8 Biggest Lies On Accounting Services

Accounting Firms in UAE,Dubai

If you want to manage your accounting in your business, you may want to hire the best accounting service today. This type of service is very useful to support your finance or management system in your business.

When you look on the market in Dubai, you can find many types of accounting services in this country. Therefore, you need to compare some available companies for looking at their features and benefits for all customers. This article is going to show you top 8 biggest lies in
this industry.

Some companies may provide these lies to their customers, so you have to be careful with these companies.

1. Accounting is a complicated procedure

Some accounting service companies claim that the accounting can be considered as a complicated procedure. However, you should never trust this idea. In fact, accounting is an easy way to manage your finance situation in your own company.

When you hire the best accounting service company, you should be able to take a good care of your accounting process in your business easily. Because of this reason, you need to select the best service that comes with a lot of experience in this industry.

You need to hire the best accounting service that can complete your accounting requirements quickly.

2.Expensive accounting service

Some people believe that hiring an accounting service is an expensive part in the business. This is believed to be one of the biggest lies on the accounting industry.

When you look on the internet, you can find some services that are offered at very reasonable price. You don’t need to spend your money for hiring any of these services.

Some companies are ready to provide you with free quotation for all customers. This quotation includes all important details about the service, such as contract period, labor cost, accounting management cost, and many other important factors.

3. No warranty in the accounting service

This is another common lie that is given by some accounting services in Dubai. Some companies claim that they are unable to provide warranty for all customers. However, you should not worry about this situation. You can still get the best accounting service that is offered with its warranty.

This warranty can make sure that you can complete your accounting project properly.When the company cannot complete your accounting project on time, this company is going to refund or redo your accounting project completely. This warranty is very useful to ensure the quality of this type of service.

4. No need to hire experienced accounting service

When you want to select the best service to support your business needs, you should never believe with this idea. It is important for you to select the best accounting firm that has enough experience in this industry. It is a great idea to select the right accounting firm that has few years of
experience.

Experienced companies usually have high quality and proven services for all customers. Therefore, you are able to rely on the performance and quality of these experienced companies. They will be able to complete any problems or issues that may occur on the accounting process.

5. All accounting services are similar

This is another common mistake that you should avoid, especially if you want to hire the best accounting service for your business. You should realize that not all services are created equal.

Some services are able to provide high quality service for all customers, while some other services cannot help you with your accounting process in your business.

Because of this reason, you have to compare some available services in Dubai. You should take a look at all necessary factors, such as available services, license, experience, and many other essential factors.

6. Instant result from this service

You should realize that there is no instant result from this accounting service. This type of service is going to take your time for taking care of your accounting process. It is very important for you to keep calm and be patient with the whole accounting procedure.

Some companies are able to complete your accounting requirements in a few weeks, while some other companies may need to spend a few months for completing your accounting process. However, you can still hire the best service that can provide complete details, so you can monitor the progress easily.

7. No complete report from this service

Not many people realize about this lie from this accounting industry. Some accounting service companies cannot provide complete report for all clients. However, you should not worry about this situation.

You can contact the best accounting service company that can provide complete report for all customers. This complete report may include all important details about your accounting or finance system in your business.

You can use this report to discuss with all members in your company, so you are able to improve your business performance easily.

8. No backup for your accounting data

Some companies don’t want to provide backup for all customers. They claim that they are unable to provide complete backup, in order to secure all of your data completely. This is one of the biggest lies on the accounting industry.

You can contact some companies that can provide full backup for your data. This backup is very important to help you secure all important and necessary data files for supporting your business performance. Securing all of your data is very important to avoid losing any important data from your company. You may need to open any data files in the future.

There are many other lies about accounting industry in Dubai these days. It is important for you to hire the best accounting service that is available in this country. Selecting the best service can help you take care of your business easily. Hiring high quality accounting service allows you to manage your finance and money in your company properly.

You may want to hire the best accounting service that is offered by reputable company these days. You can find reputable accounting service firm
in Dubai,UAE easily.

