Accounting and Bookkeeping Services in Dubai, UAE
Milestone Project Management Services is a premier management and financial consultancy that offers accounting and bookkeeping services in the UAE to businesses across the UAE and the wider GCC region. Maintaining accounts of every financial transaction according to the standards is mandatory for commercial business establishments operating in the United Arab Emirates (UAE). We follow the International Financial Reporting Standards (IFRS) for all our accounting and bookkeeping services in compliance with the rules and regulations of the UAE.
We understand the requirements of your business and formulate a solution that meets your needs for accounting & bookkeeping services in Dubai, UAE. Our comprehensive solutions cover accountancy-related areas and are customized to help your business in all financial matters.
At Milestone, we offer trusted and reliable accounting & bookkeeping services in the UAE and ensure that your financial system remains smooth and efficient. Our services include preparing financial statements – balance sheets, income statements, and cash flow statements, payroll services, VAT consultancy, internal auditing, and more. Additionally, we provide a gamut of other services – end-to-end consultancy for business setup in UAE free zones, mainland, and offshore, LLC company formation, and taxation services.
Why Invest in Accounting & Bookkeeping Services in Dubai, UAE?
First and foremost, investing in professional accounting and bookkeeping services in Dubai, UAE, helps you keep the finances of your business organized. It offers an effective way to analyze the current financial situation of your business and helps you manage business transactions and cash flows efficiently. Due to the rise of complexities in the business landscape, managing and monitoring finances are best left to the experts.
Furthermore, hiring accounting and bookkeeping consultants helps you to focus on the core values of your business. The less time you spend managing your financial obligations, the more time you have to concentrate on business development. Financial experts can point out the buried facts in your records and help increase your profits and generate revenue. As a trusted professional accounting & bookkeeping company in Dubai, UAE, we have a team of certified experts to help you record and maintain financial transactions and accounts of your organization.
Benefits of Accounting and Bookkeeping Services in Dubai, UAE
Having an in-house accounts department can be an overhead for your business. You will be spending on hiring expenses, salaries, travel and visa costs, benefits, and other mandatory stipulations, not to mention delayed work output due to vacation days. Outsourcing accounting & bookkeeping services in Dubai, UAE, is a cost-effective and flexible alternative that benefits businesses.
Cost Advantage: Save on associated expenses such as salary, travel costs, Emirates ID, labor contract fee, gratuity provisions, medical insurance, overtime benefits, etc.
Expert Knowledge: Accounting and bookkeeping firms work for varied industries and have more expertise and domain knowledge.
Flexibility & Scalability :Businesses can negotiate freely on the terms according to the scale of the work.
Higher Accuracy: Businesses can benefit from a low risk of fraudulent transactions and accurate financial solutions.
The Right Time to Outsource Accounting & Bookkeeping Services in UAE
Certain business circumstances may warrant you to look at outsourcing your accounting and bookkeeping services in Dubai, UAE. They can be:
- Inadequate knowledge: Your in-house accounting team may fall short of the requisite knowledge required to maintain your books and may not keep up-to-date on changes in laws and regulations.
- Poor Financial Health: Your profits are not in accordance with business growth, and you need an expert to check for buried financial facts in your records.
- Inaccurate Financial Records: You have identified inconsistencies in your accounts and require transparent and high-quality accounting & bookkeeping services in Dubai, UAE.
- Excessive Time Spend: Your daily financial record activities are not leaving you with time to concentrate on your core business.
- Penalties Imposed: If your business has received non-compliance notices and subsequent penalties for not conforming to taxation and accounting standards, you might have to consider outsourcing.
- Fundraising: You may require professional and accurate financial reports for banks, investors, and other institutions when raising additional funds.
Why Choose MPMS for Accounting and Bookkeeping Services in Dubai, UAE?
Milestone is considered the best financial services company that offers reliable accounting & bookkeeping services in Dubai, UAE. We have a team of certified chartered accountants and bookkeepers who understand your business needs and offer effective solutions to help you streamline your financial process.
Dubai and the UAE has witnessed rapid business growth, with companies from across the world setting up offices in the region. UAE VAT law and the UAE commercial company law 2015 mandate maintenance of financial transactions for no less than five years for business establishments in Dubai and the UAE, and strict compliance is expected.
Being the FTA-certified accounting and bookkeeping firm in Dubai, Milestone aims to offer excellent support in maintaining the financial process of all businesses. Our years of experience and in-depth knowledge of the financial system make us the best choice for recording and managing accounts for your company.
We believe that the financial system is the backbone of a company. Our team of highly-skilled accountants works on the latest technologies and practices to provide you with the most effective accounting and bookkeeping solution for your business.
- Professional Team
- Quick Turnaround
- Competitive Rates
- Guaranteed Savings
Documents Required for Accounting and Bookkeeping
Before stepping into the accounting and bookkeeping process, ensure that you have the complete set of required documents as follows:
- Company Incorporation Documents
- Registration Certificates
- Bank Statement
- Expense Bills
- Purchase-Sales Invoices
- Payroll Reports
- Cash Invoices
- Bank Statements, etc.
Our Accounting & Bookkeeping Services in Dubai, UAE
As a renowned accounting and bookkeeping consultancy in Dubai, we support a wide portfolio of industries in streamlining their financial processes. Our expert team of accountants, compliance specialists, and financial consultants amalgamates their experience and technical skills to provide efficient bookkeeping and accounting services across Dubai, UAE. At MPMS, we offer a complete range of solutions, including auditing, accounting, and bookkeeping services in the UAE, to meet all your business needs.
- Sales Invoices
- Income Statement
- Balance Sheet
- Profit & Loss Statement
- Reconciliation of Bank Statement
- Receivables & Payables Records
- Supplier Order Records Management
- Inventory Management
- Payroll Services
- General Ledger
- Internal Auditing
- Fixed Asset Management
- Quarterly & Yearly Reporting
- Journal Entry
- Trial Balance
- Financial Statements Preparation
- Tax Returns
- Accounts Receivables
- Assets & Equipment Ledgers
- Compilations Services
Frequently Asked Question (FAQs)
What is bookkeeping?
It is a process of recording and managing all the financial transactions for your company on a daily basis. An essential part of the financial system, accounting and bookkeeping involves preparing and maintaining a record for all operations, transactions, and other finances of a business.
What are the types of bookkeeping?
There are two different types of bookkeeping – single entry and double entry. You can choose any of them depending your business.
Is accounting and bookkeeping important?
Yes, accounting and bookkeeping is very important for every business. Both can help you in measuring the performance of your company and help you in making the right decisions on investments, planning expenses, and controlling cash flow. MPMS offers professional accounting and bookkeeping services to help businesses grow.
What exactly does a bookkeeper do?
A bookkeeper is a person who is responsible for recording and maintaining the financial transactions of your business. A bookkeeper is also known as a bookkeeping clerk who manages the general ledger of a company.
What are the advantages of accounting and bookkeeping?
There are several benefits of accounting and bookkeeping including detailed reporting, better tax prediction, faster financial analysis, quick response time, and more. At MPMS, we understand your corporate goals and provide exceptional accounting and bookkeeping solutions to help you manage the finances of your organization.
