Sujeewa Appuhamy

Sujeewa Appuhamy

Managing Partner

2019 - December

How cloud computing can help SMEs in UAE?

Cloud technology is continuing to increase its popularity among SME’s in UA.E. Given the benefits the technology can bring to businesses which include low upfront cost, increased efficiency, anytime anywhere access, improved cash flow, and reduced risk cloud technology is soon to be a must-have technology for SME’s.

SMEs account for over 90 percent of private enterprises in UAE and contribute to nearly 47 percent of Dubai’s GDP and 52 percent of its workforce. This means that having access to cutting-edge knowledge, technology, and funding are key for this sector.Read More

There was time that business have their inhouse IT team to take care related activities. Today, no one will have even in-house server to store data of the business as it is costly and ineffective. It is vital in business to be more competitive in the market. Most importantly, customers expect more and traditional way of doing business are not viable anymore. On the other side majority of the startups are with the young entrepreneurs they are very much competent in new technologies. Hence, business with cloud solutions can provide better customize products and services to customers. Using cloud solutions or not is now outdated question in the modern business environment. It is all about how effectively use cloud solutions for SMEs in UAE and worldwide.     

In this article, we discuss how exactly cloud technology can help you improve your business.  

Easy access to software solutions

In the past, only giant corporations were able to use powerful software due to substantial infrastructure and human resources costs. However, with the cloud technology, small businesses get access to any software regardless of your location and size of the business for a way lesser amount. It is matching with the self-sufficient business strategy as you are not supposed to spend lots of money to have best solutions and it is mostly volume base solutions.  At the starting it is either free or very less.  


With the cloud, scaling is super easy. It makes scaling your business way cheaper as with cloud technology you can expand your system and fulfil data storage requirements without having to invest in expensive servers and other hardware. This is the key to success as you will have scalability within very short period of time. You are able to expand your activities with numbers of options available in the market. Scalability is key to success.   


Another benefit of cloud technology is the flexibility it brings to businesses with growing or fluctuating bandwidth demand. This is because, with cloud technology, you could scale up and scale down anytime with ease. In modern business context, it is very unpredictable demand supply behavior due so many external factors. As a business owner, you need to have both the option on the go to sustain and cloud technology is providing such facilitates to scale down with minimal cost, when need to do so.

Easy collaborations

The cloud makes it easy for your teams and departments to collaborate. It will enable real-time updates while allowing teams to view, edit and share documents effectively. The technology also offers better opportunities for improved communication between departments.

Fast collaborations mean fast decisions. It is most important that business owners react for the changes fast and effectively than its competitors to take the advantage. Using real time accurate information is allow you to react fast in real time is resulting your business far ahead from others.

Better data analysis capability

Every business generates a huge load of data every day. Yet only big companies had the power to process such volumes of data in the past due to costs related to data processing. However, with cloud technology, even small businesses get the opportunity to analyze most of the data they collect and use them in a meaningful manner to improve their business and sales. There are plenty of solutions available in the market to have meaningful data analysis job.

Better data organization

When you are a cloud for your organization, you will be able to collect and store the data of your organization across all channels. It will help you store all the data collected from different departments in one place, enabling you easy access to any data any time. It is more important you are able to get access to the required information with minimal time and cost. With cloud computing solutions it is very easy to reach required information and share with the relevant parties.  

Data backup and recovery

In the past, good data backup system needed large sums of money and time which make it impossible for small businesses to afford one. But now with cloud technology any small businesses in U.A.E can enjoy good data backup and recovery features without having to worry about losing data due to hard drive failures, power outage or natural disasters. In practice most of cloud data storage facilities are physically located in different parts of the world and same data has more copies in somewhere in the world.

Improved security

Comes with better security measures, cloud technology ensures you better security over your data, than on-premises servers. Service provider of your cloud will always use the latest security features against hackers so you don’t have to worry about data breaches. This is ensuring by your local IT team, but internationally trained well know professionals through reputed companies. Also, protection though access has been assured over the years by reputed companies with advance protection procedures.   

Save money

One of the top benefits of cloud technology is the money it can save for your business. With cloud technology, you can cut down all your costs you have to spend on infrastructure and on-premises servers.

To know more about how cloud tech can help your business, please refer www.creavty.com and we can guide you through solutions that your SME can make significant difference to prosper your business in UAE.


