Bookkeeping & Accounting Services
Bookkeeping and Accounting services are vital elements of an organization that helps in keeping track of your income and expenses. The right accountant or bookkeeper helps in the smooth running of your business, by making your financial statements as accurate as possible. Planning to do bookkeeping and accounting service in-house might adversely affect your organization, as you may not be able to give the care it demands. One might have hundreds of other things to take care of and as a result, you might end up making mistakes in financial records.
An outsourced finance department can significantly reduce your administrative burden and finance staff costs, which are the most common reasons, organizations, choose outsourcing bookkeeping and accounting services for business processes. This enables to improve company focus, assurance on continuity of service, and increase flexibility to respond to growing business requirements.
Accounting and bookkeeping services in UAE
HLB HAMT is a chartered bookkeeping and Accounting services firm in Dubai UAE, that offers a variety of bookkeeping and accounting services across UAE and each service can be customized to meet your needs and comfort level. Our technology-driven specialists work to understand the dynamics of your organization so that your specific accounting and bookkeeping needs are taken care of. We provide management with information vital to the functioning of the business and ensure that you are fully compliant with regulatory requirements. We also make it a point to review the accounts prepared by the client and recommend corrections to improve the reliability of financial information and internal control process.
HLB HAMT offers bookkeeping services in Dubai, UAE and also various reconciliation services such as Cash/Bank Reconciliation, inventory reconciliation and receivables and payable reconciliation.
Our Accounting and Bookkeeping services in UAE include:
- Accounting & Book Keeping
- Online Accounting
- Onsite Accounting
- Accounting System Setup & Training
- Accountant Secondment
- Receivables & Payables Management
- Budgeting and Forecasting
- Data Entry or Transaction Processing
- Audit Support
- Reconciliation Assignments
- Management Reporting
- Accounting Supervision
- Sales Audit
- Physical Verification & Tagging of Inventories/Fixed Assets
- Agreed Upon Procedures
- Virtual CFO Service
HLB HAMT is a renowned bookkeeping and accounting firm in Dubai and we have a team of highly qualified accountants and auditors in Dubai, who will take care of your diverse accounting and finance requirements.
Frequently Asked Question – Accounting Services
- Is it mandatory for Companies in UAE to maintain proper books of accounts?
As per UAE Commercial Companies Law, Federal Law No 2 of 2015, every Company is required to maintain proper books of accounts and appoint a registered auditor to get its books of accounts audited every year.
- What are the primary purposes of maintaining books of accounts?
Books of Accounts are typically maintained for four main reasons, e.g., Legal Requirements, Management control of Businesses, informing investors and shareholders on the organization’s financial health, and other third-party requirements, e.g., Banks, Municipalities, or Financial Institutions.
- Why should I outsource my accounting & bookkeeping activities?
Outsourcing services have become a mainstream practice in the business world and accounting is not an exception. By hiring an outsourced accounting firm, you don’t have to deal with the burdens and expenses that come with having in-house employees or doing it all by yourself.
- What are the key benefits of hiring a professional Accounting Firm to manage and maintain my books of accounts?
- Cost-effective: Reduces overheads of your business. Outsourcing is always cost-effective when compared with in house facility.
- Accuracy: Expertise in accounting and reporting services ensures the highest accuracy in the results.
- Focus on core: With complex statutory norms and non-core functions, outsourcing accounting and compliance work help clients focus on the area with higher returns.
- How do you know it is time to outsource your bookkeeping and accounting services?
Some situations commonly compel you to decide on outsourcing your bookkeeping and accounting needs. When your company is growing, and on multiple fronts, a considerable amount of financial information needs to be processed and can’t be handled by in-house accounting personnel.
- Can outsourcing of bookkeeping work for a small business?
Bookkeeping outsourcing works very well for small businesses and start-ups. With the advancement of cloud and software as a service (SaaS) technologies, outsourcing is available easily for small businesses. Many small and medium-sized businesses benefit from our outsourced bookkeeping & accounting service.
- Which are the most commonly used accounting software in UAE?
From small to medium-sized companies, the most commonly used Accounting Software are Quick Books, Tally, Zoho Books, Sage, SAP, and more.
- Will I lose control of my business by outsourcing bookkeeping and/or accounting?
No. You always maintain 100% control of your decision. All we do is to provide the relevant data & information & may give you advice on your request.In fact, you gain more control as you are now empowered to make timely & more accurate decisions based on accurate facts & figures.
- How can an outsourced accountant do better and yet cost less?
Professional Accounting Firms deploy Accountants who are experts in their field. They assign each work according to the skills, qualifications & experience of the staff. There are appropriate controls and procedures in place to ensure accuracy and quality. They use the latest technology and skills to save time and improve quality and accuracy.
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