Nowadays,no growing business can dream of surviving without accounting software. Every business, be it big or small, needs multi-functioning accounting software. Many budding small business owners in UAE often struggle with managing finances and other related tasks and are not even satisfied with the results. Imagine all the time and hassle that you bear for […]
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VAT, or value added tax, made its debut back in 2018 when GCC announced 5% for the companies who are reporting over 3.75 million Dh annually. The tax was introduced by the Federal Tax Authority on both individuals and businesses. We all do understand the importance of taxes for the economy. It is equally important […]
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Introduction Audit is a process of thorough examination and analysis of financial records and reports of an organization to infer the overall performance of it. A typical financial audit involves checking Income Statement, Balance Sheet, Cash Flow Statement, Statement of Equity and in some cases if the ledgers are maintained as well. It is kind […]
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If you are a small or medium sized business owner who is in search of an accounting software, Xero might just be the best option for you and your business. It is cloud-based accounting software that is specially designed to cater to small-scale businesses. Xero has established its offices in many different countries and is […]
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VAT stands for Value-Added Tax; it is commonly referred to as a consumption tax. At each stage of the supply chain, a value is added to a product or a service. While the amount of VAT depends on the product’s cost, it also depends on the intermediate stages, from the point of production to the […]
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Xero vs. Quickbooks is a common question that many people ask. Whether you are trying to understand the difference or decide which one is better, you have come to the right place. We are here to give you a detailed overview that will help you make an informed choice. Why small businesses need an accounting […]
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Nowadays, most people want to start their own businesses; yet, a daunting prospect is that 50 percent of small businesses fail within five years. There is a lot to consider before starting a small business. So are you thinking of making the first move in making your own business? That’s great! No doubt, you would […]
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Chartered Accountants and regular Accountants are not the same. The expression “Accountant” is too broad and can be used for different sub fields. There are a number of key factors that differentiate between the two and to choose the right professional to support you will ensure you get the right level of expertise and support […]
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Regardless of the digital revolution over the business world, a lot of small businesses remain uncertain about adopting the latest trends in technology. In order to understand the need for an accounting software, first, you need to understand what an accounting software is? Everything that a small business purchases or sells has to be recorded […]
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Outsourcing is not a new concept. For many years this strategy has been implemented with great success for many small businesses. However, in recent years, it has become a trend among a myriad of industries or businesses to outsource their yearly function of accounting and bookkeeping Dubai. It is a service extensively sought out by […]
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Businesses are faced with many hard decisions since the fall out of the COVID-19 pandemic and it’s resulting worldwide lockdown. However, this should not mean that you should shut shop and close, now would be an ideal time to “pivot” into a new business model. Entrepreneurs and business owners will need to assess how their […]
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With the unfortunate outbreak of the COVID-19 virus and the resulting slowdown in global business, entrepreneurs and business owners will need to spend time to plan their business finances for the next few months if not already done so to ensure they can navigate through these uncertain times. A cashflow forecast is an essential indicator […]
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