Sujeewa Appuhamy

Sujeewa Appuhamy

Managing Partner

2019 - November

Xerocon London - 2019

“Communities for Purpose” – 2019 Xerocon London, November 12, 13 & 14

 It was truly amazing, and London played host to this most beautiful and innovative conference for cloud accounting leaders in the UK, Europe, Middle East and Africa.

The Conference was attended over 3000 accountants around the world.  We Crevaty being a certified partner of Xero had the privilege to grab the most from this awesome event and met many app development partners for our future growth. Read More

Xero stands to help SME family around the glob. There is so much Xero has improved from the last year and Artificial Intelligence (AI), Machine learning are top the priorities among the rest.

All and all its about People, people and People…..

We, Crevaty, proud to be a part of the xero community as we started our business with the same common purpose of “create value for society” (Crevaty). Our objective is to create a technology enabled platform for our most talented local people to capitalize on the opportunities. Our business is for a bigger purpose and every single member of our team is not just doing a job, they work for the national interest and help the country earning revenue from foreign currencies

2019 - November

Chandima Geethanjali

Chandima Geethanjali

Assistant Manager

Sandun Bandara

Sandun Bandara

Client Relationship Manager

Maintaining books of accounts is mandatory in UAE

Bookkeeping as per U.A.E. Federal Law

Bookkeeping is important for any business in U.A.E., large or small. Unfortunately, many businesses neglect the bookkeeping process in their business which later leads them to huge business failures. 

The reason for this is either business owners’ lack of knowledge on the subject while others take it so lightly and don’t pay enough attention to keep up with the bookkeeping process effectively.

Either way, lack of proper books of accounts for a business always ends up in a nightmare no matter which industry you are in. Which is why in this article we discuss the U.A.E. Federal law you need to be aware of regarding bookkeeping in your business.

Read More

Before that’s let’s start by explaining what is bookkeeping for those who don’t have a clear idea what bookkeeping exactly is.

What is bookkeeping?

In simple words, bookkeeping is the process of recording financial transactions of a business. This is the very first step and the central aspect of the accounting process. Here, accurate, up-to-date, detailed records are been kept of all the aspects of financial accounting, preparing source documents for all operations, transactions, and other events of the business. From purchases, sales, receipts to payments by a person or another organization is recorded during the process.

Without a well maintained and well-organized bookkeeping process maintaining a healthy accounting process is impossible. The way of doing bookkeeping has changed significantly over last decade all over the world. Thanks to the cloud computing, there are number of sophisticated solutions available in the market for monthly fees where business can enjoy latest developments and it has gone to digital era. The technological developments as well the competition of providing value added services of the bookkeeping firms really benefited the business to have up to date bookkeeping system without considering the size or volume of the business.    

Below are some mostly used solutions for SMEs worldwide. (Top 10 SMEs accounting software’s in the year 2019)

  1. Xero
  2. Fresh books
  3. Quick book
  4. Sage 50 Cloud
  5. Zoho books
  6. Sage
  7. Free Agent
  8. Netsuite ERP
  9. Tipalti
  10. Sage business cloud accounting

Further in UAE, there are some accounting software’s are listed in the FTA website which help business owners and or accountants to ensure they are compatible with UAE VAT requirements. You can find out such software’s through below link. 


U.A.E. tax law for bookkeeping

According to the U.A.E. tax law, every business must maintain books of accounts. As per the Federal Law No. 7 of 2017 on Tax Procedures, every company should keep books of accounts of at least of 5 years from the end of its financial year.

And it’s a duty of the shareholders and the partners of the business to ensure that the bookkeeping process is been maintained according to the provisions of the tax law.

In accordance with Cabinet Decision No. (36) of 2017 on the Executive Regulation of Federal Law No. (7) of 2017 on Tax Procedures, it has established the responsibility with regards to the proper books of accounts that business owners need to maintain. Below are the articles you may refer to know exact requirements.

Article (2) Keeping Accounting Records and Commercial Books

Article (3) Period of Record-Keeping

Article (4) How to Keep Accounting Records and Commercial Books

Article (5) The use of a language other than the Arabic

 Article (2) Keeping Accounting Records and Commercial Books

1. Accounting Records and Commercial Books shall include the following:

a). Accounting books in relation to that Business, which include records of payments and receipts, purchases and sales, revenues and expenditures, and any business, and any matters as required under any Tax Law or any other applicable law, including:

 1) Balance sheet and profit and loss accounts.

 2) Records of wages and salaries.

 3) Records of fixed assets.

