Bookkeeping Services in Dubai
Bookkeeping Services in UAE
Recent studies have shown that bookkeeping can take up to one-fourth of the administrative time that is available to small enterprises. Your primary concerns, as the owner of a business, should be the expansion and the development of your company.
If you want to outsource bookkeeping services to certified bookkeepers in UAE, Farahat & Co may be the best option for you. You will spend less time and money thanks to the comprehensive accounting and bookkeeping services that we provide and enjoy all the advantages of outsourcing bookkeeping services.
Corporate Financial Reporting Requirements in UAE
Keeping accurate records of financial transactions is a fundamental part of running a business in the United Arab Emirates. It is required by Article 26 of UAE Federal Law No (2) of 2015 that every company keep accounting records that detail the company’s transactions. These records must accurately and continuously demonstrate the company’s financial health, and they must also provide a means for partners and shareholders to confirm that the company’s books are being kept in accordance with the requirements of the applicable law.
If you do not maintain statutory corporate accounting records, the UAE Federal Tax Authority may penalize you with a fine of a minimum of AED 50,000 but not greater than AED 500,000 as per Article 348 of UAE Federal Law No (2) of 2015 or “Commercial Companies Law in UAE.” You will also be required to pay more in taxes as a penalty in the event that you submit an erroneous tax return.
How Our Full-Service Bookkeeping in UAE Can Help
We are aware that keeping accurate books is a challenging and time-consuming endeavor that places a strain on businesses that are eager to expand their operations. Not only will bookkeeping services for
small businesses get your accounts in order, but our bookkeeping services in UAE can also make sure they are kept and maintained per government regulations. This is our primary focus. We work hard to ensure that your company is compliant with relevant legislation.
The following is a list of the elements that define our bookkeeping services:
- Organize and categorize all of the receipts you have gotten for accounts receivable and payable
- Make an inventory of all of your assets and list them accordingly
- Categorization of products and/or services sold during the fiscal year that is both accurate and appropriate
- Provide an accurate statement of your goods on hand and any available inventory, if necessary
- All year-end filings to the UAE Federal Tax Authority and their on-time and accurate completion while helping ensure they are in compliance with the regulations
- Maintaining company bookkeeping and accounting procedures in full compliance with the requirements of the UAE Commercial Companies Law
- The recording of acquisitions and purchasing orders
- Make sure that your VAT returns are filed on time
- Payroll that is streamlined and more efficient
- Creating statutory accounts and all other financial statements for the end of the year
You will also work in collaboration with a dedicated member of the staff here in Farahat & Co. Our team is comprised of certified accountants in UAE and the experts will keep a watchful eye on deductions that may be accessible and beneficial for your business and its bottom line. Tax relief schemes in UAE can also assist in lowering the amount of taxes that you will be required to pay each tax filing season, which may result in more savings for you.
Why Work with Certified Bookkeeping Firms in Dubai
Beyond providing quality bookkeeping and accounting services, we do it with a great deal of care and understanding. Our certified and licensed experts that handle our bookkeeping services in Dubai have a high degree of knowledge and experience in the industry. As a result, they are able to offer you sound financial advice and guidance that is unique to your sector in order to help you overcome existing and potential issues.
You will benefit from the gold standard we set in providing our bookkeeping services in UAE in addition to receiving a customized solution that is tailored to the specific requirements of your company. Essentially, our bookkeeping services in UAE can help with:
- Keeping records up to date and accurate
- Being aware, at any given moment, of your obligations and the dates on which they are due
- Identifying what belongs to you and when you may claim it
- Being aware of how much the company owes for taxation and when it is due
In addition, all of the work is completed in-house as we do not utilize outsourced contractors, and we provide unrestricted access to our experts by phone and email. You are welcome to give us a call at any time to seek answers to any queries or even concerns you may have.
Give our team of experienced bookkeepers in UAE the opportunity to assist you with your bookkeeping needs so that you can get some peace of mind and concentrate on the aspects of your business that are most important to you. To get started, send us a request for a quote here!