ACCA Approved Accounting Firm In Dubai

ACCA Approved Accounting Firm In Dubai

Professional accountants play a vital role in prioritizing social responsibility in business planning. They’re in a unique position to drive climate action in the organizations they manage and work for, as well as achieve genuine, lasting change.

ACCA

ACCA (Association of Chartered Certified Accountants)  is a globally recognized accounting qualification which build professionals in accounts and finance fields. These specialized professionals have a broader knowledge in Accounting, Tax Consulting, Auditing, Business Valuation, Treasury Management, and many other sectors. Which in turn has created greater demand for ACCA specialists.  

Benefits of ACCA

-When the firm in Dubai is registered by ACCA it enables the firm to carry on probate activities in the name of the firm. 

-ACCA Accountants are Globally Recognized, and they are flexible and contribute greatly towards the growth of companies from the knowledge they possess. 

-ACCA specialized Professionals are aware of the ACCA rulebook which consists of the laws, regulations, and Code of Ethics. 

-Members of the ACCA are strategic thinkers with high ethical integrity, good financial knowledge, and strong business judgment.

-ACCA professionals possess valuable skills such as organizational and strategic skills and along with that they possess technical and management skills which increase the effectiveness since they have mastered and experienced the cost-effective business techniques which is a great necessity for any growing company.

ACCA Professionals in KLOUDAC

Since Dubai is now considered as the financial capital of the middle east, many businesses are established and maintained in Dubai UAE. KLOUDAC is recognized as an ACCA approved accounting firm in Dubai, UAE. Where KLOUDAC received the Trainee Development Gold Certification from the ACCA body. 

 With the ACCA Qualified Professionals, it gives more value to the accounting firm which in return greatly contribute towards the growth of the companies associated with the firm. 

Our ACCA Specialists can evaluate and propose great Business solutions for your organizations. KLOUDAC professionals are specialized in Accounting and Book-keeping and all other accounting and finance related work. 

And many of Our Specialists are ACCA Qualified accountants who possess technical and management skills and as well as organizational and strategic management skills in the field of accounting. With the knowledge and experience of our ACCA specialists, we guarantee to help you with all your accounting and financial work which will result a growth of your business. 

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.  

Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more. 

Blog cover 02 Mar2021 v01

Anti money laundering Act UAE , DDL 31st March 2021

Deadline for Registration

You are required to register on goAML system before 31st of March 2021.

Why is it necessary to register on goAML?

To file a Suspicious Transactions Document, it is compulsory to first register on the goAML system.

Failure to Register

To file a Suspicious Transactions Document, it is compulsory to first register on the goAML system. Failure to do so would result in a failure to establish procedures for detecting fraudulent transactions.

Furthermore, under UAE policy, failure to disclose evidence of money laundering or terrorism financing is a criminal offense. Resulting administrative penalties for each offense which includes, but are not limited to, a financial penalty of AED 50,000 and a limit of AED 5,000,000 for each violation.

Instruction from the MOE

MOE (Ministry Of Economy) has provided instructions for the goAML pre-registration and registration processes.

The 04 Main Categories Which the Law is Valid For:

There are 04 main categories that the law of UAE is applicable for Businesses. They are: brokers and real estate agents, dealers of precious metals and gemstones, auditors, and corporate service providers.

How Kloudac Helps You?

Kloudac basically helps you with everything. It assists you with the investigation of fraud which prevents financial loss, compliance and regulatory violations and even criminal activities.

Your company and your business would be secure and protected from regulatory fines levied by UAE policies by avoiding fraud transaction mechanisms.

Accounting and Bookkeeping

Importance of Accounting and Bookkeeping Dubai

“SMEs have always been the backbone of the UAE economy,” says Mohsin Aikal, head of liabilities, payments & bancassurance at Noor Bank. The main factor which determines Small and medium enterprises (SMEs) are the staff headcount and whether they are either turnover or balance sheet total.

According to a strategy provided by SMEs in Dubai, it states that SMEs contribute approximately 50 percent of Dubai’s gross domestic product while it accounts for 52 per cent of the total workforce in the UAE. Thus, many audit firms in Dubai successfully address audit issues, provide quality financial reporting, and stand to achieve international credibility.

Why you need a VAT consultancy in UAE?

The UAE Minister of State for Monetary Affairs introduced Valued Added Tax (VAT) in Dubai from January 1,  2018 at a standard rate of 5%.

