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Cloud Accounting – The best way to future-proof your business accounting

Every industry changes with time- so is accounting. It is a widely-held opinion among the world’s leading accounting commentators that the future of accounting is online. Today accounting sector is evolving vigorously than ever before- specially due to the advancement in technology and internet. Since we all are well aware of the state of the accounting sector at present, let’s have a look at how the future of accounting is going to be like with cloud accounting. Among other cloud solutions, Xero is our bets recommendation. Let us look in to detail how Xero can bring the change you need.

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VAT Liability on Jointly Owned Properties – UAE

It was always debatable topic VAT on JOP in the United Arab Emirates (UAE), till the Federal Tax Authority (FTA) issued guidelines on real estate VAT, which has been covered the VAT liability of JOP/OAs in the year 2018. There are plenty of opinions from different parties still in the market on VAT liability relating to services charges. Main reason for that is there is no legal establishments in many cases for JOP/OAs in the industry. But FTA has issued clear guidelines to follow. Let’s go in to details to understand and identify practical issues facing JOP/OAs in terms of tax environment.

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Promising SME’s funding avenues in UAE.

Operating a SME can be stressful with the pressure of an economic downturn. The outbreak of the coronavirus has slowed the global economy and most companies are in a state of flux. As this epidemic evolved to a pandemic, it is projected that this ordeal may last for considerable period. In the face of this uncertainty, many Small Medium Enterprises (SME’s) are already struggling to maintain their financial stability. What relief is available for these companies?

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How to protect your business from COVID-19 challenges.

It is a challenging time for all due to the COVID-19 pandemic. As a business owner, you have to look at things differently, as the business environment has changed significantly and most part of it is not under your control. Still there are things which you can do and which will help you to continue your business.

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Why you should Automate your payment process immediately.

When you are processing payments for different recipients in different currencies, the management behind the scenes in transactions can get out of the control quickly. This can hinder your business growth in a great deal.

The amount of manual work of the payment processing will take more and more of your team’s time and effort while reducing the efficiency and the accuracy of the process. Automating your payment process can deliver a solution to all your payment processing struggles once and for all.

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Right partner matter for Dubai SME’s to outsource

When you finally decide to outsource some of your operations, the next biggest question is finding the right outsourcing partner in U.A.E. It doesn’t matter whether it’s accounting and tax, customer service or marketing that you are outsourcing, it’s crucial to partner up with a reputable service that capable of getting the job done well.

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Why SMEs look for Service outsourcing in Dubai?

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.

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Maintaining books of accounts is mandatory in UAE

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.

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