 4) Inventory records and statements (including quantities and values) at the end of any relevant Tax Period and all records of stock-counts related to Inventory statements.

b).Additional records as may be required in the Tax Law and its Executive Regulation.

2. In addition to the Accounting Records and Commercial Books mentioned in Clause (1) of this Article, the Authority may require any other information in order to confirm, through an audit trail, the Person’s Tax obligations, including any liability to register for Tax purposes

Article (3) Period of Record-Keeping

1). Every Person holding and maintaining any of the records mentioned in Article (2) of this Decision, shall keep these records in a manner that enables the Authority, or an officer authorised by the Authority, to ascertain that Person’s Tax obligations, as follows: 

a). For a period of (5) years after the end of the Tax Period to which they relate in the case of a Taxable Person.

b).For a period of (5) years from the end of the calendar year in which the concerned document was created in the case of non-Taxable Person. 

c). For a period specified in the Tax Law for real estate records.

2). The Authority may, before the expiry of the period specified in paragraph (a) of Clause (1) of this Article, inform the Person to retain the records for a further period not exceeding (4) years, in cases where he is required to do so including the following: 

a).If the Taxable Person’s tax obligations are subject to a dispute between him and the Authority.

b) If the Person is being subject to a Tax Audit and that Tax Audit has not yet been completed.

c). If the Authority has given notice to the Person that it intends to conduct a Tax Audit before the expiry of the period specified in Clause (1) of this Article.

3. If a Person is no longer a Taxable Person, he shall be required to comply with the provisions of paragraph (b) of Clause (1) of this Article. 

4. Where a Person enters into bankruptcy proceedings, his Legal Representative is required to keep the records of that Person for 12 months from the date on which those proceedings have come to an end.

5. For the purposes of Clause (4) of this Article, should the Authority require the records to be kept for a longer period, it may take possession of them, at a time agreed with the Legal Representative responsible for the relevant bankruptcy proceedings.

Article (4) How to Keep Accounting Records and Commercial Books

1. Unless otherwise required by the Tax Law, the obligation to maintain Accounting Records and Commercial Books shall be met through any of the following:

a). Creating the record and the retention of original Documents which support the entries contained in the record.                                                                                                                

b). Creating the record and preserving the information that was contained in the original document, provided that:

1) The information matches the data contained in the original document, and shall be available during the periods referred to in Article (3) of this Decision.

2) The information retained or stored in either photocopy or electronic form, and an easily readable copy of it can be reproduced within a reasonable period, if requested by the Authority.

2. The Authority may lay down the rules of preserving information contained in Accounting Records and Commercial Books, and impose such reasonable requirements for ensuring that the information will be as readily available to it as if the original records themselves had been preserved.

Article (5) The use of a language other than the Arabic

1. Tax Return, data, information, records and other Documents related to any Tax shall be submitted to the Authority in Arabic, as per the mechanism specified by the Tax Law.

2. As an exception to Clause (1) of this Article, the Authority may accept data, information, records and other Documents related to any Tax to be submitted to it in English; the Authority may, at its discretion, request the Person to translate some or all of these to Arabic.

3. Where the data, information, records and other Documents related to any Tax are issued in any foreign language other than English, the Person is required to submit these Documents to the Authority as translated into Arabic.

4. The Person submitting any translation of data, information, records and other Documents related to any Tax to the Authority shall be liable for the accuracy and correctness of the translation, and shall bear all associated costs. The Authority shall have the right to rely on the translation provided.

Please click following link for related laws.


Violation of the law

Violation of the above law might land businesses in penalties and specially reputation damage in the market is more costly and many other problems.

Apart from to comply with the VAT requirements, there are many benefits to bookkeeping. Following are a few of them 

  • Track and complete control on the business
  • Ensure better financial analysis and management
  • Make reporting to business partners, banks and possible investors
  • Ensure easy fulfilment of tax obligations 
  • Better cash flow management
  • Make business planning easy
  • Reduce financial risks

How Crevaty can help to maintain books of accounts as per U.A.E. tax law

Although you are quite sure you need to be more serious about your bookkeeping process now, yet have no clue from where to pick it up from or from where to start, worry no more. Because we have the perfect solution for you.

Being experienced bookkeepers in U.A.E. we offer comprehensive bookkeeping outsourcing services in U.A.E. taking the hassle out of the process. So, the business owners can have peace of mind. 

