Question 1

What accounting services do I need for my UAE business?

Accepted Answer

For most UAE businesses, essential accounting services include monthly bookkeeping, financial statement preparation, VAT return filing (if registered), and annual audit support. Free Zone companies require audited financial statements annually, while mainland companies need them if they exceed certain revenue thresholds. Our comprehensive accounting packages cover all compliance requirements including IFRS standards, UAE Commercial Companies Law adherence, and Federal Tax Authority (FTA) regulations. We recommend starting with bookkeeping and financial statements, then adding specialized services like management accounting, payroll processing, or financial advisory as your business grows.

Question 2

How much do accounting services cost in the UAE?

Accepted Answer

Accounting service costs in the UAE vary based on business size, transaction volume, and complexity. Small businesses with 50-100 monthly transactions typically pay AED 1,500-3,000 per month for basic bookkeeping and financial statements. Medium-sized companies (100-500 transactions) can expect AED 3,000-8,000 monthly. Large enterprises with complex operations may require AED 8,000-20,000+ monthly. Our pricing includes bookkeeping, monthly financial reports, management accounts, and ongoing compliance support. Annual services like audit preparation cost AED 5,000-25,000 depending on company size. We offer transparent, fixed-fee packages with no hidden charges. Contact us for a customized quote based on your specific requirements.

Question 3

Do I need to register for VAT and file VAT returns?

Accepted Answer

VAT registration in the UAE is mandatory if your annual revenue exceeds AED 375,000 for taxable supplies. Voluntary registration is available for businesses earning AED 187,500-375,000. Once registered, you must file VAT returns quarterly (for businesses under AED 150M annual revenue) or monthly (for larger businesses). VAT returns are due within 28 days after each tax period end. Our accounting services include comprehensive VAT compliance: registration assistance, transaction categorization (standard-rated, zero-rated, exempt), VAT return preparation and filing, reclaim processing, and FTA audit support. We ensure accurate, timely filings to avoid penalties ranging from AED 1,000-AED 15,000 per violation.

Question 4

What is the difference between bookkeeping and accounting?

Accepted Answer

Bookkeeping is the systematic recording of daily financial transactions including sales, purchases, payments, and receipts. It involves data entry, invoice processing, bank reconciliation, and maintaining the general ledger. Accounting goes beyond bookkeeping to include financial statement preparation, analysis, budgeting, forecasting, tax planning, and strategic financial advisory. Think of bookkeeping as the foundation—capturing raw data—while accounting interprets that data to provide insights for business decisions. Our services include both: professional bookkeepers handle daily transactions, while qualified accountants (CPA, ACCA, CMA) prepare monthly management reports, annual financial statements, conduct variance analysis, and provide strategic recommendations to improve profitability and cash flow.

Question 5

Which accounting software is best for UAE businesses?

Accepted Answer

The best accounting software for UAE businesses depends on your industry, size, and specific needs. QuickBooks Online is popular for small-medium businesses, offering VAT compliance, multi-currency support, and cloud accessibility (AED 75-250/month). Zoho Books provides excellent value for startups with integrated CRM and inventory (AED 50-150/month). Xero suits growing companies needing advanced reporting and automation (AED 100-300/month). Odoo is ideal for enterprises requiring ERP integration with manufacturing, inventory, and HR modules (AED 300-1,500/month). For Free Zone companies, ensure your software supports IFRS reporting. We provide complete accounting system implementation including software selection, chart of accounts setup, data migration from spreadsheets or legacy systems, staff training, and ongoing support to maximize efficiency.

Question 6

How often should I receive financial reports for my UAE company?

Accepted Answer

We recommend monthly financial reporting for optimal business management. Monthly reports should include: Profit & Loss Statement showing revenue, expenses, and net profit; Balance Sheet detailing assets, liabilities, and equity; Cash Flow Statement tracking money in/out; Accounts Receivable and Payable Aging reports; and Bank Reconciliation statements. For fast-growing companies or those seeking investment, we provide weekly cash flow reports and bi-weekly management dashboards. Annual requirements include audited financial statements (mandatory for most Free Zones and larger mainland companies) and comprehensive year-end tax reports. Our accounting services deliver monthly reports within 7-10 business days after month-end, with real-time access to dashboards via your accounting software. Regular reporting helps you make informed decisions, identify cost savings, improve cash flow, and maintain compliance.

Question 7

Do I need an external auditor for my UAE company?

