Last updated on October 14th, 2019 at 08:29 am
Bookkeeping & Accounting For Startups in UAE
Bookkeeping in a business firm is the basis of the firm’s accounting system. Bookkeepers are responsible for recording and classifying the accounting transactions of the business firm and techniques involving recording those transactions.
If you are a small business owner, you either have to set up your own accounting system or you have to hire someone to set it up for you. If you are self-employed and it is a one-person business, you will do it yourself. If you are hiring staff and anticipate a lot of growth, you may hire a controller to handle your financial management and accounting. If your business is going to grow but you anticipate slow growth, you may simply hire an accountant or bookkeeper to handle the accounting system.
Accountant vs. Controller
Where the bookkeeper records and classifies the financial transactions of the company, the accountant takes the next steps and analyzes, reviews, reports, and interprets financial information for the company.
The controller is actually a company’s chief accounting officer. He/she is responsible for setting up and maintaining the company’s accounting system. The controller is responsible for financial and managerial accounting; in other words, responding to the firm’s accounting data in an appropriate and responsible manner. A controller is usually hired as a business gets larger.
For Small business, to afford an accountant requires large amount of money involved. Since it is a startup it will be better to save that amount without compromising on the standard of the work involved.For that you can go for outsourcing these accounting works.Here Alya finds its space, we can provide all the requirements that you need without compromising on the quality of the work we do.Thus making you grow along with us.