A traditionally TAX-FREE territory carries with it a plethora of benefits as well as a slew of difficulties. The Ministry of Finance mandates a 5% VAT on a variety of transactions for varies goods and services, as well as on the employment of public facilities and utilities used.

Dubai, as a part of UAE, is going to be involved in establishing a legal mechanism for the tax, in collaboration with other Gulf Cooperation Council (GCC) countries, to ensure that the levy supports and diversifies the local economy as expected. This is where your company requires a Dubai VAT consultant.   With the help of a VAT specialist in Dubai, make sure the company is prepared for the legislation’s economic effect.

What are the 5 affordable accounting Software in UAE?

  1. Xero

Xero is a leading provider of accounting and deployment services. It is a cloud-based accounting platform that enables companies to make real-time adjustments, monitor, and updates to their accounts. The Xero app is synchronized so that it is constantly updated, giving accountants immediate access to a company’s financial statements. Xero is a completely free software tool.

  • Wave

Wave is a software used to manage income and expenses. It keeps track of everything and integrate with other Wave items like accounting, payments, and invoicing. It is a software which is automated into one perfect bundle. It also provides a 30-day free trial.

Quickbook is an accounting software build for small businesses. It tracks expenses, customize invoices, keep track and manage sales tax, track inventory, run reports and many more features are available. It also provides a 30-day free trial.

Tally is a powerful business management software build for Small and medium enterprises (SMEs). Through Tally your business data is safe and secure. Report maintenance, data entry and recording are some features of Tally software. Tally is a 30-day free trial.

Zoho Book is an online accounting software built for businesses. It manages finances, automates enterprise workflows, and facilitates cross-departmental coordination. Zoho Book allows collaborations where your colleagues can access your account, view reports, or manage the account. It is an integrated platform which has built numerous apps to help customers manage their business. Zoho is a 14-day free trial accounting software.

Why choose Kloudac?

Kloudac is a 15-year experienced accounting firm in UAE. It provides wide range of accounting services in Dubai for Small and medium enterprises in order to ensure your company meets an accounting software to assist you manage your company with VAT consultancy, Sales Invoice Processing, Expense Bills Processing, Monthly Finance Meetings, Audit assurance, Payroll Processing, Business Consultancy and many more.

Kloudac accounting firms in Dubai provide accounting services not only for large firms but also for small businesses in Dubai which release you from sparing your valuable time on account and finance handling. Therefore, you have the ability to focus on your main business without having to be concerned on maintaining accounting records and bookkeeping. Furthermore, poorly structured and maintained or outdated documents will adversely impact the success of the company, which is why Kloudac provide accounting services to busy business owners with all the powerful facilities.

Hiring The Accounting Companies In Dubai

Everyone would like to know that their money is safe and that their finances are organized properly. Hiring Accounting companies in Dubai can assist you make financial decision visibly and independently. An accountant can assist you invest your money into firm stocks and investments with regular returns to make it less of a danger for customers. An accountant can assist you decide which business ventures will be a great option for their customers to follow and might even assist their career route. They can assist you to plan your finances for the future and save more money in the procedure. Let’s talk about in more detail the major benefits of hiring an accounting firm.

Also Read :- Accounting Services In Dubai

You Need a Professional to Weigh in On Financial Decisions

Often people who are not in the fiscal or accounting businesses as they don’t have the inside knowledge to put together an accurately sound financial choice. Accounting Companies In Dubai – It can really assist you to have a professional as a sounding board to make a decision if certain buying or careers moves are accurate for you. This goal approach can be a really great assistance when the emotional side of our mind acquires business decisions. Your accountant’s only objective is to defend their client’s wealth, and develop that wealth.

Financial and Tax Knowledge

Bookkeeping services Dubai have proper education and progressing professional development opportunities to keep them updated with existing tax laws. The best exercises when it comes to defending and augmenting their client’s assets. This is important because tax laws are continuously altering and not everyone understands. The most excellent way to manage their finances to maintain what they make, and then influence it to make more and more. High income people require the professional knowledge of a CPA to get and keep their finances organized and get it working in their top priority.

For A Proper Payroll Process Hire Chartered Accountants In Dubai

When you have a large business venture, you will meet lots of serious financial issues. You need to work with a professional to find the finest way out of that tight spot. Most of the businesses opt to work with Chartered accountants in Dubai because of several reasons. These experts are well-experienced and strongly trained to manage all tax and finance related issues.

