How to Choose the Best Accounting Firm in Dubai: Key Factors
Accounting increases the transparency in times of volatility in the profits. A right accounting company helps the business to record the past and current financial data, thus helping in future decisions. Therefore, an accounting company can help a business grow n-folds.
Experience:
An experienced accountant can bring in his expertise and advise you of the right decision to be considered. The laws are becoming stringent. The expertise and cleverness of an accountant can guide the company to mitigate the necessity of financial expenditure stemming from the penalties due to missed deadlines.
Outsourcing accounting services is a strategic decision many businesses make to access expert financial management while reducing operational costs. Learn more about the benefits of outsourcing accounting services in Dubai, UAE.
Pricing:
The accounting packages offered by the firm must be reasonable and not hurt the bottom line of the company. This helps the company flourish and maintain a healthy profit margin.
Customer support:
The events and requirements of the company are not predictable every time and is not constant every month. The firm you hire must also be available for sorting out queries and offering better advice. A large part of the accounting is about understanding the transaction in depth. The firm must connect with the management often to account for the transactions better.
Transparency:
The firm must be transparent on their accounting packages and not charge hidden costs. Further, the firm must provide access to the accounting software so that the management is aware of the completion of accounting. These data could be used by the management to make future decisions.
Robust Accounting Software’s:
The firm you choose must have expertise on several online software applications. The desktop ERPs don’t provide the real time data to the management. Therefore, an accounting firm must possess expertise in online software applications. A few accounting software applications that provide online access are QuickBooks, Zohobooks, Xero etc.
Check List of Top FTA Approved Accounting Software Solution in Dubai, UAE
History of the firm:
Whether the accounting firm has been in existence for decades or has had its branches established worldwide for decades could be another important deciding factor. This not only fosters a sense of trust when sharing confidential company information but also alleviates concerns about the necessity of changing accounting firms in case of unexpected closures.
Personal touch:
A good relationship with your accounting partner helps you share the details of the company without any barrier. Where the relationship is well flourished, it would be easy for the accounting partner to gauge your requirements and provide suitable deliverables.
Workflow:
Several statutory acts require filing within the predetermined due dates. While choosing the accounting firm, learning about the workflow of the firm will help you trust that the due dates are not missed. A good accounting firm requests the data much before the due date and educates the management of its importance, which provides sufficient time for the management to take relevant decisions.
Value the time of the management:
Your accounting partner must understand that the management’s primary focus will be to carry out the activities of the business and that accounting is the recording of the result of carrying out the business. When he possessed this clarity, he would leave no stone unturned to ease the whole process for you.
Knowledge base:
The accounting firm must have mastery over the statutory acts so that no due dates are missed, and penalties could be avoided. You should understand the importance of choosing an experienced firm that can help avoid common accounting mistakes.
If you are looking for the best accounting firm in Dubai, then your search ends here. We at BCL Globiz, provide the best of accounting practices at affordable and reasonable pricing. A glimpse at the pricing is as below.
Pricing:
- Annual package for AED 250 per month (AED 3,000 billed annually) up to 40 transactions per quarter. This is suitable for companies who have not obtained VAT registration.
- Special packages:
- Start-up Package 1: AED 375 per month (AED 1,125 billed quarterly) up to 40 transactions per quarter, and
- Start-up Package 2: AED 500 per month (AED 1,500 billed quarterly) for 120 transactions per quarter.
- These packages include VAT compliance and data to be shared on quarterly basis.
- Monthly package: This includes monthly accounting, VAT compliance, preparation of monthly reports, and business advisory services. Pricing starts from AED 800 per month and depends on the quantum of transactions and may go up to AED 2,500 per month.
For more details, get in touch with our experts today at punith@bclglobiz.com
