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Accounting is the most time-consuming and basic of all the functions, but it is also one of the most important functions that a company must perform. This role can be completed by you, but if you want your business to succeed and don't want to take any chances, you should choose a firm that can offer you accounting and bookkeeping services.
Choosing an accounting and audit business in Dubai, on the other hand, is a far more complex undertaking than it appears. The accounting firm you choose will determine the company's future, and one terrible mistake on your side will ensure the company's doom.
That said, certain points must be considered by you before choosing an accounting firm in UAE.
Here are some of the crucial factors you need to consider before outsourcing accounting services.
Service charges
This is the first thing a company should think about before hiring accounting services in the UAE. The accounting firm's charges play a significant role in determining which services should be used. The company must be functioning within a budget, and the services would have to be picked by that budget. Pick a firm that allows you to choose the services you need because it will not only cost you less but also will help your business to use all the services provided.
Future Vision
Your business's strategy for the future must be evident and the actions of outsourced accounting firms must match with your company's growth. Before you choose an accounting firm, you should be clear about they can assist your business to expand and help you attain the set targets and objectives. Choose a particular firm only if they match the company's aims and are willing to work for the company's growth.
Added Perks
Apart from the necessary accounting and bookkeeping services, the outsourced firm will also provide other services such as VAT, Tax, Payroll, etc. without any extra charge. The free services are essential services that can either be added or extended as per the business requirements. If you like the extra services of the accounting firm, you can avail of the entire package of services and pay accordingly.
Specialties
Every accounting firm specializes in a specific area of accounting and provides superior services to their competitors. You must be aware of various expertise that different accounting firms carry and pick a firm that caters to your needs. This specialty could be in a specific branch of accounting, a particular industry or just the company’s current condition.
Customer support
This means how effectively the accounting firm will be able to communicate with you. It may be possible that at times, your business may require immediate consultation and guidance but the hired accounting firm may be too busy to talk or have trouble communicating with you. In such instances, your company will be unable to provide the necessary information that may lead to losses. Hence, you must pick a firm that is easily accessible at all times.
Level of service
Not all firms provide the same level of service. It is not a one-size-fits-all firm. Things will differ as per the industry and other factors. Choose a firm that is flexible to provide different levels of services. Usually, accounting firms will provide different packages based on different industries and services. Based on the type of services needed by the company, pick the specific package that is relevant to your business.
Reviews
Though a clichéd method, ask your friends or previous clients about the accounting services. They can share their experience which will help you to either avail of certain accounting firms or go for another one.
If you are an entrepreneur, you need to keep the above-mentioned factors in mind before choosing an accounting firm. Proper implementation of VAT in UAE along with proper analysis of the data, elaborate accounting records, and its reporting is necessary to prevent the company from facing any difficulties in the future.
If you are looking for accounting and bookkeeping services, call us today. We at Reyson Badger are one of the reputed chartered accountant firms in UAE that can help you with outsourced accounting and bookkeeping services in the UAE. To know more, contact us today and we will be happy to assist you.