Accounting Outsourcing Service

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The Core of your Accounting System is proper data entry, recognition, and presentation. We make sure that all of your data gets recorded correctly and on time including invoices, bills, expenses, and deposits.
Keeping your company’s finances well-tracked and accurate is where an experienced accounting firm like Flying Colour Tax can lend a hand for outsourced accounting services in Dubai.

WHY OUTSOURCED ACCOUNTING SERVICES WITH US?

• Team of Professional Chartered Accountant
• Affordable and Trusted Services
• Data Security
• Commitment for Quality Services
• Easy Availability
• Error Free Accounting
  

  SERVICES OFFERS:

• Accounting & Bookkeeping Services
• Management Accounts
• VAT & Tax Return Preparation
• Payrolls Services
• Manage Accounts Receivable and Accounts Payable
• Financial Reporting and Analysis

WHAT IS ACCOUNTING OUTSOURCING?

Outsourcing is hiring another organization outside of your own to manage various business-related processes and activities. This is done instead of using a dedicated in-house team.
Outsourced accounting is basically providing a full accounting department experience. Especially for small and medium-sized businesses so they benefit from professional expertise without substantially increasing overhead.
Nowadays, in a world where all businesses are under increasing pressure to reduce cost and increase performance, outsourced bookkeeping is becoming more and more a strategic choice.

WHY DO COMPANIES OUTSOURCE THEIR BOOKKEEPING?

Every company is different and knows best when it’s time to move their accounting to an outsourced company. Still, there are some more common reasons for doing this.

• Cash-Flow Advice: An outsourced accounting firm can give solutions to improve overall cash flow management and prepare you to solve cash flow problems before they happen in the future.
• Cost Control: Outsourcing Accounting can help businesses predict future costs and revenues, and check for compliance with financial regulations. It can help a business to avoid the risk and costs of hiring more employees and to gain access to outside expertise.
• Meeting Compliance Requirements: Accounting experts are up-to-date on all the latest regulatory requirements. They are attuned to what is happening across the industry and carefully monitor relevant laws and regulations to stay current on processes.
• Preparing for Tax season: When your finances are maintained consistently throughout the year by an outsourced accounting service, it will prepare you for smooth filing of the taxes.
• Increase controls & reduce fraud: If most of the business’s Accounting functions are in the hands of one or two people, your business is at a greater risk of experiencing fraud. Hiring a third-party reduces this risk and allows for greater internal controls and the professionals will be able to identify where there are flagging errors and notifying you of any inconsistencies.
• Streamline your operations: Rather than chasing after unpaid invoices or manually issuing checks, you can automate these processes so you don’t have to think about them. This eventually helps you streamline your operations and gives you time to focus on other important things.
• Avoid Tax Penalties: An outsourced accounting firm can help an organization to avoid tax penalties. The rules regarding the filing of tax and preparation are updated from time to time so it becomes necessary to keep a track of all the changes made to these policies.

Our Deliverables:

• Balance Sheet
• Profit and Loss Statement
• Trial Balance
• Cash Flow Statement
• Bank Reconciliation Statement
• Reconciliation of Accounts
• Ledger Reconciliation with Vendors & Buyers
• Accounts Receivable management
• Accounts Payable management
• Bank Reconciliation
• Recording and Reconciling Payroll
• Daily Sales Reconciliation
• General Ledger Accounting
• Journal Accounting Entry