Bookkeeping & Accounting Services Abu Dhabi | Push Digits Chartered Accountants

Bookkeeping & Accounting Services Abu Dhabi

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Farhan Aqil
CA, ACCA, CIA, M.Com, Bsc (Hons.)
Partner at Push Digits

Without a sound Accounting function in place, a Company not only makes improper business decisions but it will also pose a threat to its investors, lenders and all the stakeholders associated with the Company. At Push Digits, we make sure that the Accounting Services we provide will enable you to take timely business decisions on your journey to success.

With the introduction of VAT in UAE from January 01, 2018, it has become the most important element of a Company to maintain its accounting books and records with the best accuracy and completeness as per the regulations of VAT issued by Federal Tax Authority (FTA) of UAE. Our Accounting Team is well equipped with VAT compliant accounting and bookkeeping services. Please contact us for discussing your business requirements in detail.

Bookkeeping & Accounting Services in Abu Dhabi

An Oasis of Commerce

We are all accustomed to thinking of Abu Dhabi, and indeed, all of the United Arab Emirates, as a region which is tightly focused on the petroleum industry.  There is no doubt that this is important economic driver, however…

We need to start thinking in terms of Abu Dhabi being the capital of the nation, with an immensely strong financial sector that is home to large multinational corporations, and major regional corporations and organizations.This is a city where residents have significant buying power, where they wield great influence, where they enjoy a luxury life-style, and who affect affairs throughout the nation.

Importance of Highly Accurate Accounting

With the massive amounts of capital moving in and out of the country, as well as being exchanged among businesses, the national government has created laws and guidelines to assure that transactions are conducted transparently.  It has deemed it essential that all participants play by the same rules and, to that end,they file monthly or quarterly tax returns and present annual financial statements publicly that reflect the true value of a business, without embellishment, exaggeration, or deception.

Therefore, on a regular basis, all companies must complete their accounting, file tax returns and undergo an external and independent audit of their financial records to ensure their veracity.  For this they turn to the professional accountants, auditors, and bookkeepers at PushDigits, with our large, highly competent team, each member of which is dedicated to on-time service delivery in the role of Strategic Partner rather than just that of a service provisioner.  Our convenient offices throughout the UAE and worldwide, provide both local and international expertise, whether your business is conducted here, or in lands far away.

Cost-effective Strategy

While you could choose to deal with a lesser known firm in hopes of being economical, the truth is that you don’t have to.  Whether you need daily/weekly bookkeeping services, monthly accounting, accounts department supervision, CFO Services, or even annual external (or internal) auditing to meet legislative requirements, PushDigits is your one-stop business solution in Abu Dhabi.

It is our staff of more than 50 professionally trained accountants, dozens of service representatives, and all of our Corporate Partners that assure every account holder gets top-quality professional service, at every step through their journey. And because of the sheer number of available experts, each of whom is only required for a limited time by each customer, they can handle multiple accounts with ease and proficiency.

One well-paid expert accountant is available to do the work of many ordinary accountants, but without all of the typical idle time.  This means that we can provide a higher quality accounting service at a significantly lower cost than our competitors.

Reputation Matters

More importantly, while the words on the paper may not change much, the reputation of the chosen accountancy firm has a very strong influence on the report itself and how it is received by officials, experts, and agencies.  Remember, this is going to be judged by banks and investors to acquire financing; by government agencies to ascertain that laws have been obeyed;by potential partners with whom you wish to conduct business; and as well by all of the Free Zone Authorities.

The value of a great report cannot be overstated—yet all of your reports will benefit by any advantage you can acquire.  One of the best is gained by using the highly respected accounting firm PushDigits, whose reputation alone means that acceptance is virtually guaranteed!  Authorities know that our reports are accurate, and second to none!

Certified and Authorised

It is important to know that your reports are accurate, delivered in a timely manner, and the accounting information can be relied upon for accurately informing the company’s decision-making process.  The growth and evolution of your company depends on such things.

For this reason we are the Authorised, Certified Partners of the most popular Accounting Software, including QuickBooks™, Sage™, ZohoBooks™, Xero™, Tally.ERP 9™, and even Odoo ERP.

Now that we all have to deal with VAT, it is even more important to have powerful software which takes this into consideration.  If you don’t have any system in place yet, we will be more than happy to make recommendations that are in line with the needs of your organisation.  We can even help you migrate from a poorer system to software that makes more sense for your business.

Outsourced AccountingWhy You Should Hire Us And Why It Is Good To Know

Many companies would rather not be bothered to hire an accounting staff in this modern world where AaaS (Accounting as a Service) is available remotely.  This Back Office technique saves salaries, office space, equipment, supplies, travel expenses, visas, gratuity and more.  Better yet, it eliminates sick days, vacation pay, holidays, and numerous other expenses.

If you truly need an accountant (or a team) onsite, we can provide that, for any fixed term.  If you need us every day, on a month-by-month basis, that’s perfectly fine.  If you need us on a part-time basis, we can arrange that, too.If you need offsite staffing,our staff can visit, discuss the assignment, understand your business, pick up the documents, and then work on our own premises.

