Accounting Outsourcing Services

Because of its diverse nature and government leniency, the UAE has become a business hub for investors over the last several years. The requirement of keeping proper books of account has become a legal requirement for every company in the UAE as the business has grown.

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Accounting is the process of measuring, processing, and recording a company's financial data. Accounting is rapidly evolving to meet the diverse needs of businesses. Every business relies on it. Whether you own a new or established business, if you want to outsource accounting services in Dubai, you should look for an experienced accounting firm that offers exceptional services at a reasonable price.

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When it comes to accounting outsourcing in Dubai, CAPELLA is the ultimate word. CAPELLA offers Accounting Outsourcing Services in Dubai to the business world with exact prediction and conviction.

The proper accounting and documentation safeguard the interest of every business and legal threat.

The followings are some of the different types of accounting a business should manage according to their nature:

 

a. Financial accounting :

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It is the process of preparing a financial statement for public consumption. It demonstrates an organization's past performance and current status, which provides credibility to customers and suppliers.

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b. Management accounting or MIS Reporting: 

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 In this case, the information is used internally to enable effective control within the organization and the achievement of the company's strategic goals. It assists management in making sound decisions.

 

c. Tax Accounting: 

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This accounting is governed by a state's tax laws in order to estimate a company's tax liability and avoid any fines or penalties for incorrect tax filing. The proper filing of input and output taxes will provide transparency with regard to FTA requirements.

 

d. Project Accounting :

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This system is used especially by the construction firms to track the financial progress of a project through the frequent financial report and will help to analyze the profitability of the project. Budgeting is the key tool used in this reporting.

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Why Outsourced Accounting Service?

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Outsourced Accounting is a service that provides a complete accounting department experience for a business, whether it is established or a small and medium-sized enterprise (SME). The accounting department is in charge of day-to-day transaction coding, accounts receivable, accounts payable, payroll, financial reporting management, and a variety of other services as needed by the company. Outsourcing accounting services in Dubai helps to attain high levels of accuracy in financial accounting and reporting, identify loopholes and frauds, reconcile account statements, save processing time, professional assistance, avoid tax penalties, and maintain up-to-date accounting status, among other benefits.

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Accounting Outsourcing with Capella

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The UAE Commercial Company Law 2015 and the UAE VAT Law require a company to keep proper books of account for at least five years. Accounting activities within a well-established company or a SMEs may be difficult to complete when competing with others or complying with the laws of the land.

To keep up with the country's growing economy, comply with legal requirements, and compete with other businesses, it can be difficult for a company to manage the accounting activities of their businesses within the company, especially for SMEs. As a result, many businesses now consider accounting outsourcing services in Dubai to be the best option . and CAPELLA is at the top of the list of accounting outsourcing companies in Dubai, with expertise and reducing advanced software, highly qualified and result-oriented reporting, and a competitive process.

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Accounting Outsourcing Procedures by CAPELLA

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CAPELLA follows both Online Accounting Services and Onsite Accounting Services:

 

Online procedure

• Collect necessary documents and information from the client

• Proceed with accounting

• Prepare MIS Reports

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Onsite procedure

• Assessment of initial work procedure

• Assemble data and recap current financial solidity and position

• Creation of various records like vouchers, invoices, bills, bank statement, etc.

• Data recording

• Generation of financial statements, financial analyses report, etc.

• Meeting with administration

• Indorse strategies and actions 

• Implementation of accounting procedure as per IFRS

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Benefits of Outsourcing your Accounting Services

• Improves efficiency, 

• Streamline and productivity 

• Cost-effective

• Advanced technology

• Concentration on core activities

• No additional requirement and expense to hire accountants 

• Maintains Confidentiality 

• Professional service at lower cost

•  Eradicate Training cost and Training difficulty of new accountants 

• Advantage of additional services

• On-call availability of experts

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Features of CAPELLA Accounting Outsourcing Services: 

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Outsourcing your business accounting services in UAE to CAPELLA not only helps you save cost and time but will also support you to eliminate your accounting load to a great extent. Thus, you can focus more on your core business activities. The major features of CAPELLA accounting outsourcing services in Dubai are listed below:

• Consistent Accounting Service – CAPELLA files transactions on a timely basis

• Systematic Account Supervision Service – CAPELLA uses the latest technology as per the needs for a systematic arrangement of the accounts

• Proper submission of Financial Report on time to time as per the requirements of the management

• Bringing up-to-date of Backlog Accounts – CAPELLA manages the backlog accounts effectively and up to date, and ensures that our clients’ demands are fulfilled. 

• Accounts Reconciliation Service - in order to rein the success of your business, CAPELLA assures accuracy and reconcile the accounts on a monthly basis

• Corresponding - CAPELLA corresponds or compares the revenues and expenses sustained in a fiscal period to avoid erroneous income statement

• Confidentiality in Financial Data

• Accuracy in MIS Report

• Analytical and CFO Review with management on the Monthly Financial Report

• Result oriented and decision-making approach in preparing the MIS Report.