Companies that are registered in the UAE, whether they are registered and operating in a free zone or registered onshore are mandated to keep proper accounting books, prepare and file annual audited financial statements. Offshore companies are also obligated to keep their financial records as it is now considered a violation for companies, falling in default of keeping sufficient financial records to show and explain the company’s transactions and determine with reasonable accuracy their financial position.
Elnaggar & Partners are equipped and ensure the expertise to provide such services. Our qualified and experienced team of accountants provide exhaustive accounting services tailored to each company’s needs. Listed below are the services we provide:
Accounting & Bookkeeping Services
being currently managing bookkeeping services for a variety of clients. We tailor our services based on your company's activity and requirements. Our bookkeeping services include the following:
- Setting up of the accounting system
- Setting up of Chart of Accounts
- Recording of all business transactions in accordance with IFRS
- Recording of business transactions (sales, purchases, journals, etc.) as per Accounting Principles
- Allocation of payments & receipts to match invoices
- Sorting and matching receipts & payments with bank statements
- Fixed Assets Schedule
- Bank Reconciliation and Accounting/General ledger reconciliations
- Co-ordination with Auditor for Financial Statements Audit
- Preparation of year-end audit schedules and reports
- Preparation of year-end working papers, reconciling balance sheet items, posting of adjusting entries, year-end accruals, allowance for doubtful debts, etc. to ensure quick completion of the audit
- Comprehensive Financial Reports (operational & financial ratios)
- Any other report on request i.e. projected cash flows report
Outsourcing financial services and reports can save your business a lot of time and costs. Entrust us to handle your Accounting, Payroll and Taxes while you focus on the commercial side of your business
Overall, Elnaggar & Partners goal is to provide reliable, professional, and personalized accounting and bookkeeping services to support our clients' financial success and ease of business. For any service inquiries, feel free to reach out at info@elnaggarlegal.com or book a consultation to speak with our legal experts.