Unlike other accounting companies in Abu Dhabi, we provide customized and well suited accounting services in Abu Dhabi to ensure that our services are tailored as per clients’ needs.

Key Elements Of Our Accounting & Bookkeeping Services in the UAE

  1. Understanding your business and setting up chart of accounts
  2. Recording of sales invoices and purchase/expense bills including other business transactions
  3. Ensuring VAT is captured in all the business transactions and matches with invoices and bills so that VAT can be filed timely and accurately
  4. Knocking off sales invoices with receipts and expense bills with payments
  5. Bank Reconciliation Statement (BRS)
  6. Credit cards payments and online payments reconciliation
  7. Investigation of uncredited receipts and unpresented payments in the BRS
  8. Gratuity provision calculation as per UAE Labor Law
  9. Accounts payable and accounts receivable reconciliation
  10. General ledger reconciliation
  11. Monthly hard closing of books of accounts which includes the following:
  • All sales invoices and purchase/expense bills are booked
  • Incorrect/duplicate/cancelled invoices/bills (if applicable) are reversed
  • Month-end accruals are booked and previously booked accruals against which invoices/bills have been booked are reversed
  • Month-end deferred revenue and deferred expenses
  • Direct cost and indirect cost allocation
  • Cost of Goods Sold (COGS) account is updated
  • Adjusting entries are identified and booked
  • Debtors and creditors’ balances are thoroughly investigated to ensure they are accurate and complete
  • Allowance of doubtful accounts and uncollected accounts is booked
  • Bad debts (where applicable) are booked
  • Review of Aging of accounts receivable
  • Review of Aging of accounts payable
  • Depreciation/amortization is booked
  • Gratuity provision (as per UAE labor law) is booked
  • Discounts allowed and discounts received are booked
  • Other overhead expenses are thoroughly reviewed and booked in the books
  • And much more
  1. Preparation of monthly Financial Statements which includes the following:
  • Statement of Financial Position (Balance Sheet)
  • Statement of Comprehensive Income (P&L)
  • Statement of Changes in Shareholder Funds
  • Statement of Cashflows
  • Notes to the Accounts
  • Aged Debtors Report
  • Aged Creditors Report
  • Bank Reconciliation Report
  • Prepayments Schedule
  • Fixed Assets Schedule
  • Break-even Analysis (if requested)
  • Budget VS Actual Income & Expenses Analysis
  • Ratios Analysis
  • Other reports e.g projected cash flows report if requested
  1. Presentation of financial reports
  2. Proper filing of business records for future audits i.e financial audits, tax audits
  3. Closing the books for Annual Audit as per International Financial Reporting Standards (IFRS)
  4. Preparation of year-end audit working papers, audit schedules and reports
  5. Coordination with Auditors to compete Annual Audits
  6. Resolving all audit related queries and ensuring an unqualified audit opinion is secured from auditors
  7. Forensic investigation of accounts (where needed)
  8. And of course – Fantastic customer service

Why is it Strategically Important?

It is
No business can grow without having access to accurate, complete and reliable financial information whenever needed. Strategic business decisions are always dependent on the quality of financial information of a Company. Let us be your strategic accounting partner in the growth of your Business.

Premium Technology supported by Artificial Intelligence

Our outsourced accounting services are also supported by the latest Artificial Intelligence (AI) which can instantly identify errors and bring them to the attention of a human being.  This is a remarkable improvement over waiting for a month-end or quarterly report to find a thousand-dollar-per-day error…

You need to ask yourself: “Why would you deal with any company that is afraid to embrace the latest technology in order to give you the best possible service?”  AI is the way of the future; it is far too important to be ignored.

You’re important to us

Of course, it is more than AI alone; you’ll have a personal CPA, auditor, or bookkeeper assigned to your account that is familiar with your business model.  We have experience in every industry, sector, or service, from manufacturing, engineering, medical science, pharmaceuticals, law, entertainment, food service, and many, many more.

There will always be a competent expert available to answer your inquiries 24 hours per day, 7 days per week.  We guarantee that we will reply to any messages within 30 minutes.  In fact, our response rate is superior to what you could expect to obtain from your own staff members!

Size is Unimportant

The largest companies have to meet a standard of excellence in financial reporting that is higher than ever before.  Now it becomes the responsibility of their smaller partners, even down to tiny businesses which supply essential services and goods, to meet the same standards.  The larger companies cannot compromise their reputation by dealing with less stringent small businesses.

Without compliance, large companies will be forced to drop non-compliant smaller businesses from their supply-chain.  This is closely paralleled in the United States by the Walmart super-giant retailer, obliging small companies to meet their standards.  Those that failed to do so were removed, lost huge amounts of revenue, and some went completely out of business.

It’s not malice, of course, but common business sense.  A chain is only as strong as its weakest link, so you attempt to make sure every single one is reliable.  The good news is that PushDigits is accessible and affordable for all, letting you meet those standards, at a lower cost than doing it on your own.  We promise the best prevailing pricing in the Abu Dhabi market, guaranteed!