Yes, hiring Auditing companies in Dubai will be extra outgoings, but the money they assist you to save will definitely overshadow those costs. Here are some important reasons why it makes sense to prefer to work with chartered accountants in Dubai.

Appropriate Handling Of Finances And Taxes

Chartered accountants in Dubai are extremely aware with the entire legal characteristics of the law and are proficient of dealing with the finance and tax matters compliantly. They have sought-after knowledge of the necessary paperwork and formalities and will help to get rid of hassle of tax authorities.

If you wish smooth dealings and would like to avoid legal snags then hiring a chartered accountant for your financial and tax matters is the always the right option for you.

Supervising Payroll

Chartered accountants are well-experienced in financial and legal processes, and which is why they can make sure the suggestion of every facet of the business by the law. They can help you in the payroll matters or oversee your employee handling payroll to shun any issues in the finances. They counteract to check the tax or any other expenses that are to be suspended from the workforce` credits or from the company`s sense of balance.

Tax Compliance Services

If you are apprehensive about the reinvestment of your money and would like to expand your business, then the chartered accountant is the right individual to hire for support. They are competent and have authority over legal matters that will assist you in increasing your profit margin by lowering the tax performance in the long-run and that too within the legal limitations.

Track All Your Accountant Data

When you set-up your company, the final thing you would like to do is invest a redundant amount of money. Many freelancers and start-up owners also look upon Accounting firms in Dubai as a pricey luxury because of money restrictions, believes instead that they have the knowledge to fill out and file the essential paperwork themselves.

The reliable chartered accountants in Dubai offer plenty more than filling out and filing forms; they can give professional guidance and information, assist you to develop your business, prevent you from running IRS, and save you thousands of bucks in taxes.

Let’s know benefits of Accounting firms in Dubai :

Assists In Making Well-Versed Decisions

A business owner is skilful at performing various tasks immediately–working as hiring executive and one minute as marketing manager. Several days feel like a steady flow of decisions to be done. And one thing is obvious when you look reverse on a day like this: the more information you had at the same time, the better decisions you take. Hiring an accountant who has a grab on the financial strength of your business will mean having access to worth information when you want it.

Also Read :- Chartered Accountants In Dubai

Your accounting firms in Dubai will assist you to track your expenses and assist you keep your personal and business expenses separate. The IRS does not look gently on business owners who pair the two together. Doing so might lead to an audit, and the burden of proof is on you to show that the uncertain expenses are certainly connected to business.

Manages Cash Flow

Cash flow can make or crack any business. Behind every strong business is someone who keeps their active the cash-flow helm. On the other hand, a timing error when it comes to cash flow has brought businesses big and small to their knees. An accountant understands properly what reports need analysing, when, and what the red flags are in this part.

Advantages Of Hiring Auditors In Dubai

Proper utilization of time

Auditors in Dubai assist a business association in paying attention on more significant core activities which are directly associated to the profits gaining process.

Cost-effectiveness

By hiring accounting services in Dubai, you can save more money that would have to be invested on payroll, training, and infrastructure.

Benefit from the expertise of the outsourcing accounting firm

The outsourcing chartered accountants in Dubai based in Dubai is extremely skillful in carrying out their tasks. They have access to the newest accounting software and stay updates with the latest developments in the accounting area in different countries.

More accuracy

Accounting is a job which can be carried out more professionally at a quiet place as it involves lots of concentration. Even a single error can spoil the entire process.

Easy to handle

By hiring the accounting tasks to a company based in India, you need to deal with only the contractual obligations.

Developing businesses always gets to some extent where they have expert financial advice but are not capable to pay for a full-time CFO.

Cost-effectiveness –

By Auditors in Dubai, you can save more and more money that would have to be used on payroll, training, and infrastructure.

Furthermore, remuneration charged by the hiring companies based in Dubai is much less than the service rates in the developed countries. In addition, all this money can be spent in core functions for optimizing the business prospective of the organization.

More accuracy –

Accounting is a job that can be done more professionally at a private place as it comprises lots of focuses. Even a single error can mess up the entire procedure.

Top Audit Firm Dubai UAE

Following are the advantages of auditing companies in Dubai:

High level of accuracy

The vat consultancy services in uae have professionals and know how to deal with accounting data precisely. When it comes to dealing with records accurately, accounting services can be advantageous for you.

