Bookkeeping and Accounting Firms in Dubai
Accounting and bookkeeping services in Dubai
Accounting and bookkeeping services play an important role in all industries to record financial transactions, salaries, taxes, invoices, etc. There is very little difference between accounting and bookkeeping services, but both have the common objective of developing the financial cycle at different stages. There is very little difference between accounting and bookkeeping services, but both have the common goal of developing the financial cycle at different stages.
This day-to-day bookkeeping helps to manage income and expenses in a cost-effective manner. However, it has become difficult for ordinary accountants to fully implement International Financial Reporting Standards (IFRS). The solution is to outsource these expert services to achieve long-term goals. Al-Hayat Accounting is considered one of the leading accounting and bookkeeping firms in Dubai, with a team of highly qualified financial advisors to help you with your complex projects.
Accounting and bookkeeping mandatory laws in the UAE
In the UAE, regulatory compliance is increasing day by day and no business owner wants to incur heavy fines for breaking the law. According to the UAE Commercial Companies Law, every small or large company in Dubai must comply with the requirements of IFRS and IAS to manage its financial affairs perfectly. In addition, companies are required to keep adequate accounting records for at least five years until the end of the financial year. This obligation is also required by the Federal Tax Administration and other government authorities.
Companies, therefore, need expert accounting and bookkeeping services in Dubai, which provide advice on how to comply with local and international laws and protect them from administrative penalties. Spending on accounting and bookkeeping services is an investment that will pay off in the years to come.
The types of accounting services we provide
On-site accounting
If you want all your accounting services to be done in front of you, our representative is physically present in your workspace and handles all your financial transactions.
Off-site accounting (on secondment)
Al-Hayat Accountings oversees the day-to-day accounting operations of your business and coaches’ teams to achieve financial goals. Depending on the needs of your business and the number of transactions, our qualified chartered accountants can visit your office on a daily, weekly or monthly basis to audit, identify errors and make any necessary corrections.
Accounting supervision
Bank reconciliation
Bank reconciliation is the process of comparing the balances of the original bank statements with the accounting records kept. The objective of this process is to identify differences and make appropriate adjustments to the accounting records to achieve a reconciled balance between the actual bank statements and the cash in the accounting records. Our dedicated team of qualified chartered accountants also provides bank reconciliation services in the UAE.
Our accounting and bookkeeping services workflow
1) Understanding your business
During this first step, we understand your business cycle, identify gaps in your existing accounting operations and become familiar with your financial objectives. After a thorough understanding of your business and financial cycle, we select a few accounting programs that fit your budget and requirements.
2) Planning and feasibility proposal
A team of professionals carries out a feasibility study before preparing a tailor-made proposal that meets your individual needs. Our experts ensure that you get maximum results from our cost-effective solutions.
Software implementation and bookkeeping
After mutual agreement and approval of the final proposal, we implement the necessary accounting software with a customized chart of accounts and start processing your financial transactions to complete your accounting and bookkeeping tasks.
Why should you choose AL-HAYAT CONSULTING for accounting in Dubai?
Competitive prices
We offer you the best accounting and bookkeeping services in Dubai at minimal cost, without ever compromising on the quality of service.
Best accounting software
After understanding the work cycle, our certified consultants implement state-of-the-art software, taking into account your budget and business needs.
Guaranteed results
Our team of qualified accountants includes top members of the ACCA, CA, CPA and other IFAC bodies, who are committed to legitimizing your financial statements and ensuring clear, clean results.
Fast and accurate
Al-Hayat Accountings promises you a quick response, within one business day or less. They will also provide you with honest and quality advice depending on your type of business in the UAE.
Regular financial reporting
To keep you informed of your financial situation, we provide weekly, monthly, quarterly and annual financial reports depending on the type of business and its needs.
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