Yes. All companies must maintain proper financial records and accounting books for a minimum of five to seven years to comply with UAE Commercial Law and FTA requirements for VAT and Corporate Tax.

We strongly recommend monthly bookkeeping. This guarantees your financials are real-time, ensures immediate reconciliation, and prevents costly backlog and compliance issues during quarterly VAT filing.

The timeline depends on complexity and volume (e.g., months vs. years of missing data). We start with a Gap Analysis and aim for a fast resolution, prioritizing compliance filings (VAT) first, typically resolving small backlogs in 4-8 weeks.

It means your books are maintained to IFRS standards with every transaction verifiable by a source document, a clean audit trail, and fully reconciled accounts (bank, AR/AP), allowing your annual audit to pass swiftly.

Cloud systems (Xero, QuickBooks, Zoho) are crucial because they automate VAT calculations, provide real-time reporting, and offer a secure, digital audit trail, which minimizes human error and is preferred by the FTA.

Yes. Reputable providers like Xero and QuickBooks use bank-level encryption and global servers, offering far more security, automated backups, and fraud monitoring than a typical local desktop or in-house server.

It is the process of matching your General Ledger to your bank statement. It is vital for SMEs to detect fraud (unauthorized transactions), correct accounting errors, and verify the accurate cash position required for liquidity management.

Banks typically require the last 6-12 months of Bank Statements, IFRS-compliant Financial Statements (Balance Sheet, Income Statement, Cash Flow Statement), and sometimes custom AUP Reports (Agreed Upon Procedures) for specific account verification.

AR is managing customer invoices and collections (cash inflow). AP is managing supplier bills and scheduled payments (cash outflow). We optimize both to maximize your Cash Flow and reduce DSO (Days Sales Outstanding).

The most common and preferred method in the UAE (IFRS-compliant) is FIFO (First-In, First-Out), which generally provides a more accurate representation of ending inventory value on the Balance Sheet.

Yes. For Dubai's trade-focused market, we set up Multi-Currency tracking in cloud software to accurately record transactions in foreign currency, manage exchange rate fluctuations, and calculate FX Gains/Losses.

COGS is the direct cost of inventory sold (materials, labor, production overhead). Accuracy is crucial because it directly impacts your Gross Profit (Revenue - COGS) and ultimately reduces your Corporate Taxable Income.

While possible for very small, simple entities, spreadsheets are highly prone to error, lack an auditable trail, and cannot automate VAT/CT calculations, making them unsuitable for any growing, compliant business.

Yes, our service includes strategic financial advice, budgeting, cash flow forecasting, KPI tracking, and liaising with external auditors—providing high-level financial guidance typical of a Virtual CFO.

You must keep all original source documents: invoices (sales & purchases), bank statements, contracts, VAT returns, CT returns, and general ledger entries. These must be digitally archived and instantly retrievable.

We automate payroll processing and generate the mandatory Salary Information File (SIF) in the exact format required by MOHRE, ensuring timely salary transfers and compliance with the WPS system to avoid fines.