Accepted Answer

External audit requirements in the UAE depend on your company type and jurisdiction. Free Zone companies (DMCC, DIFC, JAFZA, IFZA, etc.) typically require annual audited financial statements regardless of size. Mainland companies registered with DED need external audits if: annual revenue exceeds AED 50 million; the company is a branch of a foreign entity; or shareholders request it. Audits must be conducted by UAE-licensed audit firms registered with the Ministry of Economy. The audit process includes reviewing financial statements, internal controls, and ensuring IFRS compliance. Annual audit costs range from AED 8,000 for small Free Zone companies to AED 50,000+ for large enterprises. Our accounting services include complete audit preparation—organizing records, reconciling accounts, preparing schedules—significantly reducing audit fees and ensuring smooth, efficient audits with minimal business disruption.

Question 8

Can you help with payroll processing and WPS compliance in the UAE?

Accepted Answer

Yes, our payroll accounting services provide comprehensive payroll processing and full WPS (Wage Protection System) compliance. We handle monthly salary calculations including basic salary, allowances, overtime, deductions, and end-of-service gratuity provisions. Our WPS compliance services include: employee registration with Ministry of Human Resources, SIF (Salary Information File) generation and upload, timely salary transfers through WPS-approved banks or exchange houses, and complete audit trail maintenance. We ensure 100% compliance with UAE Labour Law, avoiding penalties for late payments or WPS violations. Additional services include: Emirates ID and visa quota management, annual leave calculation, gratuity computation per UAE law, and integration with time-attendance systems. Payroll costs start from AED 50 per employee per month. We support both monthly and bi-weekly pay cycles, with same-day salary file delivery for your approval.

Question 9

How do you ensure data security and confidentiality?

Accepted Answer

Data security and client confidentiality are our highest priorities. We implement bank-level security measures including: 256-bit SSL encryption for all data transmission; cloud storage on UAE-based servers with SOC 2 Type II certification; role-based access controls limiting data access to assigned team members only; regular data backups with 99.9% uptime guarantee; and two-factor authentication for all system access. Our team signs strict NDAs (Non-Disclosure Agreements) before handling any client data. We comply with UAE data protection regulations and international standards (GDPR for EU clients). Physical security includes restricted office access, locked filing cabinets for paper documents, and secure shredding of sensitive materials. We use industry-leading accounting software (QuickBooks, Zoho, Xero) with built-in security features and never share client information with third parties without written consent. Annual security audits and staff training ensure continuous protection.

Question 10

What happens if I receive a tax audit or FTA inquiry?

Accepted Answer

If you receive an FTA (Federal Tax Authority) audit notification or inquiry, don't panic—we provide full audit support and representation. Our process includes: immediate review of the FTA notice to understand scope and timeline; comprehensive document preparation including transaction records, invoices, VAT returns, and supporting evidence; internal pre-audit review to identify and correct any discrepancies; representation during FTA meetings and correspondence; and negotiation of payment plans if additional tax is assessed. Common FTA audit triggers include: large VAT refund claims, significant changes in business activities, late or inconsistent filings, and random selection. Our proactive accounting approach minimizes audit risk through: accurate monthly reconciliations, proper documentation, timely VAT filings, and periodic internal reviews. If penalties are assessed, we help prepare appeals and supporting documentation. FTA penalties range from AED 1,000 for late filing to 300% of tax due for tax evasion. Our audit support services ensure you respond correctly, minimize penalties, and maintain good standing with authorities.

Professional Accounting & Bookkeeping Services in UAE

Complete Accounting Solutions for UAE Businesses

Our Comprehensive Accounting Services

Why Choose Incorporate.ae for Accounting Services?

Our Simple Onboarding Process

Initial Consultation & Assessment

Setup & Integration

Ongoing Support & Reporting

Request a Free Consultation

Frequently Asked Questions

Still have questions?

Ready to Get Your Finances in Order?

Professional Accounting & Bookkeeping Services in UAE

Complete Accounting Solutions for UAE Businesses

Our Comprehensive Accounting Services

Why Choose Incorporate.ae for Accounting Services?

Our Simple Onboarding Process

Initial Consultation & Assessment

Setup & Integration

Ongoing Support & Reporting

Request a Free Consultation

Frequently Asked Questions

1.What accounting services do I need for my UAE business?

2.How much do accounting services cost in the UAE?

3.Do I need to register for VAT and file VAT returns?

4.What is the difference between bookkeeping and accounting?

5.Which accounting software is best for UAE businesses?

6.How often should I receive financial reports for my UAE company?

7.Do I need an external auditor for my UAE company?

8.Can you help with payroll processing and WPS compliance in the UAE?

9.How do you ensure data security and confidentiality?

10.What happens if I receive a tax audit or FTA inquiry?

Still have questions?

Ready to Get Your Finances in Order?