OUTSOURCED ACCOUNTING
& BOOKKEEPING SERVICES
IN DUBAI, ABU DHABI
& THE UAE
Managing business finances is crucial yet challenging. At Creation Business Consultants, we offer tailored accounting and bookkeeping solutions designed to save you time, improve accuracy, and ensure compliance with financial regulations. By outsourcing these functions, you can focus on growing your business while we handle the complexities of financial management.
WHY OUTSOURCE YOUR ACCOUNTING AND BOOKKEEPING?
Outsourcing your accounting offers numerous benefits:
- Cost Savings: Eliminate the need for in-house staff or expensive software.
- Time Efficiency: Focus on core business activities while we manage your financials.
- Compliance: Reduce errors in VAT filings and meet local tax requirements.
- Scalability: Our services grow alongside your business needs.
OUR ACCOUNTING
AND BOOKKEEPING
SERVICES
We provide a comprehensive suite of accounting and bookkeeping services to keep your financial records organized, compliant, and up to date.
Core Services:
- Sales and Expense Management
- Issuing sales invoices from the accounting software and maintaining accurate records
- Posting of expenses, efficient recording of all purchase invoices and tracking petty cash
- Bank Reconciliation
- Processing transactions and reconciling accounts to avoid discrepancies
- Payroll Management
- Recording payroll transactions accurately and on schedule
- Monthly Financial Reporting
- Generating Profit & Loss statements, Balance Sheets, and cash flow reports for informed decision-making
- VAT Compliance and Filing
- Ensuring timely, error-free VAT submissions in line with UAE regulations
- Accrual & Prepayment Account Preparation
- Accurate preparation of accruals and prepayments, in line with IFRS or GAAP standards, for reliable financial reporting. Posting of all month end journals and adjustments.
- End-of-Year Statements and Audit Preparation
- Preparing records for audits or tax submissions to avoid delays and penalties
WHY BUSINESSES STRUGGLE
WITHOUT PROFESSIONAL
ACCOUNTING SUPPORT?
Failing to manage finances effectively can lead to significant risks:
- Compliance Risks: Errors in VAT filings or financial reporting can result in penalties and damage your business reputation.
- Cash Flow Challenges: Inaccurate financial records make it hard to monitor cash flow, leading to overspending or missed opportunities.
- Operational Inefficiency: Time spent on financial management detracts from business growth activities.
- Cost Overruns: Payroll, invoicing, or tax errors can lead to wasted resources and increased operational costs.
CLIENT SUCCESS STORIES
Small Business: Retail Store
- Challenge: A small retail store struggled with managing its daily transactions, invoices, and bank
reconciliations, which led to errors and inconsistent cash flow. - Solution: We implemented a streamlined process for issuing invoices, recording expenses, and
performing monthly bank reconciliations. This ensured the business had accurate financials and a
clearer view of its cash flow.
- Result: The store saved 15% in operational costs due to better financial visibility and improved cash
flow management.
Medium Business: Digital Marketing Agency
- Challenge: A growing digital marketing agency was struggling to keep up with VAT compliance and
monthly financial reporting. With their in-house team overwhelmed, they were at risk of missing
deadlines and facing penalties.
- Solution: Our team took over VAT filings, prepared monthly Profit & Loss statements, and ensured all
financial documentation was accurate and compliant with UAE regulations.
- Result: The agency avoided penalties and optimized tax savings, improving overall financial health by
10%.
Multinational Business: Tech Company
- Challenge: A multinational technology company was dealing with complex multi-currency
transactions and numerous subsidiaries. Their accounting system was fragmented, leading to
discrepancies and delays in financial reporting.
- Solution: We provided centralized accounting support, handling bank reconciliations, monthly
financial reports, and tax filings across multiple jurisdictions.
- Result: The company saw a 25% reduction in accounting errors and a 30% improvement in financial
reporting efficiency, allowing them to make more informed strategic decisions.
HOW CAN
CREATION BUSINESS
CONSULTANTS HELP?
We simplify accounting and bookkeeping, saving you time, reducing costs, and ensuring financial accuracy.
- Free Review: Identify gaps with a complementary accounting and bookkeeping assessment.
- Expert Guidance: Stay compliant with advice from experienced accounting professionals.
- Risk Reduction: Avoid errors and penalties with reliable, secure financial solutions.
- Focus on Growth: Let us handle the financial details so you can focus on growing your business.
Contact us today for your free review and discover how we can streamline your accounting and bookkeeping processes!
ACCOUNTING & BOOKKEEPING FAQs
Our services include issuing e-invoices, recording expenses, reconciling bank transactions, managing accruals and prepayments, posting month-end journals and adjustments, and generating financial reports. We tailor our solutions to meet your specific business needs.
As of November 1, 2024, the UAE has introduced mandatory electronic invoicing as part of an update to its VAT law. This new regulation includes Electronic Invoices and Electronic Credit Notes as official tax documents and establishes new rules for the Electronic Invoicing System.
We adhere to strict security protocols and leverage advanced, GDPR-compliant systems to safeguard your financial data. This ensures your information remains private, secure, and protected always.
Absolutely. We ensure full compliance with all local tax regulations, meticulously managing your VAT filings to guarantee accuracy and timely submissions. Our team stays up to date with the latest tax laws, minimizing the risk of penalties and ensuring your business remains fully compliant.
We provide monthly Profit & Loss (P&L) and Balance Sheet reports, with additional reports available upon request.
Yes, we manage multi-currency transactions, ensuring accurate records and compliance with international accounting standards.
We work with businesses across various sectors, from small startups to large multinational organizations.
ACCOUNTING & BOOKKEEPING MODEL
We simplify accounting and bookkeeping, ensuring financial accuracy and compliance, so you can focus on growing your business.
Expert
Consultation
Finance Review
& Strategy
Comprehensive Accounting
& Compliance