Bookkeeping and Accounting tasks and activities are critical to delivering overall profit and financial efficiency of the organization.They are considered to be the primary and significant tasks in the financial department of every organization.
Most organizations prefer to outsource the Accounting and Bookkeeping services for various benefits and advantages associated with the same.The professional Book-Keeping and Accountancy services provided by EBMS would enable the organizations to carry out business operations more efficiently and productively in the UAE.
We provide a wide range of services that encompasses Accounting and Bookkeeping, VAT Consultancy, Auditing, Tax Planning and Strategies that would help organizations to mitigate tax and be more profitable.
Bookkeeping and Accounting are two different tasks.Bookkeeping involves the tasks and activities involved in recording the daily financial transactions of the organization. The records are summarized at certain time intervals. The records are all saved electronically with all the latest financial software.
Accounting deals with the recording of the organization’s financial transactions with other organizations and individuals. Accounting is always considered to be one of the important pillars to run any business organization efficiently.
The Accounting and Bookkeeping tasks and activities need to be carried out in an extremely professional manner in order to run the organization efficiently and more successfully.
EBMS Business Services LLC provides exceptional Accounting and Bookkeeping Services in Dubai.
We are one of the best bookkeeping companies in Dubai. Our experts at EBMS Business Services LLC would provide a wide range of services extraordinarily. The various services are:-
We understand the hassle of running a business organization. If your organization is suffering intense pressure of clearing the messed up records that are not organized well, our experts would help you organize everything and arrange them in an orderly manner.
The best Chartered Accountants in the UAE would assist you in clearing all the hurdles and release the pressure of maintaining unclear records.
Our experts understand the importance of timely review to study the business conditions of the organization and work accordingly.
We provide monthly, quarterly and yearly reviews for much convenience of our client organization to rely on our reviews and act accordingly to carry out the further tasks and activities in the organization.
We understand the importance and value of the accurate financial statements that deliver insights about the current scenario and make effective decisions for a better future of the entire organization.
Our experts would assist you in making the most fool-proof financial statements and also ensure that your cash flow statements, income statements and balance sheets are all drafted as per the compliance to the generally accepted accounting principles (GAAP).
Our experts would help our client organizations to maintain the required statements as per the GAAP model and work more efficiently without any concern about the same.
There are chances of reporting a purchase as a capital investment if it could be used for more than a quarter reporting duration by the organization.
There are chances of reporting a purchase as a capital investment if it could be used for more than a quarter reporting duration by the organization.
Such purchases are:-
The roles and responsibilities of the bookkeeper would change as per the nature of the business whether it is the small, medium or large enterprises.
The small businesses would involve extensive work for the bookkeeper and that would also involve the following tasks and activities:-
They will have to process the invoices of the vendors
They will have to make the billing and follow-up on the receivables
They will have to process the payroll
They will have to regulate the balances
They will have to manage all the money related tasks and activities
They will have to prepare and process the adjusting entries
There are certain common types of adjusting entries. They are:-
1. Unearned Revenues, The unearned revenues or deferred revenues are received in cash and are then recorded as liabilities before being earned.
2. Accrued Revenues, The Accrued revenues are also known as accrued assets that are earned but are not officially recorded or paid.
3. Accrued Expenses, The accrued expenses are also known as accrued liabilities that are incurred but not recorded or paid.
4. Prepaid Expenses , The prepaid expenses are also known as deferred expenses that are paid on a cash basis and are further recorded as the assets of the company before being utilised.
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