In the contemporary business landscape of Dubai, where economic activities are thriving, success is not solely contingent on product sales but also hinges on accurate financial management, meticulous accounting and record-keeping.
As the world advances, traditional accounting methods have transformed, and accounting software has emerged as a strategic tool utilized by accountants for recording and reporting financial transactions. With a myriad of options available, the choice of accounting software depends on business owners, considering their business types and specific requirements. Customized accounting software appeals to larger enterprises, while smaller businesses can efficiently operate with generic solutions.
Choosing the right accounting software, approved by the FTA, is crucial for compliance and seamless financial operations. In this article, we will explore some of the best FTA-approved accounting software solutions in Dubai, empowering businesses to stay ahead in the dynamic financial environment.
Zoho Books is FTA-approved and VAT compliant accounting software that caters to the specific needs of businesses in Dubai. With its cloud-based platform, Zoho Books allows for seamless collaboration with numerous widely used programs (Box, Drop box, Google Drive etc) and accessibility from anywhere. The software’s user-friendly interface makes it easy for businesses to manage their finances efficiently.
This software facilitates account creation and aids in maintaining essential cash flow. The application offers various features such as automated workflows, bank reconciliation, inventory tracking & adjustments, landed costs, vendor credits, customizable invoice templates and transaction approval. You may visit Zoho Books website for more information on pricing and different plans they offer.
QuickBooks Online (QBO) by Intuit is a widely recognized and FTA-approved accounting software solution used by over 3.4 million businesses globally. QBO offers various versions, including pro, premium and enterprise, catering to small and medium enterprises. Its cloud-based nature allows for real-time collaboration, ensuring that financial data is up-to-date. QBO offers features such as invoicing, expense tracking, inventory management, VAT-compliance, financial reporting and mobile access, making it an ideal choice for businesses seeking a comprehensive solution. Moreover, its user-friendly interface simplifies complex financial tasks, making it accessible even for those without extensive accounting expertise. QBO offers businesses real-time insights with detailed reports. It simplifies pricing complexities and allows remote accessibility anytime, anywhere. For more information and pricing details you may visit QuickBooks website
Xero is a leading 100% cloud-based accounting platform suitable for small businesses all the way to enterprise level. With a user-friendly interface and scalability, it offers features like invoicing, bank reconciliation, and financial reporting. Xero Accounting not only enhances efficiency for accountants but also features an App Store, allowing seamless integration with numerous popular Apps. This transforms traditional accounting into a modern system. Connect Apps spanning sales, CRM, HR, E-commerce, inventory, and more for a comprehensive business management experience. For more information on their pricing and different plans they offer, you may visit Xero website.
Tally Prime has been a staple in the accounting software market and is trusted by many businesses in Dubai. This software is designed to handle the complexities of the UAE tax system, ensuring businesses remain compliant with FTA regulations. With its robust features, cloud access and scalability, Tally offers assistance for businesses with multiple locations or managing several enterprises.
The enhanced features of Tally offer an improved user interface with accessible options. Tally Prime supports bilingual invoice generation in both Arabic and English. It simplifies VAT filing through automated tools for returns, invoicing and reporting as per FTA guidelines. It comes with a robust feature set suitable for SMEs and larger enterprises. With Tally’s strong local presence and support in the UAE, Tally Prime is a preferred choice for many companies despite the high license cost. You may visit the Tally website and find the best price for your requirements.
Sage Accounting Software
Sage Accounting Software is a robust accounting software solution that is widely used in Dubai. Sage 50 and Sage 200 are FTA approved software for SMEs and mid-sized businesses respectively. This accounting software combines the power of desktop accounting with the flexibility of cloud access, providing businesses with the best of both worlds. It enables the management of multiple companies with different accounts all in one centralized platform.
Sage 50 offers fundamental accounting functionalities such as invoicing, bank reconciliation, cash flow management, inventory control, and adherence to local legislative requirements. On the other hand, Sage 200 goes beyond these basics by providing additional features like multi-company support, project accounting, KPI dashboards, and extensive customization options. Known for scalability, Sage is prepared to expand alongside your business, making it an ideal choice for mid-sized businesses. Sage website gives you the option to choose the best suited solution for your business and get the quote for the same.
SAP Business One
SAP Business One, stands out as a market-leading business management solution from the renowned software giant SAP. It is FTA-approved and tailored for small to mid-sized businesses. Providing end to end business operations via core financial accounting, inventory management, and business intelligence functionalities, SAP Business One empowers businesses to streamline operations and ensure compliance with FTA regulations.
The FTA-registered software has standardized processes for VAT filing, invoicing, returns and other compliance requirements in the UAE. Being VAT ready, it reduces the manual work needed for tax reporting. SAP Business One also comes with 50+ pre-built reports, dashboards and KPIs. User access and activity logs enable data security and transparency within the organization. While SAP Business One requires considerable investment, it’s a feature-rich option for medium-sized enterprises looking to scale operations. Through the link that follows you may visit the SAP store and find the right solution for your business along with their pricing.
Oracle Fusion Cloud ERP and Oracle NetSuite
Oracle Fusion Cloud ERP is Oracle’s flagship enterprise resource planning solution, targeted for large global enterprises and corporations. It provides extensive customization options across a wide range of functions including financials, HR, supply chain, project management, and more. It allows businesses to meet all UAE VAT requirements including VAT reporting, submissions, invoices, payments and integration with FTA e-Services. Oracle Fusion Cloud has seen adoption by large government entities, state-owned enterprises, and multinational conglomerates in sectors like financial services, telecom, oil and gas. You may visit Oracle website to choose the best accounting solution and request the detailed pricing information
Oracle NetSuite is a powerful cloud ERP platform with customizable solutions tailored for UAE businesses. Oracle NetSuite comes with an Arabic interface and adheres to all UAE VAT regulations for tax reporting and invoicing standards. Oracle NetSuite is more commonly used by fast growing SMEs and mid-sized organizations in UAE. The unified platform provides flexibility and customization for expanding UAE-based firms. You may visit Oracle NetSuite website to choose the best accounting solution and request the detailed pricing information.
Migrating to an FTA-approved accounting platform is vital for all tax-registered businesses in the UAE. When choosing accounting software, businesses should give priority to features such as VAT invoicing, tax returns and reporting, user-friendly interface and multi company support (for larger enterprises) that facilitate compliance with FTA regulations. The FTA provides a complete list of registered accounting software to choose from. Investing in the right solution goes a long way in efficiently managing your finances while remaining compliant in the UAE. BCL Globiz offers assistance in seamlessly transitioning to a new accounting software solution. If you’re uncertain about choosing the ideal software for your business requirements, we can aid you in the selection process.