Accounting & Bookkeeping FAQ

How does outsourcing accounting and bookkeeping benefit my business?

Outsourcing these functions can be cost-effective, providing you access to expert knowledge without the need for in-house staff. It ensures accuracy, saves time, and allows you to focus on core business activities, while also providing peace of mind that your finances are in expert hands.

How many years should a Mainland company in the UAE maintain its accounting records?

In the UAE, Mainland companies are required to maintain their accounting records for a minimum of five years. This period starts from the end of the financial year to which the records pertain. Proper maintenance of these records ensures compliance with UAE Federal Law and facilitates accurate financial reporting and auditing. For more detailed guidance on record-keeping requirements, please contact us

How often will I receive financial reports and updates?

Financial reports and updates are typically provided on a monthly or quarterly basis, depending on your needs and preferences. We can also accommodate custom reporting schedules based on your business requirements

What type of management reports are included with outsourcing services?

You will typically receive reports such as:

Financial Statements: Balance sheets, income statements, and cash flow statements.
Budget vs. Actual Reports: Comparing budgeted figures to actual performance.
Profitability Analysis: Insights into profit margins and cost management.
Cash Flow Reports: Analysis of cash inflows and outflows.
Custom Reports: Tailored reports based on specific business needs or KPIs.