Frequently Asked Questions (FAQ)
Get all of all your accounting work completed at a small fraction of cost as compared to employing a full time in-house Accountant. Clouds based accounting software and other advancements in technology have made it possible for all Companies to take benefit of outsourced accounting and bookkeeping services.
Yes. Push Digits is a registered and approved Firm for performing all kinds of tax consultancy services in any part of the UAE. We do a complete in depth research of your Company’s processes and procedures, implement appropriate structure to monitor and recognize input and output VAT, provide training to your staff for proper VAT compliance and submit accurate VAT returns at the end of every filing period.
In addition to serving as a transparent and unbiased tool to report the Financial Statements of a Company to its stakeholders such as Directors, Shareholders, Employees, Customers, Suppliers, Government and Free Zones Authorities etc, an External Audit every year is required by a lot of Companies for various reasons. These reasons for having an annual audit includes primarily, for obtaining finances from banks, for renewals of company licenses every year, for tenders’ submission and for tax audit purposes.
No. In fact you will achieve greater control on your accounting records and they will be in order, which supports you in running your business effectively. To ensure your control, we also enable you to approve & authorize transactions while leaving the administrative work to us.
In case if your accounting employees’ performance is good and you are satisfied with it, then we will suggest that you carry on with your existing accounting staff. However, if there is a single accountant who is handling all of your Company’s financial management and your Company has grown to such an extent that now it needs another set of fresh eyes, then this is the time you should consider us. Moreover, if your Company has several accounting staff in the accounts department and you wish to cut down costs of your business by outsourcing some part of your accounts team then you should consider Push Digits.
We have established several policies and procedures and have implemented measures to make sure that all of the data, network and workstations are secured. We are continuously developing and enhancing on these security practices.
Utilizing state of the art clouds technology help the Directors of the Companies in accessing important financial information anytime and anywhere. By integrating the clouds and the accounting software on internet, you can greatly improve the efficiency and effectiveness of both accounting and administrative processes which will positively impact all aspects of your business.
We use various accounting and ERP software from which we are certified and authorized, such as:
- Quickbooks
- Sage
- Zoho
- Tally. ERP 9
- Xero
- Addons and applications integrated with above accounting software to boost your business processes such as CRM integration, HR integration, Sales and Marketing integration etc
If your organization uses different accounting and ERP software, we have the required expertise and skills to work on the accounting system/ software of your choice and employ it effectively for your accounting and finance department.
Of course. To avoid large amounts of fines and penalties from the Federal Tax Authority, you should implement VAT compliant accounting software and procedures now, if not done so far, which will not only help you in reporting accurate tax returns but will also serve as a vital tool in your business decision making. Push Digits can help you implement these tax and accounting systems in your Company through our highly qualified teams which have a diversified experience in this area.
We don’t just help you with implementation, training, accounting and returns filing of your VAT. Our team believes in Due Professional Care for all of our clients which means that we will completely assist you in dealing with queries from FTA and answering them correctly on time so that you get absolute satisfaction in dealing with our VAT consultancy team.
The audit requirements of our Group Audit Firm vary according to the size of the Company and the specific need for the audit being conducted, however, following are some of the basic audit requirements:
- Legal documents of the Company such as license, articles or memorandum of association, passport copies of shareholders, share certificates, rental or tenancy agreements etc
- Trial balance, balance sheet, income statement and general ledger from the accounting system
In case you don’t have an accounting system, then our team can compile the financial information from source documents.
- Bank statements and bank reconciliations
- Supporting documents of transactions on sample basis such as invoices, bills, receipts, agreements etc
- Bank confirmations and any other third party confirmations, wherever required such as in the case of related parties, customers or suppliers
- Any other information as required during the audit
Depending on the size of the Company being audited, the audit process can take normally from two days upto two weeks. This also depends on the availability of information with the audit client.
Our Group’s Audit Firm, Nadeem and Umendra Chartered Accountants is approved and authorized by almost all the leading banks in UAE, Government Authorities and Free Zone Authorities. Our Audit Firm is also approved by Land Department and RERA (Real Estate Regulatory Agency) to conduct special audits required by these Authorities such as Projects’ Audits and Owners’ Associations Audits.
We assess and calculate each audit client’s fee separately based on various information that is requested by our special administrative team from you at the start of our conversation with you. Our team always makes sure to quote the best competitive audit fee to you to start a long term relationship which is also in line to your budgets. To know more on what will be charged to you for the audit fee, please get in touch with our team today.
Quickest turnaround time is the strength of our services, and we guarantee 24 hours response time in most cases, as we have the skills and expertise to complete enormous amount of work efficiently and accurately within smallest time frames. However, the time completion with regards to a specific project depends on various factors like project type, size, complexity and how quickly it is required by the client entity etc. Once you provide us with details related toyour requirements then we can update you with the time that will be needed to complete your assignment.
We provide services to clients established all around the world. Majority of our clients are based in UAE, GCC, Australia and Pakistan.
We provide accounting, tax and audit services to client entities established in different industries such as services, trading, manufacturing, retail and banking sectors. Our clients are consisted of all sizes from small to medium sized to big corporate companies.
Most of our clients prefer to outsource their financial, accounting, tax and audit work to Push Digits, as we provide them with number of benefits, such as:
- No infrastructural and administrative hassles
- Higher cost savings
- Flexible pricing structure
- Easy access to skilled resources
- Increased efficiency
- Transparency in operations
- Complete data confidentiality and security
- Quick turnaround time
Upon notice of termination of services, we will take the next 30 days to work with customers for handing over the complete data and information. We ensure the transition process is as smooth as possible.
You will be assigned an Accounting, Tax or Audit Partner based on your Assignment along with the support team once the Contract is signed and before the Engagement process begins. You will always have contact with one of our Team Staff along with the Engagement Partner, readily available to answer your queries.
Absolutely, we provide virtual services to all our clients through our clouds based accounting system. Teams of professionally qualified individuals are allocated to dealing with all our virtual clients.
We have analysed that the services we provide are ideal for businesses with annual revenue falling between $1 Million to $50 Million. Whether you are a small or large scale entity we can provide you quality services in the field of accounting, tax and audit.
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