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Accounting and bookkeeping
With the introduction of VAT in the UAE in January 2018, it became very important for all businesses to keep completely accurate books and records in order to comply with Federal Tax Authority (FTA) regulations. Our accounting team has extensive experience in VAT accounting and bookkeeping.
Without properly designed accounting practices, companies can make ill-informed business decisions that can pose a direct risk to investors, lenders, and stakeholders.
Bestaxca Chartered Accountants provides accounting services that ensure our clients can make informed and timely business decisions on the path to success. Contact us today to discuss your business needs in detail.
Accounting services in Dubai
The work of highly paid professional Accounting Services In Dubai and other emirates of the UAE is no substitute for many ordinary accountants and inexperienced accounting firms that outsource accounting and bookkeeping services. You can never be sure that you will be able to make decisions based on the accounts kept by regular accountants. Smart business people do not compromise on the quality of their accountant in the same way that they do not compromise on their lifestyle. They want to ensure that the data they use to make important business decisions is “accurate, complete and reliable”.
In the UAE, compliance requirements are increasing by the day and no company wants to be subjected to large fines for non-compliance.
Good accountants and wise auditors can decide how to protect themselves from the ever-changing laws and regulations of this highly inconsistent world by the way they prepare their financial statements. This section looks at recent changes made by the government of the United Arab Emirates, a member of the OECD’s Comprehensive Framework, in implementing the Regulation on Economic Organizations in the United Arab Emirates.
Under the Regulation, companies incorporated in the UAE must notify the public authorities when they carry out any of the relevant activities set out in the Regulation. For example, the flow of accounting transactions between a company and third parties, UAE parties, and foreign parties will play an important role in assessing compliance with the BES Regulation to determine whether a company is engaged in “distribution and service center activities”.
Only a wise accountant knows how to manage and record transaction flows and structure accounts appropriately to make such a critical assessment. Failure to assess compliance can cost companies dearly, including heavy fines and penalties.
The same applies to UBO applications. The average auditor has no way of knowing that even a company with one parent company must file a final tax return for the beneficial owner. This declaration applies to all organizations registered in the UAE mainland and free zones, except for government entities and financial free zones (Dubai International Financial Centre and Abu Dhabi Global Market).
And it doesn’t stop there. As a business owner, how do you ensure that your accountants carefully record your business transactions to ensure VAT compliance? Can you avoid VAT penalties for fraudulent bookkeeping and accounting? Many businesses in the UAE face fines of millions of dirhams simply because their accountants are not aware of the voluntary and mandatory thresholds for VAT registration.
That’s why hundreds of businesses in Dubai and the UAE have outsourced their accounting and bookkeeping services to Push Digits Chartered Accountants. We recruit ACCAs, CPAs and CAs for our clients and then provide ongoing training at Push Digits Global Academy to keep up to date with the latest market requirements, the latest accounting and auditing tools, integrated business process automation and current AI trends in the accounting industry. We keep our knowledge up to date to stay at the forefront of the latest developments.
Dubai, an oasis for business
With a strategic location, a diversified economy – from oil to real estate and tourism – and home to major multinationals, Dubai is a city of great wealth and significant business growth. Dubai is a city whose residents live lavish lifestyles, have enormous spending power and tend to spend a lot of money every day. With the recent opening of the Nasdaq Dubai Growth Market, Dubai is becoming a haven for entrepreneurs and SMEs. This trend can be observed in any city or country where business is always growing fast and flourishing. The same is true for companies operating in Dubai.
Remember: business development always stalls because of time spent on operations. You are the experts when it comes to understanding the needs that drive your business, but unless you are a small business, it is simply impossible to keep track of every function. Entrepreneurs like you are very creative people, full of great ideas but less focused on the day-to-day aspects of the business.
They easily realize that while they can do the work themselves, it is better to spend their valuable time building the business. So they find experts and then delegate tasks. One of these tasks is accounting and bookkeeping services, and there is no better company to outsource this process than Push Digits Chartered Accountants, which has been noted by Entrepreneur as one of the best accounting firms in Dubai.
Does my competitor outsource?
Yes, they do. This is because they want to invest in building their business rather than creating an army of accountants. The world has changed. The idea of buying a music selection in a “record store” that can only be played on a “record player” at home now seems ridiculous. Our music is digital and available anywhere, anytime.