6 Reasons To Hire Us As Your Forensic Accounting Firm

Forensic-Accounting-Firms-in-Dubai-uae

It can be quite challenging when you need to find a good forensic accounting firm in Dubai.

Prior to choosing a firm for the forensic accounting, you must make sure that you have considered some factors.

We are among the leading firms in Dubai and here are some of the reasons why you need to hire us as your preferred forensic accounting firm.

1. We Are Trustworthy

We value our clients and we make sure that they have received the most reliable services required.We aim mostly at making our clients feel comfortable while working with us.

Trust is a very vital aspect that needs to be considered when dealing with any forensic auditing & accounting firm in Dubai,UAE. It is also an aspect that we highly value, since we deal with legal matters at our firm.

A forensic accountant will be hired to carry out deep analysis and scrutiny on financial aspects, which needs fidelity.

We always want the clients to feel comfortable hiring us for the sake of carrying out the necessary services.

We usually take time to explain to the clients bout our company and all the skills that we possess, for the sake of making them trust in us.

2. We Are Experienced

Another important aspect that too many people ignore, yet is very important is the year of experience of a given firm.

A firm must be able to have extensive experience in their field for the sake of being able to carry out their job as required.

We have been in the field of forensic accounting for quite some time now and it is through this that we have earned more knowledge in the field.

Our accountants have a longer certification period, being able to carry out deep job specifications. We are able to handle deep cases relate to forensic accounting.

3. We Have Enough Proficiency

The expertise of a firm is another aspect that you must consider when you are looking for a forensic accounting firm in Dubai,UAE.

Other than the years of experience in the field, the firm must also have enough knowledge about the topic. It is not only about what they have experienced throughout their years of operations.

Also, it is required that the firm must understand what they are doing in the field. Our firm has a deeper know-how in the field, which is a great aspect that contribute to the many cases we
handle.

We are able to take care of several cases that relate to the forensic accounting. For that, we will be able to handle whichever case that is put on the table.

We have a record of all the cases that we have handled, both the successful and the unsuccessful. The successful cases that we have in our records total to about 85%. This is a clear indication of our ability to handle cases with the right skills.

We will always be ready to provide the clients with all our most recent reports. This is only as a
proof that we have handled real cases.

4. We Are Always Available

We are dedicated to serve our clients in the expected manner and always be there in case of any
problems. This is another factor that matters most when you are in search of a forensic accountant.

You must ensure that you find a firm that will always be there whenever you need them. We are not
just physically available, but we also avail ourselves through the phone and the internet.

We have an ever active email account that will be responded by our trained personnel. This will take the shortest time possible when you need your answers urgently.

The phone line is also ever active and for that,we are available to our clients whenever they need us.

5.We Are Affordable

A forensic accounting firm must be fair to the clients, in terms of charging them with reasonable prices. The price quotation of the firm must be within the reach of the average client.

We are considerate of our clients and we ensure that we have provided them with prices that do not care them away.

We only charge fees that relate to our service quality. We are not too high, neither are we too low, but we charge reasonable fees, which match the quality of services that we offer to our clients. This is another aspect that make us a favorite of many people.

6. Informative

We do not just offer the forensic accounting services, rather we also provide our clients with the right information that relate to the field. We will guide them in understanding the forensic accounting perfectly and ensuring that they know what it entails.

Our accountants help to educate the clients on when and why they need forensic accounting. This is an aspect that is vital, since the clients need to understand what it entails and how helpful it is to their organization.

We are basically valuable to our clients and not only in terms of serving them and representing them in court, but also educating them with the right information.

It is vital that the forensic accounting firm to be open enough and loyal to their clients in order to ensure that they get the best services.

We ensure that our clients receive the highest degree of services. In addition, we ensure that they get help whenever they need it, by contacting us whenever they have a problem.

