In a business, there are so many transactions taking place. It is impossible to remember all the transactions. Hence, there is a method to make this easier- Bookkeeping. Bookkeeping is the process of recording and verifying day-to-day transactions in a business. Bookkeeping and accounting are different. Bookkeeping is an important pillar that enriches the success of the company by maintaining the financial records of the company. But accounting helps in analyzing the accounts.
In Dubai, a bookkeeper UAE assumes significant importance due to their functions.
Bookkeeping Services in Dubai:
Under UAE Law, all business entities must obey the accounting rules and regulations as per International Financial Reporting Standards (IFRS). The bookkeeping service Dubai is often preferred. Accounting services in UAE are a major relief to all entrepreneurs.
What Are the Benefits of Bookkeeping Services?
There are many reasons why bookkeeping services in Dubai are preferred.
- Financial Barometer
- Safeguard against Fraud
- Budget Monitoring
- Tax Implications
- Professional advice
Need for Bookkeeping Services for business firms:
The most chosen and easy method of bookkeeping is the double-entry method. In this method, every transaction is recorded twice in the two corresponding accounts simultaneously. Here, the total debit must be equal to the total of credit to maintain the financial balance of the firm.
- It eases the process of the company audit.
- It is necessary for future forecasting.
- Bookkeeping helps in decision-making.
- Bookkeeping helps in reducing malpractices and risk assessments.
- It helps in preparing and managing financial statements.
If you are looking to start a business, KGRN is one of the professional accounting and bookkeeping companies in UAE. It will assist you with all your accounting and bookkeeping services in UAE.
KGRN with hundreds of expert Bookkeepers UAE will ensure complete quality and satisfaction.
Contact us for more inquiries!
For enquiries, call +971 45 570 204 / E-mail: firstname.lastname@example.org