Dubai has been continuously serving as an open business-hub welcoming international investors, entrepreneurs, freelancers, industrialists to set up their own corporate space. As the number of corporate entities grew, it proportionately increased the need for accounting and auditing needs. These services are essential for an organisation, irrespective of size and nature. Over time, business investors find it beneficial by outsourcing the accounting activities to professional firms due to the services they offer. Let's have a look at them.
Basic Services Offered by an Accounting Firm
Some of the core functions provided by an accounting firm are:
- Accounting and Financial: takes care of the financial need of the company
- Audit and Assurance: serves the purpose of scrutiny the company core essentials, and to figure out if the activities carried out are legal
- Tax: helps a business entity while dealing with tax filing
- VAT: helps a business entity to understand VAT requirements and comply with the rules
- Company Incorporation: wherein the firm assists in providing services related to setting up a company
- Management Consultancy: helps to deal with a business plan, fraud investigation etc.
It is to be noted that before you outsource your confidential information, you need to check for certain essentials while choosing an auditor in Dubai.
What to look for while choosing the Best Accounting Firm?
Understanding the background of an auditor is essential before you hand-over the company information. It builds a trust that your confidential information will be in safe hands. Moreover, it highlights the capacity of the organisation to deal with your business requirements.
Having a strong industry experience does matter when it comes to handling accounts. The more experienced they are, the more benefit you will be provided with. It will turn out to be a hassle-free process as they are well-equipped with the accounting standards to be followed. Make sure that your accounting partner holds a good industry experience.
The point of approachability matters a lot. You need to make sure that your partner needs to be approachable enough to listen to you and understand your business needs. The outcome will not only be result-driven but also enhance business relationships.
4.Services Offered and Quality
It is essential to have a close look at the services offered by an accounting firm. In general, the accounting professionals provide a package related to the core pillars of a company like an audit, accounting, tax, etc. Having a complete idea regarding the range of services that they offer will help you in choosing the best business partner.
Accounting fees vary from firms to firms depending on the service you avail for. Before you choose your accountant, make sure to have a look at the price list to have a clear idea regarding the price they charge for each service.
Technology is what drives the business world today. An accountant must be well-versed with the latest accounting software to be used while dealing with your accounting information. Having a soft-copy regarding all the accounting essentials turns out to be vital to avoid any mishap in the future.
Time is precious. It would help if you had an idea regarding the time taken by your accountant for delivering a project.
8.Existing Clients List
A list regarding the current clients will give a better idea regarding the goodwill of the company, and the position it holds in the market.
In short, we can say that choosing the best accountant can accelerate your business to the next level. It is recommended to take care of the points mentioned above while heading towards the outsourcing process. Proper handling of the book of accounts will prevent a business entity to suffer unwanted losses.
If you are a business owner, you need to make sure that your company accounts are in safe hands. We at Jaxa are here to help. Our team of professionals that strives to provide the best accounting services to our clients, and that’s the reason we stand as one of the top accountants in Dubai. Our experienced business experts take utmost care in understanding your business needs and cater to the requirements accordingly. To know more, do contact us-we’d be glad to assist.