Mistakes People Make When Choosing An Accountant in Dubai

Accounting & Audit Firms in Dubai UAE

In order to maintain and mange the fun many people take the help of an accountant and that is a good practice to do. But even after hiring an accountant many people lose their money because they make some mistake while hiring an accountant. If you wish to know about those mistake that people make while hiring their accountant so you can avoid those mistake, then following are a few mistakes people make when choosing an accountant or an accounting firm in Dubai.

1.Not knowing their needs:

This is one of the biggest mistakes that many people make while choosing an accountant for their work. Many time people hire an accountant without knowing what they actually want to have from their accounting expert. This mistake not only cost more money to you but you do not get the best output as well from your accountant. So, when you hire someone for your accounting make sure you evaluate your need first before hiring an accounting expert for any of your accounting work.

2.Not asking questions:

Keeping the mouth shut while hiring an accountant is one more major mistake that many people make on regular basis in this requirement. When you hire an accountant then you might have a lot of question in your mind and asking those questions would explain if your accountant knows something about the work or not.

Hence, if you wish to avoid this complication then make sure you talk with him and you ask as many questions as possible. Also, if you have any doubts in your mind then don’t mind asking that with your accountant.

3.Not taking references:

Not taking references for accountant is another big mistake done by many people while hiring and accounting expert. With the help of references from other people you can know if any accountant is good enough for its work or not.

So, if you will check the references while choosing any accountant, then you will be able to choose an expert who knows about the work in the best possible manner.

4.Hiring a less experienced accountant

In terms of accounting, experience is a major factor and if you will hire a non experienced accountant then it will be a big mistake from your side. To avoid this mistake it is necessary that you choose only an experienced accountant that has done the accounting work for other people. This precaution will keep you away from any kind of trouble and problems.

5.Not talking about the fees:

If you have a small work such as filing of income tax return, then you would prefer not to pay a lot of money to your accountant. There is nothing wrong with your expectation but if you will not talk to your accountant about the fees before giving the work to him then you might need to pay a lot of money for that. To avoid this mistake it is strongly recommended that you talk about the money in advance and you go ahead only if you are fine with the fees.

6.Not contacting a local Auditing & Accounting Firm in Dubai:

Many people think if they will contact some external firm for the accounting work then they will get better result with it. However, I have a different opinion here and I believe that is mistake that people do very often. I only suggest you to hire a local accountant for your accounting work.

This local accounting & auditing firm in Dubai can see your details  can talk to you in case of need and he can guide you the right ways for the solution of your problems.

7.Using a very big or small firm:

Choosing a very big or small firm for the accountant is one more mistake that you should avoid. If you will choose a very big firm then it will charge more money to your work and it may give less importance to you if your work is not big enough for them. Similar to this a small firm may not have the capability to finish the work for you and that’s why it is necessary that you choose a firm or accountant in wise manner.

8.Not knowing accountants capability:

If you are choosing an individual accountant then you need to have clear idea about his capabilities else it will be a big mistake by your side. To know more about the abilities of your accountant you can simply talk to him, you can ask about his previous work and you can ask how he will give benefits to you if you will hire him.

9.Not asking about your benefits:

The basic idea of hiring an accountant is that you keep your books in order. But along with that you expect financial benefits as well and not asking about these benefits is a big mistake by people.

To avoid these mistake it is suggested that you talk about all the benefits that you will get if you will hire him as your accountant and if you get satisfactory answer then only hire him for same.

10.Not checking reviews:

It doesn’t matter what kind of services you are taking, checking reviews of that service provider is

always the best thing to do. If you will skip that part then I would call it a mistake and I would urge

you not to make this mistake in any condition. For this step you can simply go online and you can

check reviews about your accountant on various reviews forums. In most of the cases you will get

detailed review about the accountant from online websites and you can choose one in wise manner.

11.Not checking licenses:

An Accountant needs to have some licenses and certification to do the work and if you are not checking the licenses, then you will be making a mistake in this case. 

So, I don’t have to explain that while choosing an accountant you shall check all the licenses or certifications as well that he has.This precaution will keep you away from many troubles and you will get only the best output from the service.

