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Part-Time Accounting Services in UAE

When it comes to full-time or part-time accounting services in UAE, CDA is the first name most SMEs and MNCs prefer to keep their accounts in check. Providing the adaptability of serving only when required, CDA part-time accounting services help you to reduce the cost, offer greater flexibility, and experience smart expertise from third-party who served numerous companies in various domains. Hiring a part-time accountant in UAE not only saves the cost of your business accounting services but would be equally beneficial as a full-time accountant in terms of facilities and services while being flexible with the working time as required by the business management.

part time accounting services in uae

Hiring a Part-time Accountant in UAE

UAE becoming a lucrative business hub for both the established and the start-ups. The commercial ecosystem and the competing infrastructure are highly applicable to a new business. Lenient government policies and transparency make it attractive to investors.

Have you just started a business or are you willing to enlarge your existing one in UAE? Then, you will necessitate the services of an accountant. The selection depends on the gage and your budget whether you entail the services of a Full-Time or Part-Time Accountant. 

Outsourcing your Accounting & bookkeeping work will indeed be advantageous for your business. Hiring a Full-Time accountant will suffice your needs, but, at the same time, a Part-Time accountant can provide you with added advantages as he can do the work for you at a lesser cost. 

Advantages of Part-time Accounting Services

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

1. Adds value to your company

Since Part-Time accountants work for different companies, they might be well known in the market. It would bring added value to your company. By hiring different accountants, you can select the best for your concern as a Full-Time Accountant later.

2. Expertise in multiple domains

A Part-Time Accountant will have more time to acquire vast knowledge of the accounting services and tools when he works with different companies. This will be an added advantage for any company that hires a Part-Time Accountant. A Part-Time Accountant is a well-trained professional also. 

3. Cost-effective

A part-time accountant has to be paid only for the work done by him, unlike a full-time Accountant. Moreover, the company is exempted from the liability to pay him any retirement benefit, gratuity, leave salary, and even visa cost also. 

4. Flexible timing

Since a Part-Time Accountant may not have a static calendar for his work, a firm gets the service according to their convenience and gets the work done in time. 

CDA Part-time Accounting Services

Being one of the leading accounting consultancies in the UAE, CDA offers state-of-the-art part-time accounting services in UAE to help clients accomplish their accounting goals for better business management. Our wide range of part-time accounting services include:

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. CDA 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. 

CDA 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. CDA 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. CDA 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. CDA 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. CDA 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. CDA 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, CDA 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 CDA. 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. CDA 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, CDA 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. 

Why CDA?

CDA is a team of professionally competent and skilled accountants. We offer highly skilled and professional Part-Time Accountants who are cost-effective for your company and acquiescence to universal canons. Our professionally qualified and experienced Part-Time Accountants will reach your company’s door-step and solve all your accounting and bookkeeping work at your premises and will prepare for you all the necessary reports and information as per your needs. 

Besides offering part-time accounting services in UAE, CDA offers all other business-related services like CFO services, Internal & External Audit Services, Audit in Free Zone, VAT Return Filing Services, and many other services related to your business needs. 

Feel good to contact us as our expert will give you one-hour consultation on your queries on your business needs.


Frequently Asked Questions on Part-Time Accounting Services

The reputation of Part-time Accounting services in UAE is increasing due to (i) The implementation of VAT: The new tax scheme has affected the manoeuvre and nature of a business and therefore the calculation of tax also, (ii) Accounting Records maintenance for five years as per the law of the land, (iii) Streamline business finance and measure profitability, and (iv) Monitor and control cash flow management.

Sensitive information could result in a commercial loss for the company if disclosed. So before making disclosures on sensitive information an agreement is signed from the client as per the statute including a confidentiality clause. Any disclosure exemption may:(i) Be subject to abuse, (ii) Increase investors’ burden to obtain information, and (iii) Undermine confidence in the information that is available.

A part-time accountant or outsourced accountant may be a one that analyses the financial books of a corporation. Though they perform similar functions, the difference between an in-house accountant and a part-time accountant is that once you hire a part-time accountant, they work for a third-party firm and not for your company. They only offer their services whenever the necessity arises, or any firm hires them. They’re going to come to your office for the required amount of your time and assist with this problem. As soon because the project is completed or the required time is over, they might return to the third-party firm where they might be re-hired by the other firm in need.

There are a number of benefits of hiring a part time accountant. For a start-up, the probabilities are that it'd not have an abundance of funds. This means the business cannot maintain an in-house team of accountants. On hiring part-time accounts(i) Cost effective-No visa cost, gratuity and leave salary to be paid, (ii) Wide expertise in industries with continuous services throughout the year, (iii) Provides informed decisions, (iv) Analyse things correctly and may provide an ideal solution

Yes, as per the job specification for a part-time accountant there are various roles which are in demand. The following conditions would assist you to hire a part-time accountant: (i) Trust but verify, (ii) Confirm their power has limitations, (iii) Test their Digital savvy, (iv) Evaluate your needs, Pair software and industry knowledge

Our highly experienced team makes sure that business firms make their way into the market with a sound financial strategy about their investment. Here is a summary of accounting services which offer diligence to business start-ups.(i) Chart of accounts preparation with a classification of expenses as per the nature of your business, (ii) Reviewing and provides suggestions for improvement, (iii) Deputing staff to clear your backlog accounting, (iv) Training your staff on proper accounting procedures, (v) Creating access controls within the system at each level for instance, you'll not like your junior accountant to get or view financial reports so we will create different access control levels.

Our experts perform the following tasks:(i) Preparation of financial statements and auditing schedules, (ii) Management of Account receivables and payments, (iii) Bank reconciliations Statements, (iv) Budgeting and Cashflow projections

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