Accounting and bookkeeping services in Dubai, UAE. keep track of funds and are essential for any company, whether it is a startup or an established one, to make strategic decisions. Accounting and bookkeeping services in the Dubai ,UAE are essential for a company's success. The process of keeping records of financial activities and preparing financial statements, such as a balance sheet and profit and loss account, is known as bookkeeping services. Apart from tracking receivables and payable accounts, maintaining books of accounts has become an obligatory compliance obligation as a result of several legislation.
Accounting is the practice of keeping track of all income and expenses. The accountant provides financial advise based on the financial status of the organisation, guiding it to success. He is a financial strategist who assists with audits, tax planning, and financial counselling for businesses. Outsourcing accounting and bookkeeping services ensures that the company receives professional services that adhere to all applicable rules, norms, and regulations.
Outsourcing accounting and bookkeeping services ensures that the company receives professional services that adhere to all applicable rules, norms, and regulations
Our bookkeeping specialists are all highly qualified, professionally accredited, and have years of experience working in a variety of industries
We will ensure that the books are up to date in all respects, with the help and collaboration of management, so that regular accounting can be carried out in the future
Our team is made up of business valuation experts who are industry experts and will be able to analyse your accounting system in order to maximise profit for your company
By hiring an outsourced accounting firm, you don’t have to deal with the burdens and expenses that come with having in-house employees or doing it all by yourself. Outsourcing accounting and bookkeeping services can reduce a company's costs significantly through savings on salaries, taxes, overheads, and other administrative costs associated with full-time employees. You should outsource your accounting and finance because it allows you to get the specialized knowledge your company needs.
As per UAE Commercial Companies Law, Federal Law No 2 of 2015, every Company is required to maintain proper books of accounts and appoint a registered auditor to get its books of accounts audited every year.
As per UAE Vat Law Every taxable person should keep the record of documents, Article 2 of the Cabinet Decision No. (36) Of 2017 on the Executive Regulation of Federal Law No. (7) of 2017 on Tax Procedures we have to maintain the following books and records
Accounting books in relation to that Business, which include records of payments and receipts, purchases and sales, revenues and expenditures, and any business, and any matters as required under any Tax Law or any other applicable law, including:
Balance sheet and profit and loss accounts.
Records of wages and salaries.
Records of fixed assets.
Inventory records and statements (including quantities and values) at the end of any relevant Tax Period and all records of stock-counts related to Inventory statements.
Additional records as may be required in the Tax Law and its Executive Regulation.
In addition to the Accounting Records and Commercial Books mentioned in Clause (1) of this Article, the Authority may require any other information in order to confirm, through an audit trail, the Person’s Tax obligations, including any liability to register for Tax purposes.
If a taxable person or business fails to keep required records, books and documents, penalty of AED 10,000 will be given and then AED 50,000 if repeated again.
The United Arab Emirates (UAE) has announced plans to impose a new 9% federal corporation tax from 1 June 2023. The rate should be 9% rate on taxable income above AED 375,000, Taxable income should be calculated after adjustments made to the accounting net profit.
We work with all major accounting and payroll software systems. Out technology expertise and staff training facilities allow us to adopt new technologies and deliver with the new software within very short time frames. For small and medium enterprises we use TALLY ERP, However, we are technology agnostic and have the capability to support the existing accounting software used by our clients. Also our sister concern Accruon Technologies provides customers with bespoke software development solutions.
In general, our costs have proven to be less than our clients were paying for their accounting staff. Our fees are based on the volume and complexity of each client. We determine the scope of services and establish a fixed monthly amount so you can manage you budget.
No one can have access to your data without your company’s express permission. We can also set up restrictions so that certain functions can be limited to those you do allow access.
No. You always maintain 100% control of your decision. All we do is to provide the relevant data & information & may give you advice on your request.
ACCRUON CONSULTANTS & ACCOUNTANTS LLC (ACA) established in Sharjah, Dubai, and Ras al Khaima, UAE, as well as Kochi, India. We have a highly skilled team accountants, which includes Indian CAs,ACMA,DISA payroll experts who can help you with all your accounting needs.
We will assign a dedicated and qualified team to your entity, who will assist you in ensuring statutory compliance and providing necessary management reports.