Avoid tax penalties

Wrong accounting records can inflict penalties on you throughout tax season. Accounting service provider provides you access to the newest software, decreasing the chance of mistakes.

Save time

You don’t need to spend your valuable time on accounting. Accounting service will assist you to avoid from preventable pressure and leave you with enough time to carry out your core business jobs.

Increase productivity

Auditing Companies In Dubai allow you to pay attention on revenue-generating business activities, increasing your overall productivity. In addition, you need to scrutinize the real financial health of your business.

Scam Prevention

Accounting services specialists help to keep all records of your payments, profits, expenses and financial development on track with their professional management. As you will find a thorough record of all the financial records, it assists you in scam prevention and future decision making.

Accuracy level – We all understand that accounting services. Thus, it is vital that the precision level must be 99.99%. That is where accounting services show to be helpful. It deals with your accounts and keeps your business on the accurate track.

Accounts forecasting – With fully analysis, accounting services provides a complete and clear picture about errors, where your investments will be profitable & loss situations are there, and many more. In addition, you meet about which financial step you should eradicate.

Perfect time allocation – Because the outsourcing team processes your work, you can gain access to essential financial information, when you want. Your job will be done in a given time without any mistake or delay. In this way, you can concentrate on your core tasks.

Make Bookkeeping Process Hassle Free in Dubai

Accounting plays a crucial role to run your business productively. But as a business owner, you might not have enough time to deal with your accounting work as you have to manage other things as well or you perhaps not a pro in accounting. For the sake of your business, hiring a professional accounting service accounting firms in Dubai is the right option.

Following are the advantages of accounting services:

High level of accuracy

They are professionals Accounting Firms In Dubai and know how to deal with accounting data precisely. When it comes to dealing with records accurately, accounting services can be advantageous for you.

Avoid tax penalties

Wrong accounting records can entail penalties on you throughout tax season. Accounting service provider provides you access to the newest software, decreasing the possibility of mistakes.

Save money

No need added benefits such as life insurance, leaves, holidays and pension plans, etc. to your provider as you offer to an in-house staffs. You will only pay to the accounting services you are obtaining at a specific time. They will give you the correct results that can be up to 99.95%. However, hiring accounting process is comparably inexpensive.

Also Read :- Chartered Accountants In Dubai

Save time

You don’t need to use your precious time on accounting. Accounting service providers will assist you to avoid needless stress and leave you with more time to perform your core business tasks.

Enhance productivity

Bookkeeping services Dubai allows you to pay attention to revenue-generating business activities, increasing your overall output. Furthermore, you can analyze the authentic financial health of your business and proceed accordingly.

Fraud Prevention

Accounting services experts will keep all your business payments, profits, outlays and financial development on the right track with their proficient management. As you will have a thorough evidence of all the financial records, it assists you in scam prevention and future administrative.

Hire An Eminent Accounting & Bookkeeping Services In Dubai

Accounting & Bookkeeping Services In Dubai – Do you feel like your market players are increasing faster than you are in the fields of information technology support, skills, education, knowledge of resources or complete economic circumstances? They might be balanced of seizing your customers!

Profit is certainly one of the major aspects of business development and growth, but it is not the only part. Development changes your life and one and all else’s who are in one way or another related with the business and it provides your business a superior status and brand image in the market.

Here are the top 10 benefits of hiring accounting and Bookkeeping services Dubai

1. Develop and sustain your firm faster and stronger by outsourcing CPA and accounting services.

One of the great reasons to hire accounting & bookkeeping services Dubai is that you can have enough time in your hands to augment your competence, develop your company and functions, and make the most of your return on investment (ROI) on the core competencies of your business. You can make use of this added time to try to make more clients, by augmenting your marketing efforts and customer services, as you won’t have to lose sleep about hiring, training, managing, reviewing, firing, and etc. Hiring CPA or accounting services is most expected to diminish your outlays by 30 to 50%.

Also Read :- Audit Firms In Dubai

2. You don’t have to pay horrible overheads, you can just pay for the genuine work you need to be completed.

When you are hiring accounting and bookkeeping services, you are of course registering to pay only for the actual work you need to get completed. In your business functions, it means that you no longer have to pay for the operating cost, vacation, sick leaves, payroll taxes, training and other outlays of the accounting section. Therefore, you can considerably augment your profit margin and also allow yourself to get more work done anytime.