Making the Most of Accounting Services in UAE

Accounting & Bookkeeping Services in UAE

Accounting Services in Dubai,UAE

One way to concentrate more on the business in these days is to outsource your accounts to an accounting service providing firms in UAE. There are many companies and organizations that seek out outsourced business accounting firms to manage their operational and functional areas as well as to oversee financial and business matters.

For every business, financial decisions are important. That’s why companies and organizations are helping to find such bookkeeping services that can help if their bookings and transactions look the way they are and also prevent fraudulent and other theft. Because there are many audit firms that operate from other countries to provide the best services to their clients no matter what the world’s angle.

These services are really necessary and can not be denied for their importance. They are cost effective and ensure transparency in the system and in the accounting records. These services also ensure that accounting has no gaps and that the company can make the most of its business. The accounting systems that are outsourced are often an austerity program, as many countries have to pay higher salaries to the people they employ to manage their accounts and become a costly affair.

If you are determined to outsource business accounting services, you must ensure that the services provide facilities that relate to payroll data and other financial matters.

Our services include Auditing, Bookkeeping, Payroll, Tax, Company Formation as well as a Business and Financial Advisory service proven to add value and help your business to grow.

Other services required by a company itself from outsourcing include the preparation of cash book and bank reconciliation statements, as well as the list of investments and other liquid assets.

You should also prepare the management accounts and consolidate the group and prepare the income statements and balance sheet for the company to reflect the full accounting scenario.

Now, the company hired for these professionals should be confident that it will evaluate your business to the best of its ability, enabling your business to make bookkeeping transparent and clear. Accountants should have the best expertise and the best of software and tools to make things easy and less error-free. It is not possible for the business owner to manage each department and to ensure that the final accounts are prepared in a timely manner and the professionals providing accounting services in Dubai  help you with this. You can make an appointment before hiring them for your business.

Understand how they work and build a strong professional relationship that will help you grow with them by being a partner to your success.

The importance of accounting can never be enough. Every company must comply with regulations and accounting standards to ensure that books are prepared in the right way. You must submit the

returns and submit the correct numbers to request deduction of the eligible items. Only subject matter experts have the knowledge and experience of the latest accounting and auditing changes.

Therefore, it is best to hire an expert in the industry.One of the most important thing to consider is their expertise and experience. An experienced accountant will help you in a variety of ways and also help you make the right financial decisions.They have professional industry knowledge and the skills and experience to make the most of their knowledge. Choose a firm that has the expertise for companies related to your industry. This will ensure that your business grows with every decision you make, and there will be the right professionals to guide you.

Benefits of Outsourced Accounting & Bookkeeping Services in UAE

 
Affordable costs

Regardless of whether these services are provided by a freelance accountant or by a company providing accounting outsourcing services. In both cases, you benefit from the provision of accounting services, as both offer their services at competitive prices. On the other hand, you can focus on other important aspects of your business and your business, and thus make more profit forthe business. You can also save on training your amateur staff.

Professional assistance

Outsourcing your accounting needs would mean that you have your work done by a professional company that has more experienced workers. With world-class services, you can also focus on more important issues of your business for more profit. Outsourcing accounting is beneficial to smaller companies as it is in the hands of qualified professionals with training and extensive experience in financial transactions. You can achieve the desired goals with less labor.

On time delivery.

Since professional companies providing accounting services take account of your accounting details, your work will be done in a limited amount of time. You will be able to complete the process in less time as they can solve the daily work on such issues. This will give you punctual delivery of your work.

Affordability

Many outsourcing accounting firms offer a variety of packages tailored to your business needs. With these packages, you can control how many hours are spent on accounting or bookkeeping services, so you can track them as monthly expenses. Think about what your time is worth, and measure it with the cost of outsourced services. Not only does the hourly rate stand out, but it’s also what you do not focus on when you’re tracking down missing expenses or reconciling accounts. You will probably find that outsourcing is a really good business.

