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professional bookkeepers in dubai
Post By: admin October 03 2019

Why You Need a Professional Bookkeeper to Run a Business in UAE

                                                   “Time is Money”
What is Bookkeeping?

Bookkeeping is the methodical recording of financial facets of business transactions in opposite books of account. Bookkeeping helps to uphold precise financial records of a business by keeping a proper record of the purchases, sales, and receipts. 

Read more to understand more about why you need a professional bookkeeper in UAE to run a business.

What is the Purpose of bookkeeping?

The primary purpose of bookkeeping is to keep an entire and exact documentation of all the pecuniary operations in an arranged and organized mode. A book of account reflects the fiscal upshots of these operations or transactions.

Why you should hire a Bookkeeper for your business    

The following points will help you understand the necessity of hiring a bookkeeper for your business. 

a) You obtain a diverse discernment of the business 

You will have a better understanding of the status of your business and its advancement. Still, a bookkeeper can help you approach your business with a different viewpoint and work as a third eye to put into your notice the hidden areas where you lack, the present monetary status, the development you make every month, etc.

b) Make sure timely payment 

Your busy roster may often end up in not paying your bills on time. If you are tardy or overlook to make a payment, it will affect your goodwill. A bookkeeper can guarantee that your bills are paid in time and thus, save your money and time.

c) Remain your spotlight on mainstay business needs. 

A start-up needs the attention of its founder to grow the idea into a viable product or service. As the prime mover, your focus should be on the principal needs of your business such as financial support, promotion, etc. A bookkeeper can help you remain your attention to these mainstay business needs. 


d) Break out the monotonous aspects of the business

Sometime, you may lose your fervour in some of the pecuniary areas of your business like writing checks or computing the pay list because of one or the other reason.  When you go through such monotonous aspects, it will be sensible to hand over these tasks to a bookkeeper who does them in a better way and brings you back to the mainstream. 


e) Be away from what you don’t really know or understand. 

The organizers may not have backgrounds in finance or working knowledge of accounts payable, accounts receivable and taxes. Hence, a professional bookkeeper would be a better advantage for them to move forward as there will be fewer mistakes and less expenditure.


f) Keep up cash flow

In your busy schedule, you may not realize that there are outstanding payments from your client base. Such serious mistakes will contravene the cash flow and put you in trouble. Your bookkeeper can remind you about this break and make sure your cash flow remains steady and stable. 


g) Standardize a work-life balance. 

When you focus on your core business needs and handle everything yourself, you’ll not have enough time for yourself or your family. Consequently, you may miss that balance every person needs to stay healthy and not burn out on what you are doing.

h) Trim down the cost of financial obligations.

A professional bookkeeper actually saves you more, though you think you save the money. He can reduce the risk level of human slip-up, deficiency in knowledge, payment failures, etc., and bring you a serene mind.


i) Guarantee correct tax filings. 

Depending on the type of business structure you’ve created for your start-up, you will have different tax requirements, including estimated tax payments, corporate tax payments, and other filings. More possibility is there that you forgot those quarterly or annual tax filings. So, it’s wise and sensible to find a bookkeeper who can handle taxes as well as the payroll and other financial issues in time.

j) Resolve disagreements of interest with any business partners. 

The more heads, the more possibility for conflicts when it comes to the financial aspects and decision making. This would encumber the progress of your start-up.
A bookkeeper can create the necessary approval processes that stop partners from withdrawing money or making decisions.

Services Provided by Bookkeepers

Daily Bookkeeping will enable you to identify any problems early and solve them before they become worse. You can identify any deceitful activity and correct it before it causes irreparable damage to your business. A bookkeeping service firm provides the following services:

  • Settle bank accounts.
  • Account economic dealings.
  • Administer bank feeds.
  • Organize financial accounts.
  • Control accounts receivable & payable.
  • Undertake some payroll and human resource functions.
  • Work with the tax preparer and help out with tax compliance.
  • Preparation of Chart of Accounts
  • Billing for services or goods sold
  • Keeping the records of receipts from customers
  • Allocate the account entries
  • Value-added bookkeeping and month-end or year-end closing
  • How does bookkeeping services help a business?
  • Bookkeeping is a tool used by management to analyze business performance. 
  • The followings are some of the Bookkeeping services that help a business to flourish:
  • Preparation of Chart of Accounts
  • Billing for services or goods sold
  • Keeping the records of receipts from customers
  • To verify and record invoices from suppliers
  • To Deal out employees' payment and the related governmental reports
  • To Record depreciation and other adjusting entries
  • To make the entry for the Bank Details
  • To allocate the account entries
  • Value-added bookkeeping and month-end or year-end closing

CDA’s role in Bookkeeping in UAE

CDA Accounting and Book Keeping Services LLC Dubai, UAE is a dyed-in-the-wool squadron and an efficient Accounting Machine. Our Professionals lead Accounting and Bookkeeping services and transform your finance function. We not only maintain your accounting, but also provide a dais to drive profits, improve cash flow, and grow your business. Our clients stay in peace of mind as we assure efficiency and actionable financial astuteness they need to succeed. We also offer Financial Advisory Services, Tax Consulting Services, Management Consulting Services, Company Registration for VAT in UAE, Internal Audit For Company, Business Advisory Services, etc., in UAE.

Do contact us to start a discussion as our experts will offer you a one-hour free consultation on bookkeeping or any other related issues.