Not like having a bookkeeper in U.A.E. outsourcing your bookkeeping to us will leave you with many benefits including 

  • Save time to focus on important business matters 
  • Low costs
  • Lower turnovers and no statutory requirements and payments to staff
  • Unbiased opinion
  • Let you have experts in your industry 
  • Digital bookkeeping solutions
 Learn more about our bookkeeping services in U.A.E. www.crevaty.com
2019 - October
By Sujeewa Appuhamy

By Sujeewa Appuhamy

Managing partner

Why SMEs look for Service outsourcing?

Service outsourcing is catching fame like wildfire around the globe among small businesses. With this, small business owners get the ability to have their own accounting department or an IT department without having to invest a small fortune. Many small business owners are fond of outsourcing services due to its multitude of benefits. In this article we share are a few of the reason why SME’s tends to outsource some aspects of their business operations.

What is service outsourcing?

To put in simple words, the practice of having a particular job function done outside a company without having an employee or a team handle them is known as service outsourcing.Read More

Below are the benefits of service outsourcing

Save your money

With outsourcing, you will be able to create entire new departments in your business without having to hire any employees. Thus saving you the money you will otherwise have to spend on employee salaries, allowances, workspaces and other operational resources.

Reduce risks

Hiring new employees can be a huge risk especially when you are starting in business. During this stage, team expansion should be done strategically and wisely. When you outsource your operations, you get to have a team for yourself that is not your own. Which reduces financial risks in a great deal.

Make everything simple

In small businesses often business owners lack business and operational knowledge and skills although they are expert in their industry. This might make it difficult for them to supervise other business aspect of the business such as accounting and supply chain, even if they hire employees to handle such operations.

However by outsourcing what you don’t know you are always ensured a reliable service.

Competitive advantage

When you are handling everything in-house, all those expenses in managing inhouse employees passed down to the end consumer. With the costs saved with outsourcing, you will get a better competitor advantage in the market place.

Experts’ expertise for a lower cost

In early-stage on businesses, it’s difficult for business owners to afford well-experienced professionals for their company.

But when you are outsourcing services, you get the opportunity to get the best expertise for your business from highly experienced professionals for a fraction of the price if they were to hire as in-house employees.

Release you from employee obligations

Managing an in-house staff is a huge responsibility and a lot of work. From payroll management, leave approvals, other compensations to employee privileges to be in compliance with the law, the list goes on and on.

But once you outsource your services, you never have to deal with any of these ever.

Save you the hassle

When your team gets bigger, you need bigger spaces, better technology upgrades, and more resources, which piles up to the business challenges you already have.

None of these requires with outsourcing which lessen the stuff that you need to invest yourself in.

Enable you to start projects quickly

Many small businesses have very tight budgets and this might hinder their ability to go conquer new business opportunities and start new projects. Complexity in operations and risk involved in can also add up to this.

With the outsourcing options, the business gets the agility to start new projects at any time as it reduces the risk in a great deal.

Service outsourcing can bring your business many benefits, only if you choose a reputable service outsourcing partner in U.A.E. like Crevaty.

2017 - December

VAT Implementation in the GCC

The clock is ticking toward the introduction of the GCC Value- Added Tax (VAT) on 1 January 2018

Adoption of a VAT by the GCC States comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates represents a major shift in tax policy. Theimplementation of a VAT has an impact on all the segments of the GCC economies and entails a fundamental change in the way consumption taxes are enforced.

GCC States are considered as a single economic zone and the GCC VAT regime will encompass many of the features of the EU VAT regime

Read More

Broad nexus rules, which may require registration for VAT without significant business presence

Exemptions may be based on the status of the customer and not solely on the type of the transaction

Limited scope of exemptions, including Government services for education, health and social services

A single standard VAT rate of 5 %, 0% and exempt

The reverse charge applies on certain goods and services received from other GCC States. Confirms that the same VAT consequences as if the recipient obtained those services from a local supplier

Mandatory and elective VAT registration thresholds.

VAT Group Registration — aggregation and disaggregation legislation proposed.

2017 - December


  • December 2015: GCC Finance ministers confirmed that the provisions of the GCC VAT Framework Agreement have been broadly agreed
  • January 2016: UAE Minister of State for Financial Affairs and Saudi Arabia Minister of Finance confirmed that VAT will be implemented in the GCC States in 2018 and the UAE will go live on 1 January 2018
  • April 2016: Finance Ministers in the GCC working on implementation initiatives to achieve VAT go-live on 1 January 2018
  • VAT law has been released by the UAE government to go live on 1 January 2018
  • VAT registration starts from 12th October 2017 to fully comply with the requirements with effective from 1 January 2018.