Alya Auditors Specializing in eight core UAE and international business sectors, Alya Al Marzooqi Auditing (Alya Auditors) has its head office in Business Bay local accountancy and business advisory services in SAIF Zone offering our Brighter Thinking approach. We are one of the Top Accounting Firms in Dubai, UAE. We have approved auditors in all major Free zones including DMCC, DWC, JAFZA, SAIF Zone, Maydan, etc.

Alya offers a wide range of accounting services to ensure that you have tax-ready financial statements when you need them the most. By choosing us as your bookkeeping partner, you avail paper free bookkeeping and accounting solutions professionally delivered with utmost security and confidentiality in the shortest turnaround time.

 

10 Reasons For Why You Should Hire An Accounting Service Provider

accounting companies in Dubai UAE
Accounting Firms Provides Certain Positives For The Business Owners

Business accountants are there to provide business owners to help on ways to use their assets to get the best out of them.

The financial status of any business should be left to a professional who is skilled and knowledgeable to provide a complete guide to the process and they provide valuable counsel on major information for any business to be aware of.

Business owners are usually professionals in their business operations industry, but then, they are rarely accountants or legal experts.

Accountants have experience providing valuable information that will actually shed light on ways of managing and saving money to enable your success to flourish.

Here are some reasons to hire an Accounting Service Provider/ Accounting Firm in UAE.

Business Assets

Any professional accountant will keep an eye first to your business and become familiar with it, and then the accountant will professionally handle all your business assets including the total ledger balance as well as all its debts, credits, any profits that may be generated into the business and losses accrued at a certain period of time.

These professionals are in a position to provide advice on ways of keeping monetary resources as they have some particular insight into the business’s financial position.

Tax Assessments

These professionals are ever updated and they are usually equipped with the approximate tax law knowledge for businesses.

They are there to provide verification compliance services that will thereby ward off all troubles that you might be encountering in taxation. They as well know the many tax breaks as they happen to help you get the best claim value reward that might be available.

Technical Financial Systems

These professionals are skilled and always updated on means of applying latest technical aspects for accounting problems like for instance with the software that helps in coming up with quick statements and business reports and also not forgetting access to crucial business financial information.

This can greatly help business owners in many business areas as a business owner will be led to some of the most organized systems of accounting.

Business Planning

A professional firm providing these services can act as a business advisor and they are capable of providing business reviews to provide important business information for major financial reports that your business can actually rely upon when making other crucial business decisions.

These professionals can provide a helping hand with appraising future projects viability with forecasts of gains and losses. The expertise of an expert accountant can be such instrumental in preparing different business plans and proposals that will enhance the growth of a business.

They often have experience in business organizations that are similar to what you run. This provides such a worthwhile business experience advice for the kind of business you may be running.

For instance, these professionals are capable of providing useful suggestions right from evaluation calculations as they will likewise set some income targets that are grounded upon a specific financial situation and also other business targets.

Networking and Referrals

Accountants normally receive respect in the business community. Because of this, they can provide such valuable networking contacts that will enable organic business growth.

They actually have similar customers that can be greatly utilized as important or rather relevant contacts that can be a point of reference by different clients.

They are people who can also provide selling networks, buying as well as with potential partnerships in business and any other venture that might turn profitable.

These are actually some of the just few benefits that as a business owner you can receive by hiring a professional accountant for the business you own.Many people actually think that accountants are there just to crunch numbers, but then, they are capable of providing essential and worthwhile business and tax advice that can be important to the business you run and its future success.

These service providers actually have enough understanding of enterprise financial statements and taxes and they are there to help business owners make the right possible business decisions. 

As a business owner, you need not to worry about any accounting tasks like for instance payroll processing, bookkeeping services and also tax preparations as these professionals are there to carry out these tasks for you in the accurate manner possible. Other advantages of hiring these experts are;

Time-Saving

Actually, juggling all hats all by yourself and at once can create great messes that will, in turn, lead you to suffer losses. With this, it will be such important considering leaving the most time consuming and basic accounting tasks to a person who is well versed with it.

