Accounting Services for SMEs in the UAE

They usually cover bookkeeping, bank reconciliations, receivables and payables, payroll accounting, management reports and year-end financial statements. For UAE SMEs, they should also keep the records behind VAT and Corporate Tax returns, so every filed figure can be traced to source documents.

Yes. Every business needs records that support its tax position: Corporate Tax records must be kept for at least seven years after the end of the tax period, and VAT-registered businesses must hold the invoices behind each return. Licensing authorities and company law add their own requirements.

IFRS is the default. Under Ministerial Decision No. 114 of 2023, a business with revenue up to AED 50 million may use IFRS for SMEs, and one with revenue up to AED 3 million may use the cash basis. Choosing early avoids restating accounts later.

For Corporate Tax, audited statements are required only when revenue exceeds AED 50 million or the business is a Qualifying Free Zone Person. Many free zones and licensing authorities require an annual audit regardless of size, so check your licence conditions.

It lets a UAE resident business with revenue of AED 3 million or less, in the current and every previous tax period, be treated as having no taxable income. Ministerial Decision No. 131 of 2026 extends it to periods ending by 31 December 2029. You still register and elect it in your return.

Registration is mandatory once taxable supplies and imports exceed AED 375,000 over the previous 12 months, or are expected to within the next 30 days. Voluntary registration is available above AED 187,500. Returns are then filed and paid within 28 days after each tax period.

There is no fixed price. Fees depend on transaction volume, bank accounts, VAT and payroll, inventory, reporting frequency and any backlog. KGRN quotes after reviewing your records and volumes, so the scope matches the work your books actually need.

Yes. We review your existing records, agree opening balances and either continue in your current system or move you to a cloud system. A handover checklist covers balances, open items and documents, so nothing is lost in the transition.

Yes. Backlog accounting rebuilds past periods from bank statements and source documents, so overdue VAT and Corporate Tax filings can be supported and financial statements prepared. Where documents are missing, we record the gaps and the assumptions used.

If revenue is below AED 50 million, you must appoint an Accredited Service Provider by 31 March 2027 and issue in-scope B2B and B2G invoices electronically from 1 July 2027. Your accounting system and invoice data need to be ready before then.

It depends on volume and complexity. Outsourcing gives access to bookkeeping, tax and reporting skills for a scaled fee, while an in-house accountant offers daily presence. Many SMEs combine both, with outsourced review, VAT and year-end work.

Yes. KGRN Chartered Accountants provides bookkeeping, reconciliations, management reports, year-end financial statements and VAT and Corporate Tax-ready records for SMEs across the UAE. Call or WhatsApp +971 54 586 4906 to discuss your requirements.