info@nufcauae.ae

(+971) 507651131

Services

Accounting and Bookkeeping Services

Our Services
Accounting Services in Dubai

The job of a well-paid, experienced accountant cannot be replaced by a number of full-time accountants or inexperienced accounting firms that outsource accounting and bookkeeping services in Dubai or other emirates of the UAE. You cannot be certain of a decision based on the accounting records kept by a regular accountant. A wise businessman does not compromise on the qualities of an accountant or his lifestyle. They want to ensure that the data they use to make important business decisions is “accurate, complete, and reliable.”
In the UAE, compliance requirements are increasing every day and no business owner faces huge fines for non-compliance.
The way a good accounting firm or a smart accountant organizes their accounting records also has to do with how they protect themselves from non-compliance in the complex outside world with ever-changing laws and regulations. Consider the recent changes made by the Government of the UAE, a member of the OECD Inclusive System, by implementing regulations on economic activity in the UAE. These regulations require UAE-based companies to notify government authorities when they take appropriate action as described in these regulations.
For example, the flow of a company's accounting transactions with UAE-related third parties or foreign related parties to determine whether a company is conducting related activities within its distribution and fulfillment center business plays an important role in ESR compliance.
That's not all. As a business owner, how would you like your accountants to carefully record business transactions to ensure VAT compliance? Can I Avoid VAT Fines Due to Bad Accounting? It is not uncommon for countless companies in the UAE to face fines of millions of dirhams for late VAT registration. This is because their account team was not even aware of the voluntary and mandatory thresholds for VAT registration.
These are just some of the many reasons why hundreds of companies have outsourced their accounting services to NUFCA in Dubai and other Emirates.
REMEMBER: Business growth is always stagnant because of the time you spend at work. You're an expert at understanding the requirements that drive your business, but it's impossible to keep track of all the features unless you're a small business.
Entrepreneurs like you are very creative and full of great ideas, but less focused on the mundane aspects of the business.
Even if they can do the work themselves, they easily admit that their valuable time is better spent building a business.
For this purpose, it finds experts and delegates tasks. One of these challenges is accounting and bookkeeping services, and there is no better company to outsource this process than Nadeem & Umendra Chartered Accountants, one of Dubai's top accounting firms.

Key Elements of our Accounting and Bookkeeping Services
  • Setting up an accounting system
  • Set up the account map
  • Record commercial transactions (sales, purchases, journaling...) according to Accounting Principles
  • Specify payments and receipts to match invoices
  • Sort and match receipts and payments with credit cards and bank statements
  • Bank reconciliation statement
  • Coordinate with auditors to audit financial statements
  • Prepare year-end audit schedule and report
  • Prepare year-end working vouchers, compare balance sheet items, make adjustment entries, year-end adjustments, make provision for doubtful debts, etc. to ensure prompt completion of the audit
  • Budgeting and forecasting
  • Extract monthly management report
  • Extract monthly income statement and balance sheet
  • Extract monthly expense report
  • General Ledger Adjustment (operating and financial ratios and more)
  • Backup and archiving of data files Bank-grade security
  • Overview of Weekly Bank Reconciliation statements
  • Payroll Vrification and Processing
  • Financial writing service
  • Monthly account presentation to help you better understand your business
  • Monthly management reports highlighting critical areas for improvement, including areas of business improvement
  • Coordinate with accountants (in case of partially outsourced accounting services)
  • Break-even analysis (if required)
  • Ratio analysis
  • Any other reports on request, e.g. cash flow forecast reports
  • And of course, great customer support