Accounting Services in Dubai
HLB HAMT offers Accounting Services in Dubai, UAE & Advisory services entailing paramount quality account and financial record maintenance and customer support. Our accountants in Dubai will help you to significantly reduce the administrative burden and exuberant financial costs incurred.
This enables our partners to channelize and streamline their efforts to concentrate on core risk areas and improve company performance with increased flexibility to respond to growing business and accounting requirements in UAE.
HLB HAMT, a renowned accounting firm in Dubai, takes care of your distinct financial needs and also ensure that your businesses strategize better and scale new heights. Our chartered accountants in UAE are proficient in manifold aspects of accounting and finance and thus our clients’ company accounts are safe in our hands. You can rely on our team for accurate accounting services and use your valuable time on other significant areas of your business.
Accounting Services in Dubai
Online or Cloud based Accounting Services in UAE
Most popular in modern era with the Startups and SMEs to whom flexibility & scalability are of prime importance. Financial Information can be accessed from anywhere at any time with internet access.
Onsite Accounting Services in UAE
Preferred by Mid-Sized to Large Entities, where transition to another platform is a time-consuming and cumbersome exercise. Results in more close interaction with the Client.
Accounting System Setup & Training Services in UAE
Assistance in setting up a proper accounting system and process flow. Provide training on how to use the Accounting Software. Read More
Accountant Secondment Services in UAE
Qualified and Experienced Accountants at your service for a temporary period ranging from one month to six months. The period can be extended on mutual consent. Read More
Receivables & Payables Management Services in UAE
This mainly includes:
- Creation of POs/Invoices
- Electronic delivery of POs/Invoices
- Timely follow-up/Timely payment
- Periodical Status Report to the Management
Budgeting & Forecasting Services in UAE
Assistance in preparation of periodical budgets like revenue and expenditure. Also, cash flow forecast which enables the business to know the expected inflows, outflows and available balance over a particular period.
Data Entry or Transaction Processing Services in UAE
At HLB HAMT, we have a Team supported by back office in India where we can undertake a high volume of data entry or transaction processing of any kind with high accuracy at very affordable price. Read More
External Audit Support Services in UAE
Audit being the Core Service at HLB Hamt, we have a dedicated team who can easily understand the External Audit requirements and collaborate with the external team to ensure the audit is completed on time.
Reconciliation Assignments in UAE
This requires where the volume of data is very high. The reconciliation service mainly includes:
- Cash/Bank Reco
- Inventory Reco
- Receivables & Payables Reco
Management Reporting Services in UAE
Customized Reports to the Management on time to aid decision making. Ensure that the financial information provided are reliable and in compliance with the standards. Read more
Accounting Supervision/Internal Accounting Review Services in UAE
Providing an independent eye to review the accounts prepared by the Client and recommend corrections to improve the reliability of financial information and internal control process.
Sales Audit Services in UAE
Being listed with most of the Mall Authorities, carrying out more than 1000 sales audit in a year for various well-known brands, HLB HAMT should be anyone’s preferred vendor for this particular service. Read more
VAT Compliance Review & VAT Filing Services in UAE
As VAT cannot be separated from the Accounting System, here we take care of the VAT Compliance and VAT Filing requirement of startups to very small and mid-sized Entities at very affordable prices.
Physical Verification of Inventories in UAE
The Services include:
- Physical Count (including barcode counting)
- Supervision of Stock Count
- Asset Tagging
- Reconciliation with System Stock
Agreed Upon Procedure in UAE
Its an independent audit of relevant extracts from the Financial Statements as per ISRS 4400. The usual assignments we undertake includes:
- Exchange Remittance Audit
- Revenue Audit
- Expense Audit
- Receivables/Payables Certification
- Inventory Certification
- Any other relevant certifications
Virtual CFO Services in UAE
The Services include:
- Interpretation of Financial Information
- Suggest measures to boost revenue and control expenditure
- Special Reports tailored to Client requirements to aid decision making like Budgeting, KPIs and other Business Efficiency Reports
Frequently Asked Questions – Accounting Services
Why it is critical to maintain accounting in the UAE?
- Statutory Requirements
a. Commercial Company Law
The Commercial Company Law requires all the entities registered in UAE to maintain the books of accounts as per International Accounting Standards and appoint Auditor to do the Audit of Books of Accounts annually.The Law provides that each company shall maintain accounting records showing its transactions, provided that such records would accurately and at any time demonstrate the company’s financial standing. Such accounting records shall be maintained at the head office for at least 5 years from the end of the fiscal year-end date.
b. UAE Value Added Tax
The VAT regulations also require a UAE company to record the business transactions and maintain the books of accounts.
- Management Requirements
Accounting plays a vital role in running a business because it helps you track income and expenditures, ensures statutory compliance, and provides investors, management, and government with quantitative financial information which can be used in making business decisions.
- Statutory Requirements
When to consider outsourcing of Accounting and VAT Services in UAE?
Typically, it is always beneficial to outsource accounting function than to do it in-house. But when the company is a start-up or at small or medium scale, it is advisable to outsource the accounting and VAT Compliance work.
Also, at times where business needs to control the cost without compromising on information quality, outsourcing is a good choice.
There are many models in which outsourcing is done, including Data entry & Bookkeeping, outsourcing of supervision, outsourcing of Finance controlling etc. Each of the options has their own value for money.
How is the costing and fees structure determined? Is Accounting outsourcing services expensive in UAE?
The professional fees for outsourcing of accounts are usually based on Blended Man Hours / Days Rates. These rates are worked out based on amount of time and expertise needed to do an assignment. Effectively, it only charges the productive hours of working on an assignment; therefore it is less expensive when compared with in-house teams.
Do you get Advisory on technical and commercial matter from VAT and other compliance points of view?
During the professional account outsourcing, the teams are trained to identify and review the applicable statutory compliances including VAT, Excise, ESR etc. Therefore, the client gets well in advance the advice as to what compliances are required to be done and the process to be followed to do that.
What are various penalties for not maintaining correct and timely books of accounts?
Administrative penalties for not maintaining proper books of accounts with supporting documents are prescribed under Federal Law which ranges from AED 10,000 to AED 1,00,000.
What extra support does a customer get in outsourced accounting services in UAE?
Apart from accounting and reporting, the entity gets professional support and guidance on various matters including Statutory Compliances, Payroll, Banking operations, Budgeting & Forecasting, Fund Raising etc.
Awards and testimonials
BEST AUDIT FIRM OF THE YEAR 2015
DMCC Top Performing Consultants 2016