For small to medium-sized businesses, day to day accounting functions can take up human resources that are better spent on operations and customer service. Outsourcing this important department can free up human capital so you can better build on your business capital.
Experts Plus Group's accounting team has experience with diverse businesses in all industries and is able to create accounting methods that are logical, practical, and compliant. Whether we are entrusted with all your companies accounting and bookkeeping functions or are an additional resource for specific areas, we will work to ensure that your accounts are in good order. We will lend our expertise to the following accounting tasks:
In the last few years, we have witnessed a vast expansion of businesses in the UAE. Moreover, the legal requirement to maintain proper books of account is also becoming more important in the region. As per the UAE Commercial Company Law 2015 it is mandatory to maintain proper books of account for at least five years. In the UAE VAT law also books of account are to be maintained for 5 years.
To keep pace along with the growing economy of the country, to comply with the legal requirements and to compete with the businesses, it is sometimes difficult to manage the accounting activities of their businesses within the company especially for SMEs. Hence, accounting outsourcing services could be the best option for them to choose.
Benefits of Accounting Outsourcing Services
Experts Plus Group offers a wide spectrum of accounting services that answers to the financial needs of any business in the global market. We ensure that the financial statements are complying with International Financial Reporting Standards (IFRSs) and are committed to keep the highest level of professional standards and quality.
This segment is engaged in providing the following services:
We update the daily transactions of the company in to the accounting software and generate monthly/periodic reports for the management for decision making.
Our representative will be visiting your office on a weekly basis and update transactions. This will cover entry of all purchases, sales, receipts, payments and other business transactions including recognition of transactions on accrual basis. The system generated Management Information System (MIS) reports will be generated and discussed then and there with the management. Monthly reports will be prepared and issued to the management at the end of every month. Such reports include:
By the end of the month, we will visit to verify all purchases, sales, receipts, payments and other business transactions including recognition of transactions on accrual basis. The system generated Management Information System (MIS) reports will be prepared and discussed with the management by our executive.
In order to do the regular accounting services weekly or monthly, the administrator or the secretary in the office of the client has to maintain the basic information of the transactions happened during that period and those should be made available to verify and update.
We can support the client to update the transactions on a daily basis. It includes updating of transaction like sales, purchases, payments, receipts or reconciliation with bank statements /customers’ accounts/ suppliers accounts etc or any other requirements from the clients’ side on a full-time/part-time basis. The data has to be provided by the client through email or online portal to our executive. The periodic reports will be given to the management for such assignments we undertake.
Our executive will visit your office on periodic basis, weekly or monthly depends upon the scope of the work and time required to complete the assignment. All the data entry work has to be done by the full time accountant of the company. Our accounting supervision service will cover the following:
Sometimes the companies might not maintain proper Books of Account and reports in the same year the business transactions were happened. It happens mainly for start-ups in the SMEs (Smaller & Medium Enterprises). As per the regulations of the Commercial Company Law in the UAE, it is mandatory to maintain proper books of account. Hence, after one or two years such SMEs understand the necessity to maintain proper books of account and look for accounting firms to prepare books of account.
Experts Plus Group support the clients to prepare the books of account from the date of incorporation of the company till date. However, proper supporting documents are necessary for us to prepare the books of account. Hence it is important for us to get the original supporting documents of the transactions including sales invoices, purchase invoices, payment vouchers, receipt vouchers, petty cash expenses, bank statements, cheque counter foils, bank transfer copies, etc. Our representative will visit the company’s office location or bring the documents to our office and update transactions in a suitable accounting software. We finalize the books of account on periodic basis, normally on annual basis. The reports generated includes:
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