Imagine you have got with success established your dream business in an exceedingly national or international market. currently, your business can enter into multiple transactions each single day It’s out of the question to remember all these transactions, however, there is a way to manage them, and that’s where bookkeeping comes into the picture. Bookkeeping is the method of recording day-to-day transactions that take place in a business entity after its incorporation.
It’s usually misunderstood with the term ‘accounting’ to be the same as ‘bookkeeping. Bookkeeping is an accounting tool that builds the foundation of accounting by building and maintaining business records whereas accounting, on the other hand, is a much broader concept and it analyzes these records.
Method and Need of Bookkeeping Services for Business.
The popular method of bookkeeping is the double-entry, Double-entry is a system of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account. The double-entry has two (2) equal and corresponding sides referred to as debit and credit. The left-hand side is debit and the right-hand side is credit. The total debit side should be equal to the total of the credit side.
As we’ve, bookkeeping refers to the maintenance of daily business records. Let’s see why this is often essential for any business.
- Bookkeeping facilitates the cycle of organization review.
- It is essential for future budgeting and decision-making
- It helps to reduce any Fraud
- It helps in the preparation of financial statements
- It provides an easy understanding of Cash Flows.
Benefits & Attraction
- No Hiring Cost
- Ensure Professionalism
- 100% Confidentiality
- 100% Customer Satisfactions
Bookkeeping Services for Small Business
Establishing a business involves tasks on multiple levels each passing day. It becomes hard for the entrepreneurs to keep an eye on everything, but then again it becomes essential to keep on them. These bookkeeping services don’t seem to be confined to the size of a Company. Keeping this in mind, the tech industry has developed a customized software system for small companies to ease the method of maintaining books. To help you understand this tech-dealing, AABS come into the picture and help you out handling them so that you can concentrate on the business growth only.
Bookkeeping Services in Dubai
Dubai is on the approach of remodeling itself as a business hub. Dubai is focusing to become the world’s largest business hub. A lot of the company’s evolution takes place, the demand for bookkeeping and accounting services in Dubai goes up. This increases the number of bookkeeping consultants in the Emirate. Under UAE Law, it’s obligatory for all the business entities got to adhere to the accounting rules and regulations as per International Financial Reporting Standards (IFRS).
AABS - Bookkeeping Services
Agoora Accounting & Bookkeeping Services (AABS), is a leading bookkeeping and accounting firms in Dubai, provides a broad range of bookkeeping services considering a entire view of business types. we tend to deal from the initial to the advanced bookkeeping services. A number of these services include:
Evaluation of Bookkeeping at AABS
A business entity incorporates a mandated rule to follow the bookkeeping and accounting service in line with law. Now, at one point it becomes a necessity to evaluate these recordings supported certain parameters for any organization therefore on understand the level of their performance and stability.
We at, Agoora Accounting & accounting Services (AABS), evaluate the bookkeeping services on the premise of cost, revenue and expense, payroll, tax service, software system to maintain the book of records by the business entity.
Frequently Asked Questions (FAQs)
Q: What is the difference between bookkeeping and accounting?
Bookkeeping refers to the recording of financial transactions whereas accounting is the periodic processing of these records for various business purposes like reporting, budgeting, strategy and planning. In a way, bookkeeping is a prerequisite to accounting.
Q: Why Outsource Your Bookkeeping with AABS?
It’s a tough and complicated method to manage a book of accounts once it involves international business. At now, outsourcing accountancy services prove to be a relief. Whether or not you're initiating your startup or have a longtime business and need to structure or re-structure the accounts and finance domain, you'll be able to count on us.
At AABS, we tend to understand your business and deliver customized solutions in keeping with your business needs. Our business consultants take care of your monetary front, builds specific plans to boost your business growth. To initiate your first step, do contact us – we would be happy to help you.