With these professionals, you are assured to not only save time but also maintain accuracy. The accountants will keep track of all your daily financial data entry that includes daily sales, purchases, payroll data, bill payments, tax payments, and many other business tasks.

Cost-effective solution

Actually, many business owners do believe that hiring an accountant to help in providing accounting services is such a cost thing. This is not the case as outsourcing these services is an important thing to shave off all business cost overheads.

Revenue generation

To other business owners, they normally hire these professionals and place the cost of paying them as an added expense to the business.

In reality, if they can try to figure out the number of hours they might spend in carrying out similar tasks, they could have used them carry out other productive activities and also try to make up better business decisions.

Such business owners should understand that the opportunity cost that can be lost can be utilized in carrying out some basic activities rather than spending all this time to perform activities that are unproductive.

Expert analysis

With such expert knowledge of these service providers, as a business owner, you are assured to have a better and clear picture of the business financial position. This will in future help in minimizing all noncollectable receivables and cost overruns. Make your business come out successful by considering these professionals.

For all Accounting &Auditing related services in UAE contact : Alya Auditors (Chartered Accountants)

Basics of Payroll

Payroll Services in Dubai

Maintaining Payroll

Have you recently started out a business and hiring employees for the first time? Scratching your head and wondering: “What is Payroll?” 

Let’s start off by defining just that. Payroll refers to all the financial records and data pertaining salaries, wages, overtime, bonuses, deductions related to entities, employees, owners or partners paid for services provided during a specific period of time. Such information is generally required for the filing of taxes and submission of regulatory forms. It may seem simple and easy, but Payroll itself contains a lot of sensitive information that needs to be handled systematically and accurately. Every business needs a Payroll system in place, even if there’s only one or two employees.

We talk a lot about the importance of a Payroll Software and how it contributes to efficiency within Human Resource(HR) operations. However for those of you who are just starting out and haven’t had much exposure to how Payroll is done, the actual task of processing your business’ payroll can get increasingly complex and difficult to manage. As a Payroll Software provider we’ve seen what it takes for businesses to achieve an efficient Payroll system, so whether or not you intend to process your business’ Payroll through a Payroll Software, Excel or even on Paper, here are some key steps that you can take to build the best Payroll system for your business.

Summary of Key Steps when handling Payroll

Step 1. Employee Record Keeping

Having a detailed record of each employee is the first thing you want to start with. Aside from keeping compliant to MOM requirements, building a solid employee database is essential for any Payroll system to function. A proper management of employee records can also contribute to you being able to effectively monitor the performance and productivity of your employees.

Key components in Employee Records that you’ll want to include:

  • Basic Information – Refers to personal information such as employee’s full name, identification number, nationality, address, birth date, contact number, employment date etc. This section can also include emergency contacts.
  • Salary Details – This includes various components of an employees’ salary, namely basic pay, bonuses, commission and contributions.
  • Statutory Information – Income Tax Reference number, Banking Info and Immigration Info where applicable. Information here is generally also required for tax reporting purposes.
  • Confidential Agreements/Documents – Employee contracts, resumes, resignation agreements etc. should be kept in your employee records for easy access and referring for checks.

Step 2. Salary Calculations

Now that you’ve got your employee database ready, the next step is putting together the components of employees’ salary. Some key considerations to factor in:

  1. Are employees’ salary calculated by hours or days?
  2. How is no pay leave calculated?
  3. If your employees are entitled to bonus, how is it measured?
  4. How should overtime be calculated?
  5. If employees are late or early for work, how do you calculate allowances and deductions?

It’s always a good idea to classify your employees, whether they are full-time, part-time or contractwith there being different tax requirements and minimum wage regulations you’ll want to adhere to. Additional components that must be factored into employees’ salary:

  • Foreign Worker Levy (FWL) – If your business employs foreign workers, there is a monthly levy requirement for Work Permit and S Pass holders via General Interbank Recurring Order (GIRO).
  • Contribution to Self Help Group Funds – They include SHARE, CDAC, ECF, MBMF and SINDA. If your employees contribute to aforementioned self help group funds, these contributions and donations are to be deducted from employee’s wages together with the employee’s share of CPF contribution as well.

