Outsource Accounting Services in Dubai

Accounting Outsourcing Services

Proper financial management in the form of accounting & bookkeeping is essential to keep a business running successfully. UAE, as a leading commercial hub, is home to a growing number of business entities. Therefore, they will need reliable outsourcing accounting services in Dubai, UAE to ensure their books are free from any errors and accurately prepared.

As businesses in Dubai continue to expand and evolve, the need for accurate and timely accounting services becomes increasingly crucial. Maintaining financial records, preparing tax returns, and ensuring compliance with regulations are just a few of the many tasks that businesses in Dubai must stay on top of.

If you want to outsource your accounting services in Dubai, look no further. Shuraa Tax Consultants and Accountants offer reliable bookkeeping and accounting outsourcing services in Dubai, so that you are free to make your work grow. With Shuraa Tax as your accounting partner, you get UAE's best financial services delivered with confidentiality and security.

What are Accounting Services in Dubai?

Any company uses accounting to measure, process, and record all their financial statements. As an industry, it is a necessary requisite in all countries and economies. Accounting services encompass a range of tasks that track, analyze, and interpret a business's financial activities.

As the business field is growing, there are constant changes being applied to the accounting industry as well. Good accounting is essential for any business to succeed. From startups to long-time establishments, when looking to outsource accounting services in Dubai, UAE, should ideally engage a firm with considerable experience and a thorough knowledge of UAE's fiscal policy.

Shuraa Tax is UAE's leading tax, VAT, and accounting consultancy and services provider. Shuraa Tax is among the top accounting outsourcing companies in Dubai which offers customized options for your business' special needs. They protect your commerce with proper documentation of your financial history.

Why Business Needs Accounting Services?

There are several categories of accounting that companies need to manage depending on the nature of their business and reporting requirements. Here are some of the most popular accounting categories businesses follow:

1. Financial Accounting

The process of creating financial statements for performance review, financial decision making, and external review is called financial accounting. Through this, businesses can check their past performance as well as the current status of the organization's finances. This helps in establishing the credibility of a business before clients, customers, vendors, suppliers, and other transactional entities.

2. Management Accounting

Management accounting focuses on providing financial and operational information to internal users, such as managers, to help them make informed business decisions. Management accountants analyze data, prepare budgets and forecasts, and assess the cost-effectiveness of operations.

3. Management Information System (MIS) Reporting

Management information systems or MIS reporting involves using technology to collect, store, analyze, and present financial and operational data. This data is used to generate reports that can be used by managers to track performance, identify trends, and make better decisions.

4. Tax Accounting

Tax accounting adheres to the tax laws of a country while estimating the tax liability of a company. The end purpose is to avoid paying fines or penalties in the case of improper tax filing. The proper accounting and filing of both input and output tax helps provide transparency to the FTA's (Federal Tax Authority) requirements.

5. Project Accounting

This system is beneficial in tracking a particular project's financial progress by generating periodic financial reports and to analyze how profitable a project can be. It is mostly reliant on budgeting as the key tool. Most construction firms especially use this system.

What are Outsourced Accounting Services in Dubai?

Outsourced accounting services in Dubai refer to delegating your business's accounting tasks to a professional firm instead of hiring an in-house accountant. These firms provide a range of services, allowing you to pick and choose what you need, from basic bookkeeping to tax compliance and financial reporting.

Types of Outsourced Accounting Services

1. Bookkeeping & Data Entry

Ideal for basic record keeping and transaction management.

2. Payroll Services

Ensures timely and accurate employee paychecks and tax filings.

3. Tax Preparation & Filing

Helps you comply with UAE tax regulations and avoid penalties.

4. VAT Accounting Services

Specifically addresses Value Added Tax (VAT) calculations, bookkeeping, and filing.

5. CFO Services

Provides strategic financial guidance and oversight, often on a part-time basis.

6. Management Accounting

Focuses on providing financial data and reports to support internal decision-making.

Why Outsource Accounting Services in Dubai?

When you outsource your accounting services in Dubai, you essentially delegate the finance management of your establishment to an external accounting department. They will look after different aspects such as day-to-day transaction coding, accounts receivable and payable, payroll, financial reporting management, and other customized services.

Here are some of the key benefits of outsourcing accounting services:

1. Cost-Effectiveness

Compared to hiring a full-time accountant, outsourcing offers significant cost savings. You only pay for the services you need, eliminating employee benefits and overhead costs.

2. Expertise and Compliance

Dubai has specific tax regulations, including VAT. Accounting outsourcing companies in Dubai stay up to date on these regulations, ensuring your business is compliant and avoiding penalties. You gain access to a team of experienced accountants with diverse expertise.

3. Focus on Core Business Activities

By outsourcing accounting services, you free up your time and resources to focus on core business activities like sales, marketing, and product development.

4. Increased Accuracy and Reduced Errors

Accounting outsourcing companies in Dubai established processes and use sophisticated accounting software to minimize errors. This ensures the accuracy of your financial records and reporting.

5. Improved Scalability

As your business grows, your accounting needs can change. Outsourcing allows you to easily scale your accounting services up or down depending on your requirements.

6. Improved Decision-Making

Accounting firms can provide valuable financial insights and analysis to help you make informed business decisions. They can help you track key metrics, identify trends, and forecast future performance.

Shuraa Tax Offers Outsourced Accounting Services in Dubai

Companies in the UAE must mandatorily maintain books of accounts and tax records for at least five years. This is as per the Federal Decree-Law no. (32) of 2021 on Commercial Companies and the UAE VAT Law. Because of the difference in the laws/regulations of a foreign country, expats may find it difficult to maintain their accounts and finances properly.

This is why they will need to enlist the help of accounting outsourcing companies in the UAE. Shuraa Tax Consultants and Accountants are Dubai's best accounting and auditing firm with years of experience in UAE taxation and fiscal laws. Contact them today for the best-outsourced accounting services in Dubai.

Shuraa Accounting Outsourcing Services in the UAE

1. Online outsourced accounting services

• Touch base with the client to collect the necessary documents and information
• MIS reporting
• Accounting services
• Preparing financial statements such as profit and loss accounts, balance sheets, and cash flow Statements
• Preparation of ratio analysis reports, etc.

2. Onsite outsourced accounting services

• Initial work procedure assessment
• Current financial solidity & positioning assessment
• Data assembly & recording
• Preparation of invoices, bank statements, bills, vouchers, etc.
• Preparing financial statements such as Profit and loss account, Balance Sheet, and Cash flow Statements
• Preparation of ratio analysis reports, etc.

Why Choose Shuraa for Outsourced Accounting Services?

Shuraa Tax offers comprehensive accounting outsourcing services in Dubai. With a team of experienced accountants and tax consultants, we ensure accurate and compliant financial reporting, allowing you to focus on your core business activities. Contact us today to learn how we can support your business.

Conclusion

Outsourcing accounting services in Dubai can provide numerous benefits to your business, from cost savings and increased accuracy to access to specialized expertise and compliance with local regulations. Shuraa Tax Consultants and Accountants offer tailored accounting outsourcing services to meet your specific needs, ensuring your financial records are well-maintained and compliant.

Contact Shuraa Tax today to learn more about our accounting outsourcing services in Dubai and how we can support your business.