Geek Numbers offers comprehensive accounting solutions in Dubai, providing tailored services to help businesses unlock their financial potential. With expertise in accounting and bookkeeping, our team ensures precision and efficiency in managing your finances. Discover how Geek Numbers can drive financial success for your business in Dubai and beyond.
With the introduction of VAT in 2018, along with the roll-out of new regulations pertinent to economic substance, the demand for accounting services in Dubai has grown considerably. In addition, Free Zones in the UAE have begun requiring businesses to submit annual audited financial statements from their chosen accounting services provider. These regulations have made it essential for businesses to maintain robust accounting and bookkeeping systems. Small and Medium-Sized Entities (SMEs) are particularly impacted by these changes.
Comprehensive Accounting Solutions in Dubai
Accounting service providers in the UAE offer an array of services that encompass the entire accounting function. Bookkeeping, a significant part of professional accounting services, includes recording, classifying, and summarising financial transactions, ultimately leading to the preparation of financial statements. The spectrum of accounting services includes:
- Accounting Reconciliation
- Financial Reporting
- Accounting Software
- International Financial Reporting Standards (IFRS)
Geek Numbers provides both on-site and off-site accounting services in Dubai, Abu Dhabi, and across the UAE. Our engagement’s scope is determined according to the level of cooperation agreed upon with our clients. For small businesses, we typically offer off-site accounting advisory services, supplemented by periodic on-site visits from our accountants. We encourage our clients to use cloud-based online accounting services, like most accounting firms in Dubai. While we work with all accounting software, we prefer QuickBooks Online, Xero, Zoho Books, Wave, Sage.
Our relationship with a client can take one of three forms:
- Fully Outsourced Accounting and Bookkeeping Services In this model, we have full access to the accounting software and manage all transactions. The client provides necessary documentation like bank statements, cashbook, purchase and sales invoices, expense bills, etc. We prepare periodic and ad hoc reports as mutually agreed upon.
- Collaborative Accounting Services in Dubai Both the client and we have access to the accounting software. The client carries out some of the work such as issuing invoices, processing payroll, uploading receipts, bills, and other documents in accounting software, among others. We review the client’s work, handle complex accounting issues, and prepare periodic reports.
- On-demand Accounting Software Support The client manages the accounting software, but our services are required for specific procedures or transactions.
Our accounting services are delivered and supervised by seasoned accountants previously associated with Big 4 Accounting firms. We ensure quality work and significant cost and time savings.
The scope of our services varies depending on the client’s business nature. However, it usually includes setting up or reviewing books of account, updating accounting records periodically, VAT accounting and return filing, monthly management reports, and general advice regarding account & finance-related matters.
Choose Geek Numbers for top-notch accounting and bookkeeping services. We cater to various industries and help businesses focus on their core tasks by managing their accounting and bookkeeping activities.
With the rigorous accounting procedures that we follow at Geek Numbers, we maintain responsibility for the validity and accuracy of all books of accounts prepared by us. We meticulously handle every task related to your business finances, ensuring all your financial dealings align with the latest regulations and standards.
We start with the initial setting up or reviewing of your books of account, an activity which is crucial at the onset of a business or in case of existing businesses that need to re-evaluate their current accounting systems and records. We examine the Chart of Accounts to ascertain its alignment with respective industry practices and reporting requirements.
Following this, we conduct periodic updating of accounting records. This encompasses a host of operations including the creation of customers and suppliers in the accounting software, recording sales invoices and receipts, supplier invoices and expenses, and petty cash transactions, among others. It also involves bank statement reconciliation with accounting records, and the recording of accruals and prepayments.
On the VAT front, we guarantee compliance with VAT requirements and also undertake the quarterly VAT return filing for your company. Our team is trained to handle complex VAT transactions and provide accurate VAT reporting.
Additionally, we prepare monthly management reports to keep you informed about your business’s financial health. While various accounting reports will be readily available in the accounting software, customised reports can be prepared as per your request.
As part of our broad scope of services, we are always available to provide general advice on accounting, finance, and corporate tax matters when needed. Our professional advice extends to corporate tax planning and understanding its impact on your business.
Why should you choose Geek Numbers? We offer Comprehensive Accounting Solutions in Dubai and a firm with a team of professional accountants providing a comprehensive range of premium accounting services. These range from the initial setup of accounting software and day-to-day bookkeeping to periodic financial reporting and analysis, accounting training, and tax planning advice. We work with a diverse range of businesses across different industries.
When you entrust your business’s accounting and bookkeeping to us, you free up your valuable time and energy, which you can then direct towards the more crucial aspects of running your business. With Geek Numbers by your side, your business’s financial matters are in expert hands.