Excellence offers a wide spectrum of accounting services that answers to the financial needs of any business in the global market. Our experienced and expert accountants ensure that the financial statements are complying with International Financial Reporting Standards (IFRSs) and are committed to keep the highest level of professional standards and quality.
As per the Mandatory regulation of VAT in UAE effective from 1st January 2018 it’s a must to perform Accounting & Bookkeeping to comply with regulations:
Excellence provides the Accounting service on basis of scope of work with competitive service charges and customized solution, our services are:
- Setting up Accounting procedures as per IFRS.
- Identifying Financial Accounting Software and its Implementation e.g. Tally, QuickBooks, Sage, Peach tree etc.
- Supervising and reviewing of financial accounting records.
- Financial Reporting on periodical basis i.e. monthly, quarterly or half yearly.
- Forecasts, Budgets and Projections.
- Training and supervising accountants.
- Create comprehensive policies and procedures to streamline accounting operations.
- Maintaining Accounting books in relation to that Business, which include records of payments and receipts, purchases and sales, revenues and expenditures, and any business, including: Balance sheet and profit and loss accounts, Records of wages and salaries, Records of fixed assets, Inventory records and statements (including quantities and values) at the end of any relevant Tax Period and all records of stock-counts related to Inventory statements.
Excellence provides the bookkeeping service on basis of duration of storage and volume of documents:
Period of Record-Keeping (Bookkeeping):
1. Every business entity shall keep these records in a manner that enables the Authority, or an officer authorized by the Authority, to ascertain that Person’s Tax obligations, as follows:
- For a period of (5) years after the end of the Tax Period to which they relate in the case of a Taxable Person.
- For a period of (5) years from the end of the calendar year in which the concerned document was created in the case of non-Taxable Persons.
- For a period specified in the Tax Law for real estate records.