ACCOUNTING & BOOKKEEPING
When are you Launching a start-up, then there is a need for small business bookkeeping services in Dubai or already running an established business? It’s the best way to outsource accounting services in Dubai for bookkeeping solutions. No need to hire accountants in-house. ABN Group can provide you with easy access to qualified, seasoned bookkeepers and accounting professionals.
ABN Group offers a different range of business bookkeeping services provides a cost-efficient option preferred even by more established businesses with an in-house bookkeeper. We are professionals, and our team can work with well-known software programs like QuickBooks, Peachtree, Tally, and other popular accounting applications.
Our Bookkeeping Services Include
- Accounts Payable Management (Vendor Bills and Payments)
- Accounts Receivable Management (Customer Invoices and Collections)
- Cash Reconciliations (Petty Cash and Cash Collections)
- Bank Reconciliations (Checking and Credit Cards)
- Inventory Management
- Recording and Reconciling Payroll Transactions
- Revenue Reconciliation with Bank Deposits
VAT Registration In The UAE Services
The UAE government apply Value Added Tax Act on 1st Jan 2018 to various commodities entire country at an average of 5%, and local businesses may require available VAT registration in the UAE to get better of the cost due to the new tax. We have received a lot of queries with regards to VAT. Provided below are answers to some of the most common questions we have received.
What will be the impact of VAT on your business?
The law is bound to alter your organization’s financial statements as well as the operational prospect of concession to the implemented Act.
Financial prospect: After adjusting the VAT to your financials, you ought to perform some adjustments on your price tags to adapt probable proliferated rates owing to irretrievable VAT in addition to the costing of the financial statement, approximate to incorporate VAT Influence. The cash flow is bound to influence the working capital because of the extended credit terms, plus Zero-rated sales. There are possibilities that in attempts to recover the VAT, it is likely to an outcome to a cost to the business, in scenarios where not correctly claimed. In Inter-company dealings (VAT Group) methods, some possibilities can lead to an irredeemable VAT, where there is a lack of adequately applied VAT action.
The operational prospect may have to amend some contract terms with suppliers, service providers, or customers. Revising the reports of the capabilities of your current IT system to show VAT details is critical. You may also need to burn the levels catch sales, procurement, and within inter-company dealings.
Compliance aspects: Comprises of those necessary registrations centered on yearly revenue, compulsory filing, structures imposed to reinforce internal controls measure and the VAT audits form FTA. Failing to conform to the tax regulations is likely to result in stiffer consequences.
Get in touch with our representatives if you have any questions about VAT or would like assistance on how to conduct VAT registration in Dubai or other parts of the UAE.
