Bookkeeping Services in the UAE

Bookkeeping is the process of keeping a business’s financial information up to date. It covers activities such as entering transactions, matching bank activity, maintaining ledgers and tracking amounts owed to and by the business.

A bookkeeper keeps day-to-day financial information organised. This can include recording income and expenses, checking bank transactions, maintaining customer and supplier balances, updating ledgers and preparing information for financial reporting.

Businesses may have accounting and record-keeping responsibilities under UAE commercial and tax legislation. The records required can vary according to the nature of the business and the applicable regulations.

There is no single schedule that suits every business. Monthly bookkeeping is suitable for many companies, while businesses with frequent transactions may need their records processed and reviewed more often.

The records required depend on the business and its obligations. They may include invoices, receipts, sales and purchase records, payment information, expense records, payroll information, asset details, inventory records and relevant supporting documents.

Well-maintained books provide the financial information needed for preparing financial statements and assessing a company’s Corporate Tax position. Accurate accounting records can also make it easier to identify and substantiate the adjustments required when determining taxable income.

Proper bookkeeping helps businesses track taxable sales, purchases and VAT amounts throughout the accounting period. It also keeps the supporting information needed when preparing VAT returns and responding to queries or reviews.

The required retention period depends on the type of record and the legislation that applies. For Corporate Tax purposes, relevant records and documents generally need to be retained for seven years after the end of the relevant Tax Period. VAT records generally have a five-year minimum retention period, subject to specific rules and exceptions.

Bookkeeping deals mainly with maintaining the underlying financial records of a business. Accounting goes further by using that information for activities such as financial reporting, interpretation, tax work and business analysis.

Not necessarily. Bookkeeping is one part of the wider accounting function. An accounting service may also include financial statements, management reporting, tax support, budgeting, analysis and other services depending on the provider’s scope.

Yes. A business can assign its bookkeeping function to an external provider instead of managing all financial records internally. This can be useful for companies that want ongoing bookkeeping support without building a larger in-house finance team.

Yes. Establishing a proper bookkeeping system early can help a startup keep business and financial information organised as it grows. It also creates a better foundation for monitoring expenses, revenue, cash flow and future reporting requirements.

Yes. Backlog bookkeeping can be used when financial records have not been maintained consistently. The work may involve reviewing available documents, entering outstanding transactions, reconciling accounts and identifying information that still needs clarification.

The reports available depend on the accounting system and service scope. Common outputs include Profit and Loss statements, Balance Sheets, Trial Balances, receivables and payables reports, cash flow information and selected management reports.

Pricing depends on factors such as transaction volume, number of bank and accounting accounts, business complexity, reporting frequency, VAT requirements, inventory, accounting software and the condition of existing records. Businesses requiring historical clean-up may also have a separate catch-up bookkeeping scope.

Yes. Bookkeeping can be arranged for Free Zone businesses based on their activities, accounting structure, transaction levels and reporting needs. A Free Zone company’s bookkeeping and tax requirements should be assessed according to its individual circumstances rather than its Free Zone status alone.