Part-Time Accounting Services In Dubai, UAE

Advantages of Part-time Accounting Services

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There are various advantages that a part-time accountant in Dubai and UAE could deliver. 

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1. Adds value to your company

Because part-time accountants work for a variety of companies, they may be well-known in the market. It would add value to your business. You can later choose the best Full-Time Accountant for your company by hiring different accountants.

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2. Expertise in multiple domains

When working with different companies, a Part-Time Accountant will have more time to learn about accounting services and tools. Any company that hires a Part-Time Accountant will benefit from this. A Part-Time Accountant is also a well-educated professional.

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3. Cost-effective

In contrast to a full-time accountant, a part-time accountant is only paid for the work that he completes. Furthermore, the company is not obligated to pay him any retirement benefit, gratuity, leave salary, or visa costs.

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4. Flexible timing

Because a Part-Time Accountant may not have a fixed calendar for his work, a firm obtains the service at their convenience and completes the work on time.

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Capella Part-time Accounting Services

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As one of the leading accounting consultancies in the UAE, CAPELLA provides cutting-edge part-time accounting services in Dubai to assist clients in meeting their accounting objectives for better business management. Among our many part-time accounting services are:

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1. Trial balance & auditing schedules preparation

This is the base report for all other financial reports. Trial Balance is the record of all credits and debits or the file of the closing balances of ledger accounts on a particular period. It is a basic statement to start the audit procedure of the company. An audit report is mandatory in terms of bank financing and legal requirements.

It ensures the proper balance of all entries made in the general ledger. CAPELLA can prepare an exact Trial Balance Sheet for your company so that you will not face any future issues when you prepare the Financial Statement for your company.it is the responsibility of an accountant that all entries are posted in the respective ledger and it closed on a periodic basis.

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2. Income statement preparation

An Income Statement is an account of a company's pecuniary performance over a specific accounting period. 

Capella takes the following steps to prepare your income statements: -

• Files the trial balance on a periodic basis

• Analyses the revenue, book the sales invoice according to its nature 

• Analyses the cost of goods sold on a department wise 

• Computes the gross margin

• Analyses the functioning expenses

• Computes the net income after taken into consideration the provisions and other accrual expenses.

• Follows the accrual basis of Accounting

 

3. Balance sheet preparation 

A balance sheet is the polaroid of a company’s financial statement. It gives an insight into the financial operations of a company and its position as it shows the assets, liabilities and the equity of a company. CAPELLA prepares the report of the current assets against the long-term assets and the current liabilities against the long-term liabilities that would help you to understand the working capital and the current ratio of your company. The owner comes to know where his company stands. A balance sheet will also meet the requirements of the bank.

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4. Cash Flow Statement (CFS) preparation

CFS is the financial statement prepared to show all the cash inflows and cash outflows of a company. The investors can recognize the running operations of the company, the source of the money, and the way of its spending. CAPELLA prepares the cash flow statement for you and helps you analyze and understand whether your company is on a concrete financial base and make feasible for the investor to make a decision.

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5. Accounts receivable entry preparation

An Accounts Receivable entry shows the lists of unpaid customer invoices and unused credit notes. It tells which invoices are unsettled for payment. CAPELLA experts prepare an accounts receivable aging report and analyses if the company's accounts receivable balance is appropriately appreciated. Also, their experienced team will guide the strategy for proper Accounts Receivable Management

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6. Accounts payable entry preparation

An Account Payable Report shows the total funds spent by a business on its various accountabilities, including private loans, utility payments and raw material purchases. CAPELLA analyses the accountabilities of your company and preparers the Accounts Payable Entry as per the requirements. Managing the accounts payable is one of the strategic facts to streamline the cash flow of the company. CAPELLA experts are a call away for your needs.

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7. Bank reconciliation statement preparation

A bank reconciliation statement is a record of banking and business activity that reconciles a company’s bank account with its fiscal records. It shows the deposits, withdrawals and other activities related to a bank account over a precise period. By preparing a Bank Reconciliation Statement, CAPELLA ensures the accuracy of every entry made in your Bank’s cash book and pass book and rectifies any error if done in both the books.

Bank closing by booking bank charges and managing the PDC will be led by CAPELLA. Tracking of PDC will lead to proper cash flow management. 

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8. Bank cash book preparation

A Bank Cash Book is a financial record of a company. It contains all cash receipts and disbursements, including bank deposits and withdrawals. CAPELLA prepares the record of every financial transaction and enters it in the general ledger. Day to day closing of bank ledger and its reporting will enable the company to know its actual liquidity position. 

Other than these above-mentioned services, CAPELLA experts prepare other MIS reports to meet the Management Requirements, as mentioned below:

• Cost-benefit Analyses

• Budget Analyses

• Cash flow projection

• Analytical report for liquidity position of the company

 

In conclusion, maintaining the accounts of your business is the most important part of the routine. But most of the firms do not take appropriate and precise management of the books of accounts. This will affect the smooth running of your business which will put you in trouble by the end of the year.