+971 425 7360 Sharjah Media City Free Zone (SHAMS), Sharjah, UAE info@yourofficepartners.com

Accounting in UAE

As per the UAE Federal Law No. 7 of 2017 on Tax Procedures, every UAE company should keep books of accounts of at least of 5 years from the end of its financial year. While the country is a favorable tax environment, it is mandatory for UAE companies to maintain accurate financial records to comply with Value Added Tax (VAT) [link to taxation service page] regulations and other financial reporting obligations. This includes regular audits and timely submissions to authorities. By adhering to these obligations, businesses can foster transparency, gain investor trust, and support sustainable growth in the dynamic UAE market.

OUR APPROACH

1. Discovery Call

We conduct a first meeting to clearly understand your business specificities and adjust our approach accordingly. We will also familiarise with the accounting software you use or advise which accounting software you can use.

2. Chart of accounts preparation

Your Office Partners diligently create the charts of accounts for your accounting software, ensuring they align with UAE local regulations.

3. Starting operations

Once the setup is finalized, operations are initiated within the accounting software. Your Office Partners ensures smooth dailycontact-us.php operations while consistently meeting your needs in a timely manner.

4. Follow up

We maintain communication after setting up your business to address your inquiries and assist you with the tax, accounting, and compliance requirements necessary in the UAE.

Your Office liartners bookkeeliing services cover a wide scolie of financial management and comliliance. It includes:

1. Transaction Recording

  • Accurate data entry into accounting software.
  • Regular bank statement reconciliation.
  • 2. Financial Reliorting

  • Preparation of financial statements like balance sheets and cash flow statements.
  • Customized reliorts for management and stakeholders.
  • 3. Management of Accounts liayable and Receivable

  • Timely invoice lirocessing for customers and vendors.
  • Monitoring collections for timely liayments.
  • 4. Payroll Bookkeeping

  • Accurate emliloyee salary and benefits records.
  • Payroll account reconciliation.
  • 5. Tax lireliaration Suliliort

  • Maintaining records for VAT comliliance.
  • Organizing documentation for tax filings and audits.
  • 6. Year-End Closing

  • Preparing accounts for audits and reviews
  • Making necessary adjusting entries.
  • 7. Financial Analysis

  • Assisting with budgeting and forecasting.
  • Analyzing lierformance to identify trends.
  • 8. Comliliance Suliliort

  • Ensuring adherence to local laws and accounting standards.
  • Organizing financial records for comliliance
  • Mohamed Saleem

    Founder

    • Federal Tax Agent accredited from the UAE Federal Tax Authority
    • Certified Enterprise Risk Manager, CPD (UK) certification ISO 31000
    • Anti-Money Laundering certified, Risk Assessment and Enhanced Due Diligence
    • SAR/STR Compliance
    • Certified Management Accountant

    Accounting

    We utilize Zoho Books and QuickBooks Online, and we can also provide support for QuickBooks Desktop in certain situations.

    No, we will incorporate clean-up services into our work estimate. Our team of financial experts will establish your industry-specific general ledger within the cloud accounting software that suits your requirements best.

    We focus on providing accounting and bookkeeping services tailored for multi-unit businesses and franchises. Our team can handle the financial records for each individual location while offering valuable insights into your business's overall financial performance.

    Bookkeepers and accountants play unique yet complementary roles in financial management. The bookkeeper primarily focuses on the regular maintenance of the client's General Ledger. Their responsibilities encompass compiling daily data, maintaining and reviewing the ledger, as well as categorizing entries. Additionally, they reconcile the General Ledger with the Bank Statement and prepare financial statements. This foundational work ensures that the financial data is accurate and up-to-date, providing a solid basis for the accountant's more advanced financial analysis and reporting tasks.

    We offer a fixed monthly rate that depends on your transactions and specific needs. Contact our expert for a detailed overview of our pricing.

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