Accounting refers to recording of financial transactions. It is one of the most important functions in any running business. It serves as the base for financial analysis, budgeting and strategizing. Accounting in UAE is a requirement by corporate law as well as VAT law. Ever since VAT has come into effect in the UAE from 2018, accounting has assumed an ever more crucial role in business reporting. Efficient and accurate accounting is an accepted best practice across industries and geographies. Management reports on financial transactions are the primary source of information which businesses and organisations use to run their operations and plan for the future. Many small and medium-sized businesses, however, do not have the necessary in-house resources or capabilities to produce this invaluable source of management information. We can provide a fully outsourced service or we can work with and compliment your in-house finance team.

What are the advantages of accounting?

The reasons why accounting is essential for any business are:

1. Decision Making

Accounting makes way for reporting, which serves as the platform for financial decision making for a company. Company fund allocation and budgeting can become smoother if the accounting function of a business is in place.

2. Legal Requirement

Proper accounting is required by Company law and VAT law in UAE. Not following it can have legal implications for a company.

3. Sustainability

If a business has its accounting records maintained over time, it can help the business in analysing its past decisions and chart a future course of action. This proves beneficial for the long term sustainability of a company.

Our Accounting Services in Dubai, UAE

At JAXA, we streamline your accounting and administrative systems in a professional manner. We provide part-time and periodic accounting and accounting supervision services by qualified and professional accountants in Dubai and rest of UAE. We also offer a full range of accounting services to support your own in-house accountant, bookkeeper or computer accounting system. We can tailor our accounting and book-keeping services to your individual requirements, but in essence they typically include: Maintaining your accounting records in a reliable and secure database Preparation of management reports like income statement, balance sheet, etc. Maintaining accurate and comprehensive nominal, sales and purchase ledgers Reconciling your bank position Generating reports like aged debtor, creditor listings, inventory reports, etc. Accounting advisory and supervision services Outsourcing Accounting Services in Dubai, UAE In Dubai and the rest of UAE, it is common for a small and medium-sized enterprise (SME) to outsource its accounting and bookkeeping function to accounting and audit firms in Dubai. If you are setting up your business in UAE and are new to the place, it might serve you well to outsource your accounting service to a local accounting firm in Dubai, that is well versed in the regional laws and business practices. A few advantages of outsourcing your accounting services are:

  • It saves money as the funds spent on operational expenses of in-house accounting can be avoided and instead diverted to one’s core business tasks.
  • Local accounting and audit firms in Dubai tend to have a better idea of accounting services in the region because of their know-how and expertise.
  • You get dedicated experts and professionals to handle your accounting for you, and to guide you through any changes or amendments that may be called for by law.

Why JAXA?

JAXA Chartered Accountants is an ISO 9001-2015 certified firm of Chartered Accountants established in 2007 with its head office in Dubai and branches in Abu Dhabi, Jebel Ali Free Zone, Sharjah, SAIF Zone and Ras Al Khaimah Free Zone. Our services include part time accounting and supervision services. More than 60 highly qualified and experienced professionals are available in our office to provide the greatest level of professionalism in all areas of accounting. We serve more than 1000 clients across the UAE. At JAXA, we can streamline your accounting and administrative systems in a professional manner. We provide part-time and periodic accounting and accounting supervision services by qualified and professional accountants. We also offer a full range of accounting services to support your own in-house accountant, bookkeeper or computer accounting system. If you do not have these resources, we can outsource accounting professionals for you. This helps you avoid bulking up your permanent payroll.

For accounting services in the UAE, do contact us – we’d be glad to assist!