the previous five years is required in the UAE. This, combined with the value-added tax (VAT) directives that went into effect in 2018, makes accounting critical to any company's success in Dubai. Accounting services in Dubai can be crucial for an entrepreneur looking to start a business in the emirate, as it is one of the world's leading business hubs.
BENEFITS
Legal Obligation: Accounting in the UAE is more of a corporate law mandate than a result of tax filing requirements. Failure to adhere to accounting standards may result in legal ramifications in the country.
Assisting in the Making of Financial Decisions: Making financial decisions will be simple if you are familiar with your accounting and bookkeeping records. Knowing how much cash you have on hand can help you make decisions about things like inventory purchases and employee hiring.
Health Check of the Company: Accounting provides you with critical information for the smooth operation of your business. It's a good idea to keep track of corporate finance (both short- and long-term). You keep track of all sources of income, outstanding bills, and payroll projections.
4. Anti-fraud and anti-embezzlement failsafe: Fraudulent charges can be caught and payments can be avoided if your financial books are kept up to date Time-Saving Saving: Accounting is a time-consuming task that is, however, fundamental to the success of any business. Outsourcing allows a company to concentrate on strengthening its core competencies while entrusting the rest of its operations to qualified business professionals.
Services We Provide:
Accounts consolidation
Accounts payable outsourcing
Forecasting and projections
Preparation and maintenance of every daily account
Conversion, installation, selection, and support of software
Fixed assets compilation, maintenance, and verification
Recording vendor invoices
Preparation of monthly bank reconciliation statements
Petty cash accounting and reconciliation
Preparation and mapping of the chart of accountants
Verification and valuation of inventory
Preparation of accruals schedule
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