Part-Time Accounting Services In Dubai, UAE
Capella is the first name most SMEs and MNCs think of when it comes to full-time or part-time accounting services in Dubai, UAE. Capella part-time accounting services help you to reduce costs, offer greater flexibility, and experience smart expertise from a third-party who has served numerous companies in various domains by providing the adaptability of serving only when needed. Hiring a part-time accountant in Dubai not only reduces the cost of your business accounting services, but it is also just as beneficial in terms of facilities and services as hiring a full-time accountant while being more flexible with working hours as required by the business management.
Hiring a Part-time Accountant in Dubai
Dubai and the UAE are quickly becoming a lucrative business hub for both established companies and start-ups. A new business can benefit greatly from the commercial ecosystem and competing infrastructure. Investors are drawn to the country because of its convenient government policies and transparency.
Have you recently started a business or are you looking to expand an existing one in the UAE? You will then require the services of an accountant. Whether you require the services of a Full-Time or Part-Time Accountant is determined by the criterion and your budget.
Outsourcing your accounting and bookkeeping work will be beneficial to your company. Hiring a Full-Time accountant will meet your needs, but a Part-Time accountant can provide you with additional benefits because he can do the work for you at a lower cost.
Advantages of Part-time Accounting Services
There are various advantages that a part-time accountant in Dubai and UAE could deliver.
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.
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.
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.
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.
Capella Part-time Accounting Services
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:
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.
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.
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.
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
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.
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.
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:
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.
Why CAPELLA Accounting & Bookkeeping Services?
CAPELLA provides a wide range of accounting services to meet the financial needs of any international business. CAPELLA ensures that the financial statements comply with the International Financial Reporting Standard (IFRS) and maintain the highest level of professional canons and excellence through meticulous accounting and financial reporting services in Dubai.
CAPELLA also provides CFO services, Outsourced Accounting Services, Organizational Restructure, TAX or VAT Consultancy Services, Accounting Software Implementation Services, and Due Diligence Services to the business world.
Do you require accounting or financial reporting assistance? Feel free to contact us; our experts will get back to you as soon as possible.
Why hire us for accounting services
Hiring us to provide accounting services in Dubai and elsewhere in the UAE has several advantages:
Proven track record of providing fully outsourced and co-sourced accounting services.
High-quality deliverables on time and within budget
Accounting for performance – accurately, objectively, and ethically
A team with extensive knowledge of the Middle Eastern market and its regulations
A focused personal and professional service focused on client satisfaction
A flexible approach and on-site or off-site work customized to the client's requirements
Compliance and VAT-related services