Better yet, our diverse crew has international experience that can answer your questions about how to conduct business with any country in the world, from Free Trade Zones, to international Tax Reciprocity Agreements.  That is not something you can expect from your own in-house accountants.

The Takeaway

There are a lot of choices available to you for your bookkeeping and accounting needs.  You should be aware that very few can offer the decades of experience provided by PushDigits, or the economy and efficiency of online accounting.  We support you because we want you to succeed.  We provide the knowledge and experience to help you to meet the legal requirements for a properly run business. Our exceptional bookkeeping services in Abu Dhabi will not only be helpful for you as a business but will also drastically reduce your operating expenses. Not only in Abu Dhabi, we also provide bookkeeping services in Dubai and other states of the UAE.

We would love to hear from you and share the many ways that we can improve your financial reporting process.  Please feel free to start a conversation with us today—we look forward to getting to know you and helping you build your business!

Top 10 Frequently Asked Questions

Of course you have questions, and a comprehensive Q&A list can be found here, but the most popular ones are conveniently located below.

Absolutely not!  At PushDigits we are solving a long-standing problem.  The business world welcomes thousands of new businesses every year.  Unfortunately that means companies are having trouble locating local accountants to manage their evolving needs. 

The industry is over-capacity, straining to meet the needs of new business.  And sadly, our education system tells young people to focus on technology sciences.  As a result, few recognise the value of an accounting career, which is why they are so hard to find.

Honestly, on a typical day, you won’t even see your own accountants—modern consultations occur by e-mail, not face-to-face.  That means new companies never even set up traditional analogue bookkeeping.  There is so much vital information available through technology that yesterday’s manual, on-site solutions no longer make sense.

At PushDigits we provide all the capabilities of an accounting department 24/7/365, but at a 75% cost saving.  There is absolutely no reason why it must come with expenses like salaries, business equipment, rental space, parking spots, visa & immigration fees, air travel, and all those other seldom considered costs.

We have over 20 fully-qualified Accountants, as well as 3 Partners and 2 Managers, that have more diverse talents and international knowledge than any single accounting department could ever muster.  As the accounting needs of business change, PushDigits is here for you to make that transition as easy as possible.

There simply aren’t enough people to hire!  Modern graduates look for careers in computing, 3D-printing, and other jobs they perceive as vital.  Very few look to accounting because it is so “ordinary” to them.  The result is a tremendous shortage of qualified professionals.

PushDigits is a very large firm, with a large stable of accounting experts, so we can provide necessary services to thousands of clients.  We are filling the void left by too few accounting graduates to meet the needs of business.

The reason companies choose us is for our flexible pricing and the amazing cost savings, eliminating infrastructure & administrative hassles, enhanced efficiency, proven data confidentiality & security, our fast turnaround time, access to our skilled service providers, and the complete transparency of operations.  Don’t worry—you’ll love us, too!

Our customers are from all over the business spectrum, including e-commerce, consulting, manufacturing, real estate, investment services, owners associations,marketing, petroleum, banking, consulting services, and many more.

As to size, our clients range from small to medium sized businesses, all the way up to big corporations with revenues up to $50 million or more.  Don’t worry—we have experience dealing with businesses of every size!

Expertise, that would not ordinarily be available, is found at PushDigits because our experts come from every continent, bringing knowledge from every conceivable accounting experience.  Give us your toughest questions, and we already know the answers.

We know all the local laws, of course, but if you conduct international business (or wish to) you’ll need to know how the laws and regulations differ from those you’re accustomed to.  We know it all!

Your data is kept on secured servers and protected by procedures and security policies designed specifically to make sure that workstations are impenetrable, the network is proof against hackers, and that your data always remains in a protected environment.  Whenever information is being transferred it is always thoroughly encrypted so that even if it were intercepted it would be completely useless to anyone else.

No, because of the “economies of scale”, we can confidently predict that your costs will be 75% less than maintaining your own accountancy department.  You will eliminate all of the salaries, vacation pay, insurance, benefits, as well as office space, equipment, and supplies.  In addition you get 24/7 service, every day of the year, so it doesn’t matter what time zone you are in.

Of course!  Depending on your needs and schedule, we can bring enormous resources to bear on any project or problem.  We deliver on time, every time!  And best of all, your work is always handled by a professional accounting expert, not a first year graduate!  Quality and accuracy is always a first priority.

Simple!  We can arrange a complete handover in just seven business days, and we’ll make the transition process as smooth as possible.  Essentially, from your point of view, nothing changes.  You’ll continue to use the provided software, entering your daily data, recording receipts and all the other day-to-day functions for your business.  Just be prepared for the increased demands on your time, or a substantial price increase, if you hand it over to a local accountant.

Absolutely!  All of our accountants and auditors are trained and/or certified by international professional associations such as ACCA (Association of Chartered Certified Accountants), CPA (Institute of Certified Public Accountants), ICAP (Institute of Chartered Accountants of Pakistan), ICAI (Institute of Chartered Accountants of India), CIA (Institute of Internal Auditors), and the IRCA (International Register of Certified Auditors).  They all follow the stringent standards of important organisations such as the ACFE (Association of Certified Fraud Examiners), too.

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