We will help you manage your finances efficiently with the help of our highly qualified accountants. We provide bookkeeping, reconciliation, financial reporting, payroll, VAT reports and audit support.
In simple words, accounting is the recording of monetary dealings concerning a company or business concern. The process of accounting comprises summing up, evaluating and disclosing of the monetary or financial dealings to supervising bodies, regulating agencies, and authorities that accumulate tax. A financial statement is a common term connected to accounting.
The financial statement is an abstract of monetary transactions associated with a business establishment for a period of time. It gives various vital information regarding economic status, operations, and net transactions of the business. It is mandatory for a business establishment to keep a record of the accounting data for a period of 5 years in the Emirates. Company In Dubai provides a wide range of accounting and bookkeeping services in Dubai to clients of diverse domains. The accounting-related aspects play a significant role in the overall working of a business establishment irrespective of the business domain or size. Dubai is one of the most sought after business destinations in the world and therefore the need for cost-effective and efficient accounting services is very essential.
Effective Accounting helps business establishments keep the record of all monetary transactions in the most systematic and professional manner.
Accounting helps the management in understanding matters related to pricing parameters. The management attains control over business.
the accounting-related data can be produced before a legal authority as evidence. This comes in handy at the time of financial disputes.
The business establishments are required to file tax returns to various government authorities. Accounting helps in pursuing the whole process.
Systematic accounting helps the business establishment compare the net profit and net loss incurred during a particular period of time.
Systematic accounting helps the business check misappropriation of funds and fraudulent transactions.
Many investors who start a business in Dubai or UAE without a prior experience prefer to outsource the accounting task to an external agency. Accounting is fully based on following certain procedures and practices irrespective of the type of business. It can be an uphill task for investors who lack the required business establishment experience in the Emirates. Therefore, entrusting the job to a qualified team of accounting professionals can make procedures a lot easier. It also helps the newly-formed business venture focus on core issues.
Company In Dubai offers a wide range of accounting services in Dubai to help businesses with financial tasks. The accounting services that we offer are listed below.
Bookkeeping is the process of listing the monetary transactions of an organization in suitable account books. Many websites publish the definition of Bookkeeping and Accounting almost in the same manner. Both processes appear to be the same, but they have evident differences. The fact is that Bookkeeping is an aspect or facet of Accounting. Accounting is a broader subject and requires in-depth understanding due to its analytical scope and relevance. Bookkeeping professionals make use of either a ledger book or dedicated software for the purpose of listing monetary transactions. Kiltons team have compiled an Evaluation table to understand the basic concepts and differences between Accounting and Bookkeeping.
Understand the financial status – Recording the financial transactions helps in the smooth functioning of the business establishment. The organization gains better control over its expenses and income generated.
Perform Financial evaluation – Comparing different financial aspects for a particular period of time is possible with bookkeeping. This helps in regulating the spending in favour of the business establishment.
Check financial misappropriations – Systematic bookkeeping prevents the chances of financial frauds and malpractices. One of the main reasons for cheque bounce is the lack of funds. Bookkeeping avoids these unpleasant scenarios to a great extent.
Budget evaluation – Bookkeeping helps in the process of evaluating the budget projections with real outcomes. This helps the business establishment understand the areas of shortcoming and make the necessary changes.
Filing tax returns - Systematic bookkeeping assists in the filing of tax returns. It can also determine tax exemption scenarios.
Company In Dubai offers a wide range of bookkeeping services in Dubai for the systematic documentation of financial aspects of your business transactions in suitable books of account.
Outsourcing bookkeeping services in Dubai will not only help you maintain your business and financial transactions but to ease your organisational burden and keep your financial expenses in check. Businesses in Dubai prefer outsourcing bookkeeping tasks to qualified professionals due to the following reasons.
Company In Dubai has a team of experienced professionals adept in providing accounting and bookkeeping services in Dubai and across the UAE. Our accounting and bookkeeping consultants are well-trained and qualified individuals who handle various finance tasks for diverse companies in various Emirates. By getting rid of the responsibility of hiring and managing an in-house team of accounting professionals, the business gets ample time and confidence to invest in core business concerns. For all your Accounting and Bookkeeping related requirements in Dubai and UAE, get in touch with our consultants as early as possible.