All well-established businesses have one thing in common; Up-to-date accounting and bookkeeping. Successful businesses run smoothly only when there is a tireless team maintaining daily records that can be pulled out for reference at any odd hour. And, that’s that mark of a solid and honest business establishment. Accounting and bookkeeping record day-to-day transactions and are not the same as accounting. They are the building blocks of accounting as they maintain a clear record of the day-to-day transactions that help companies maintain uninterrupted operations.
METHOD AND NEED OF ACCOUNTING & BOOKKEEPING SERVICES FOR BUSINESS ENTITIES
The most preferred method of Accounting & Bookkeeping is the double-entry method, where each transaction is recorded twice in the two corresponding accounts simultaneously. The total debit must be equal to the total of credit to maintain the financial balance of the firm.
As we have seen, Accounting & Bookkeeping refers to the maintenance of daily business records.
ACCOUNTING & BOOKKEEPING SERVICES FOR SMALL BUSINESS
Initiating a start-up or establishing a business involves tasks at multiple levels that need to be recorded for the smooth running of various departments engaged in performing diverse operations. Accounting & Bookkeeping services are crucial to every organization irrespective of the size of the setup. Keeping this in mind, the tech industry has developed customized software for small enterprises to ease the process of maintaining books. However, using this technology to maintain records calls for specialized personnel who are trained to manage the records using the software to avoid any confusion and support in maintaining uninterrupted business functions at your end.
ACCOUNTING & BOOKKEEPING SERVICES IN DUBAI
Dubai is a global business hub. The emirate is driven by its ruler’s vision of becoming the world’s largest business magnet. A rise in business evolution will call for increased demand in Accounting & Bookkeeping and accounting services in Dubai; making way for further growth for Accounting and Bookkeeping Mentors. Under UAE Law, all the business entities must adhere to the accounting rules and regulations by the International Financial Reporting Standards (IFRS).
AVYANCO ACCOUNTING & BOOKKEEPING SERVICES
Avyanco, with its expert team of Accounting & Bookkeeping personnel in Dubai, provides a holistic service in the area of Accounting & Bookkeeping considering the diversity and dynamism of various businesses. From initial to advanced Accounting & Bookkeeping services we handle:
- Company profile setup
- Maintenance of bills
- Maintenance of customer invoice and payments
- Reconciliation of bank accounts
- Custom-designed reports
- Quarterly budget reviews
- Payroll and tax management
EVALUATION OF ACCOUNTING & BOOKKEEPING SERVICES AT AVYANCO
Every business must maintain Accounting & Bookkeeping as per the UAE law. The company’s performance can be evaluated based on the reading gathered through Accounting and Bookkeeping which is the most vital aspect of any company’s strategic and growth plan.
Our Accounting & Bookkeeping services team assesses your company’s performance based on parameters like cost, income and expense categorization, payroll, tax service, software used to maintain the book of records, and customer service provided by the business entity. This entire exercise gives you a better understanding of where your business is heading and helps you make the required changes to enhance productivity.
FAQs on Accounting & bookkeeping in Dubai
1. What are accounts outsourcing/bookkeeping?
We at Avyanco provide specialized bookkeeping and accounting services; we meet all your accounting requirements. Outsourcing is a very cost-effective way of reducing the accountants’ hiring and training expenses in an organization.
2. Where is this work done?
Avyanco provides accounting solutions that are tailor-made to the client’s requirements. The scope of coverage could include the entity’s whole accounting aspect to specific functional areas of accounting. Our services can be performed either onsite or offsite depending on the requirement for service delivery, information security, logistics, and deadline.
3. What is the duration of accounting services engagement?
Typically, an accounting assistance agreement term is for one year (financial years). It can later be renewed after a review of your new requirements. The contracts are quite flexible, e.g., once or twice every week, monthly, quarterly, half-yearly, or yearly. With Avyanco, you can be assured of a dedicated professional accounting service to help make the most of your business.
4. Do I lose control if my accounts are handled by an external agency?
No, you do not. But you will have more time to make informed decisions on all the financial aspects once accounting and bookkeeping are completed. As an investor, you can focus on growing your business instead of reacting to business events.
5. What’s included in accounting services by an external agency?
The services offered by us can be tailored to include almost everything an in-house accounting department would do or as little as you would want and provide useful financial information that can benefit your company’s growth.
6. What other benefits apart from cost savings can I expect?
- Precise guidance
- Professional market experience
- Fast track process
- Valued connections
7. How many years company have to keep their book of account?
Books of Accounts should be maintained for a period of 5 Years from the end of the financial year.
WHY OUTSOURCE YOUR ACCOUNTING & BOOKKEEPING WITH AVYANCO?
Maintaining a book of accounts can be quite challenging especially in the case of international businesses. In such a scenario, it would be ideal to a have team specialized in Accounting and Bookkeeping; Avyanco fosters very high standards of Accounting and Bookkeeping practices leaving you carefree and more focused on your core business agendas.
We are qualified to deliver tailor-made modules depending upon the structure of your organization. We support your business on the financial front to create a strong base for growth and spreading your business to various parts of the world.