For the same reason, companies no longer bother to create in-house accounting staff. AaaS (Accounting as a Service) is a unique technique used by accounting firms that eliminate all fixed costs such as salaries, office space, equipment, supplies, travel expenses, visas, tips, etc. The savings are even greater as sick days, vacations and vacations and countless other expenses are eliminated. Our goal is to provide you with a customized service and accounting system that fits your business perfectly.
Accounting packages
Bookkeeping and accounting are essential requirements for any business large or small. You cannot operate without reliable, accurate and timely financial information. It is essential for tracking business performance and important for making appropriate business decisions. Our professional and qualified accountants understand the importance of this and therefore work tirelessly to ensure that this vital information is available when you need it.
We hire wisely to make sure we have the best additions to our staff; we assure you that they are qualified, aware of the latest regulations, and always completed on time. There is nothing more important when it comes to managing our clients’ finances and accounts.
To achieve maximum customer satisfaction for every penny spent, we have divided our financial services into different packages. This provides broad categories to optimize services that can be based on how much you want to spend.
Reconciliation is a common problem in large organizations because of the high volume of transactions. Typically, our clients require the following coverages for account reconciliation services:
Accounts are prepared by the client’s internal financial team and then reviewed by our experienced auditors. Our rigorous review of the accounts ensures that the financial data is accurate, complete, and reliable for decision-making purposes.
Customized accounting packages
Of course, all or some of the above options can be combined to best suit your needs.
Whether you need it on a daily, weekly, monthly or bi-monthly basis, we can arrange this specifically to meet your needs. Part-time or full-time, we can accommodate you equally. Just give us a call and suggest a schedule that is convenient for you and we will take care of the rest.
Our representatives will be happy to visit you, discuss your concerns, and gain an in-depth understanding of your business to ensure that we provide a service that exactly meets your needs. Rest assured that no other staff in Dubai will put you first the way we do.
Our accounting services in Dubai and other UAE emirates are backed by the latest artificial intelligence (AI) that can instantly detect errors in your company’s accounting and bring them to the attention of humans. This is much better than waiting for your in-house accountant at the end of the month or quarter to discover errors, which can cost up to $1,000.
You should ask yourself: “What am I doing wrong?” Why deal with a company that is afraid to implement the latest technology to provide the best service?” Artificial intelligence is the future, and it cannot be ignored. Check out this blog article that describes the importance of this great AI technology
Why is it worth contacting Bestaxca?
Our accounting outsourcing is based on the concept of adapting our services to the needs of each client. In doing so, we can offer our clients the following benefits
Access to expertise
We provide professionally qualified accountants with experience in various industries and sectors of the economy. In addition, we have a dedicated accounting partner who can provide technical support if needed. The result is access to first-class accounting expertise at unbeatable prices and unparalleled levels.
Long-term partnerships
We are committed to our clients and build long-term relationships to provide seamless accounting services throughout the UAE. This ensures that your information is up to date and completely accurate in our business relationships.
Customer Satisfaction
We don’t just sell our word. We provide results-oriented local accounting outsourcing services! That’s why we are proud to have such clients. That is why we are proud to achieve 100% customer satisfaction. That is why we have an excellent customer retention protocol and are market leaders. Check out what our customers have to say about our excellent service on our testimonials page. We would love to hear your stories too.
Of course, our accounting outsourcing service is more than just reconciling your accounts. Visit our office, have a coffee and we will introduce you to our diverse offering, which includes unique key elements that you will not find anywhere else.
We make it work for you
In addition to providing outsourced accounting services, we can help you set up the most common accounting software such as SAP, Zoho Books, Xero, Tally.ERP 9, QuickBooks, and Sage. We are an authorized and certified partner of all these high-quality accounting software providers. In addition, our accounting team members are experts in installing, training, and configuring these software packages, ensuring that your business needs are met.
The prices for these accounting software packages are second to none. As authorized partners and resellers, we offer high-quality accounting packages at reasonable and affordable prices to provide maximum value to our customers.
A few words about our experience
Thanks to our excellent cooperation and dedication, our clients have always trusted our financial outsourcing services. Our services are complemented by the involvement of our CEO and partners in the accounting of our clients. Our clients come from a variety of backgrounds and industries, so they rely on our accounting expertise gained while working in those industries.
Ultimately, we are the only real choice when it comes to know-how, experience and cost-effectiveness in one bottle. Contact us today to pave the way to better financial reporting.
We would be happy to talk with you and your business to find the best way to meet your accounting needs.
We believe that our unique and personalized approach to service delivery cannot be replicated by any other firm. We do this because we believe that if your business is successful, our business will be successful – a mutually beneficial, long-term relationship.
Alison