Step 3. Set Periodic Payment Date

Employees cannot go too long without a salary, and you can’t possibly be processing Payroll say, every day. It’ll be a complete nightmare! Take note however, that employees’ salary must be paid within 7 days after the end of the salary period – and non-payment of salary will be considered an offence.

Step 4. Establish Payroll Policy

For your employees to know when to and what to expect on payday, you must establish relevant payroll policies that are clearly communicated to, and understood by all of your employees.This will include:

  • Salary calculations, Pay Periods and Payday – You’ve already established a process for reimbursement of employees’ salaries. The next step is to ensure your employees are aware of pay periods and paydays that are relevant to them. Should they be paid on a monthly basis, they will need to know the start and end dates for the month long pay period, and the actual payday.
  • Time & Attendance Guidelines – Clearly state what your employees need to do in order to achieve a proper time sheet submission. For those of you who record employees’ time & attendance manually and require employees to fill out a time sheet, you may want to convey rounding procedures, time sheet submission deadlines, who is assigned to endorse them and most importantly,  highlight the consequences of falsifying time sheets.
  • Employee Benefits – Break down the benefits offered to employees and how they can be obtained. Employee benefits may include annual leave entitlements for vacation, sick, personal and bereavement, health and life insurance, business expense reimbursements and paycheck advances.

Now that you’ve got it all set up, it’s time to pay your employees. Which brings me to the next point for consideration- Payroll logistics. Depending on your company’s preference, payroll can be delivered via cash, cheque or GIRO.

Step 5. Keep Track of Payroll History

If there is no proper documentation of payroll history, it can be quite difficult to answer to management when an issue pertaining to past payroll data crops up at some point in the future. Common situations where businesses require to dig up past payroll records include difficulties in balancing accounting books within the finance department, and discrepancies in salary payments.

Step 6. Ensure Tax Submissions

Avoid unnecessary penalties of your business’ taxes by constantly keeping yourself updated with the latest regulations and submission dates.

Of course, a Payroll Software or Service Provider can come in very handy when you’re caught up with other business matters, and lack of manpower to manually check the Payroll process from end-to-end. However outsourcing Payroll services and running Payroll through a software does require a considerable investment, so you have to think about your own business needs and decide what works the best for your business. Ultimately, it is recommended to keep it as simple as possible and always make sure your process is constantly reviewed and updated to be in compliance with employment regulations at all times.

Get Professional Help

One cannot hope to continue business for very long without using basic accounting and bookkeeping. If you are starting with your company, it may be possible for you that you do all the accounting and bookkeeping yourself, but as your company shall  grow, the need for proper and professional accounting will gradually increase.

Thus it is advisable that you should hire an excellent team of accountants. It is entirely understandable that a start-up will not have enough funds to hire an accountant and in such a case, they can hire a part-time accountant who would suit the needs of the company and also keep the finances in check.

“ALYA” is one of the reputed chartered accountant firms in Dubai which will understand your business needs and will provide you with financial advice accordingly. At “ALYA”, we strive to help you by providing accounting and bookkeeping services, both traditional in-house accounting and outsourced accounting and also offer solutions for your business. For more information, do contact us today – we’d be happy to help.

How can ALYA Auditors Chartered Accountants help to take the Role of Accounting in business?

The vast expansion of businesses in the UAE has been taking place at a rapid pace and the legal requirement to maintain proper books of accounts make the Role of Accounting in Business more competent. To keep up with this rapid pace of expansion of your businesses in the UAE, it is sometimes difficult to manage the accounting activities of their businesses on their own especially for SMEs. Hence, to take up the role of accounting in business and serving the business in UAE, we provide the below Accounting Services in the UAE.