- November 27, 2020
- Posted by: kgrnaudit
- Category: Bookkeeping
Accounting and bookkeeping are the primary aspects that lay the foundation for the growth and success of any business. They are the two strong pillars that drive the escalation of your business. Accounting and bookkeeping services are essential for both the financial and legal management of your business. These services help you to constantly monitor the fiscal health of your business and formulate strategies to improve it in the long run.
Read on to find out more about the bookkeeping and accounting services Abu Dhabi and its overall contribution to businesses and the country’s economy.
Accounting vs. Bookkeeping services:
Accounting and bookkeeping might seem like the same terms for beginners. However, they are quite different fields.
Bookkeepers help you in recording and maintaining the day-to-day transactions of your business. They help in ensuring the legitimacy of your records and calculate the incomes and expenses of your businesses.
Accountants are professionals who are responsible for the general management of accounts, financial statements, and tax returns. They help in ensuring the compliance of your businesses with the UAE’s laws and regulations.
Why do I need bookkeeping services in Abu Dhabi?
Professional bookkeepers, as already said, are the vital aspects of any business. They provide the following services for businesses in the UAE to manage their finances:
- Bookkeepers help in managing your company’s day-to-day transactions and cash flow.
- They help in maintaining the accuracy of the records and flag inconsistencies if any.
- Bookkeepers guide your businesses to stay consistent with the UAE’s VAT laws and other tax-related legalities.
- They also help in managing your bank accounts and handling invoices, petty cash, and other expenses.
- Maintaining your book of records with the help of professional bookkeepers can help you stay prepared for financial audits.
- The book of records will help in making your payroll processing easier.
- Book of records will help you in analyzing the stock value of your business.
- The book of records and financial reports will further help accountants in formulating strategies for developing your business.
Why do I need accountants in Abu Dhabi?
Accountants help in bringing order to the financial structure of your business. Here are a few other reasons why your business needs an accountant:
- An accountant will help in the formation of your business in the UAE.
- Accountants help you formulate a business plan, register your business, and acquire the necessary licenses.
- They also help companies deal with complex fiscal matters like payroll issues, tax issues, and other similar reports.
- Accountants in Abu Dhabi help you in assessing discrepancies, inconsistencies, and identify your blind spots.
- They also help you during the processes of financial audits and forensic investigations.
Advantages of accounting services Abu Dhabi:
- They help in maintaining the legitimacy of your financial reports and book of records.
- They help in comparing the results of your financial statements and reports.
- Accounting firms in Abu Dhabi also help in handling the legal affairs of your business.
- The framed financial reports might also serve as evidence in legal affairs in the court.
- Accountants also help in evaluating your businesses and providing information to stakeholders.
KGRN is one of the leading accounting firms in Abu Dhabi. We have a team of knowledgeable and well-experienced professional accountants and bookkeepers who are here to help you in improving your business strategies.
Contact our professionals in the UAE for more details on KGRN’s accounting firms in Dubai
For enquiries, call +971 45 570 204 / E-mail: email@example.com