Accounting Services in UAE for Accurate Books and Better Financial Control
Our GetMyAccounting company provides full accounting services in UAE which will ensure that your business maintains accurate financial records, is prepared for VAT and Corporate Tax, conducts payroll, and prepares itself for audits. Our experts assist businesses of all sizes from startups to SMEs.
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What Are Accounting Services to a Business in UAE?
Accounting Services UAE allows a business to keep record of financial transactions, reconcile them, and prepare reports. This includes accounting services related to VAT, Corporate Tax, Payroll and Audit.
Professional accounting services do not just entail keeping records in the books of accounts. GetMyAccounting provides an organized financial system to enable businesses to track profits, manage costs, prepare reports, and keep accurate records.
From your mainland company to your free zone company, and whether a startup or a small and medium enterprise, accounting services can help minimize mistakes in finances.
What Is the Importance of Accounting Services in the UAE?
UAE firms may be compelled by regulations related to companies, VAT, Corporate Tax, payroll and other such regulations to maintain accounting and bookkeeping records. GetMyAccounting ensures that business transactions are recorded appropriately and financial statements adhere to the relevant laws of the UAE and applicable financial reporting standards. Entrepreneurs find it easier to focus on their core business when they use accounting services.
Key benefits of professional accounting services:
- Financial records maintained properly throughout the year
- Proper cash flow management and budgeting
- Assistance in VAT and Corporate Tax compliance
- Preparation of Profit & Loss Statement and Balance Sheet accurately
- Minimized financial errors and mistakes
- Improved insights because of proper accounting figures
What Businesses Need Professional Accounting Services?
It is very helpful for those businesses that require regular record keeping, reporting, or more finance capacity without setting up an in-house accounting department.
- Start-ups requiring proper accounting record from the beginning
- Small and medium-sized enterprises that require accounting and management reporting support on a recurrent basis
- Onshore companies having recurrent accounting and reporting requirements
- Offshore companies needing organized books along with the supporting financial record keeping
- Developing businesses that require more accounting capacity or clear monthly reporting
Our Accounting Services
GetMyAccounting provides full-fledged accounting services which are meant to streamline the core financial operations of your business through efficient bookkeeping, payroll preparation, and audit support.
Bookkeeping & Accounting
- Bookkeeping on daily basis
- Bank reconciliation
- General ledger maintenance
- Financial reporting on a monthly basis
Payroll & WPS
- Salary processing
- WPS file creation
- Payslip preparation for the employee
- Leave & Gratuity management
Audit & Assurance
- Audit preparation
- Financial review
- Compliance documentation
- Auditor coordination
In case an organization has the requirement of Wage Protection System (WPS) compliance, we offer organized salary processing, WPS file creation and payroll services for employees. Audit support covers internal, external, statutory or free zone audits with organized financial documentation and assistance with auditor coordination.
What Are the Benefits of the Accounting Services of GetMyAccounting?
Subject to the terms of the scope and frequency that you and we agree on, we give you an accounting record and report package that gives you more insight into your finances and helps you plan for any tax or audit implications.
Accounts and reconciliations up to date
Profit & Loss Statement & Balance Sheet
Trial Balance & General Ledger
Accounts Receivable & Payable Reports
Payroll Records & Reports, as required
VAT, Corporate Tax and Audit Ready Schedules & Records, as required
Documentation Required for Initiation of Our Accounting Services
The documentation requirement in your case depends upon your business type and the services required. Some examples of typical documents needed at the time of accounting onboarding are:
- Trade license, if any
- Bank statements and payment slips
- Sales and Purchase Invoices
- Receipts of expenditure
- Previous accounting details and opening balances
- VAT registration/TRN, if any
- Payroll/WPS Details, if payroll service is required
Accounting Software We Support
Some of the accounting software supported by our organization are Zoho Books, Xero, QuickBooks Online, and Tally.
Process of GetMyAccounting Accounting Service
The well-organized accounting process of GetMyAccounting ensures financial accuracy, clarity, and compliance in all stages.
- 1Analysis of the Business
Analysis of the type of the business, industry, financial reporting needs, and accounting procedures of your business to establish the way the accounting process can be carried out.
- 2Collection of Financial Documents
We collect the required financial documents which have been agreed upon, check the opening data if needed, and identify the missing documents before the start of the recurring bookkeeping.
- 3Bookkeeping
All financial transactions are classified, recorded, and reconciled in your accounting system.
- 4Preparation of Reports and Payroll Processing
Preparation of the agreed reporting package and payroll processing/WPS data management.
- 5Financial Audit
Prior to the report preparation, GetMyAccounting performs the audit of the accounting records in order to identify the missing information which may affect VAT, Corporate Tax, payroll, or any other report preparation.
Accurate accounting helps keep the financial records that form the basis of VAT calculation and Corporate Tax calculation. If your company requires tax assistance, consider our VAT Registration in UAE and Corporate Tax Advisors in UAE services.
Need a More Structured Accounting System?
If you have issues with your books, payroll or audit support records, we will review your current process and define the level of accounting support your reporting cycle needs.
Financial Reports UAE Businesses Usually Keep
Different financial reports answer different questions of management. The reports you receive from us depend on the agreed scope of work, reporting period, and amount of financial detail you require.
Shows income, expenses, and profit of the reporting period.
Shows assets, liabilities and equity of the company at a certain point of time.
Assists in tracking the movement of cash and its generation in all activities of the company.
Shows accounts of customers and suppliers.
Gives the complete set of accounting documents for review and reconciliation.
Industries We Serve All Over UAE
We offer industry-based accounting services in order to provide the best accounting solution depending on a particular business sector all over the UAE.
| Industry | Where We Help |
|---|---|
| Retail & Trading | Movements of the inventory, accounts with suppliers, receivables, margin control |
| E-commerce | Payment gateway settlements, marketplace fees, refunds, reconciliation of sales |
| Manufacturing | Inventory, suppliers cost, production related expenses, financial reporting |
| Construction & Contracting | Project costs, retentions, accounts with subcontractors, invoice records |
| Healthcare | Clinic expenses, payroll records, insurance receivables, monthly reporting |
| Hospitality & F&B | Daily sales, supplier invoices, staff cost, cash/credit card reconciliation |
| Technology Startups | Subscription income, multi-currency activity, payroll, cash flow |
| Professional & Consulting Firms | Invoicing, expenses, receivables, profitability of clients/projects |
All industries have their specific cash flows, cost structure, financial reporting requirements and compliance pressure. Our accounting approach is adjusted to the documents and financial control important to your business model.
Get My Accounting for Accounting Services in UAE Why Choose?
Along with credentials and experience, our service is designed as accounting service with ownership, reporting responsibilities, and structured recurring workflow of your finances.
A designated accountant with clearly defined file ownership.
Defined service scope and reporting responsibilities prior to service delivery.
Structured process of bookkeeping, reconciliations, and reporting according to the agreed cycle.
Coordination of accounting books with VAT or Corporate Tax support, if needed.
Flexible accounting approach to the volume of transactions, nature of business and reporting requirements.
Audit preparation and auditor coordination in case of including this into the scope.
Safe handling of documents according to the ISO 27001 data security system of GetMyAccounting.