Bookkeeping Services in Dubai : Bookkeeping is a system of record keeping about the financial aspects of business transactions in suitable books of account. It is the basis of accounting and financial reports. Bookkeeping involves noting the financial transactions in ledger books or using accounting software. Proper book keeping impacts general ledger accounts as well as the other financial statements. In Dubai and the rest of the UAE, a bookkeeper is essential and has the important responsibility of recording all the financial transactions of the company correctly and on time.

Financial Gauge

It is essential that one keeps track of all the financial transaction of the company. This gives information at hand which helps plan for billing and payroll management according to the income. So, maintaining account books is critically important for the efficient running of any business.

Protection From Fraud

Keeping a check on the accounts, can help in catching any fraud or other financial misdemeanour. For example, bouncing of cheques can be prevented if capital estimation is made for upcoming payments. This protects the business from getting into a financial mess.

Monitoring the Budget

Having a budget and monitoring the same gives a correct picture of the company’s income and expenses. This helps compare results with projections in the annual budget and amend plans to deal with the situation ahead. If record keeping is efficient, the information about the financial status of the business is also up to date. This data can be used to reduce expenses and identify best option for investment.

Tax Implications

Bookkeeping helps in corporate filing tax returns for a company. Efficient book keeping can also help you identify tax deduction possibilities and save you more money, thereby increasing profits.

Black Swan provides help with bookkeeping services in the UAE as given below;

Bookkeeping involves activities that are technical in nature and is not specialized particularly for any industry, so it is quite common to outsource bookkeeping and accounting services in Dubai.

The benefits of outsourcing your bookkeeping services in Dubai and the rest of the UAE are:

Businesses mostly prefer to outsource bookkeeping responsibility because it has to be handled by experts. Delegating the bookkeeping, thus ensures the work is done properly and saves time as well as money for the businessman. This is very important when the business prefers a small team to manage it. The time and money saved can be better spent on core functions as well as for research and development.

In-house book keeping is not flexible and has fixed cost to the business. Outsourced functions on the other hand, have the benefit that they are responsive and scalable as per needs. It is only when one’s bookkeeping is outsourced, that it can be adjusted, to fit changing requirements as per the extra workload or slow business periods. Thus, it is found to be cost-effective and more profitable.

Firms that handle bookkeeping for businesses, appoint highly experienced professionals to carry out bookkeeping services. These consultants can also provide expert advice to handle your financial matters as the company develops and grows over time.

Our bookkeeping services aim is to reduce your administrative burden and keep your expenses in check. Proper financial reporting and maintenance helps to continuously streamline business plans for greater success. Rest assured, we are also very responsive and you will surely benefit from the increased flexibility in meeting all your requirements. You can then work freely on the growth and improvement of the company’s performance by concentrating on core areas of the business

At Blackswan Business Setup Consultants, our team of experts set up the bookkeeping function for entrepreneurs in Dubai as well as rest of UAE. When you decide to start a business in Dubai, please contact us, even if it’s only for clarifying any doubts you may have or just some advice you need.