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Accounting is the systematic and comprehensive recording of financial transactions of the company business.

Accounting also refers to the process of summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. Since 2018, the UAE Commercial Company mandates maintaining proper account books for at least five years is a legal requirement.

Accounting and Bookkeeping are vital elements of an organization that help keep track of Company income and expenses.

Shield Services has been leading accounting companies’ offering a wide range of Financial & accounting services for our clients in the global market complying with International Financial Reporting Standards (IFRS).

We help to maintain the highest level of professional standards and quality. When your business expands, you can think about hiring professional and affordable bookkeeping services all over UAE.

The bookkeeping business services offered by qualified bookkeepers help you to avoid overwhelming and time-consuming responsibilities like records of the individual financial transactions, taking care of legal authorities, taxation, and much more.

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  • Setup of the accounting system
  • Setting up of Chart of Accounts
  • Recording of business transactions (sales, purchases, journals, etc.) as per Accounting Principals
  • Allocation of payments & receipts to match invoices
  • Sorting and matching receipts & payments with credit cards and bank statements
  • Bank reconciliation statement
  • 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 accrualsallowance for doubtful debtsetc. to ensure quick completion of the audit
  • Budgeting and forecasting
  • Extraction of monthly Management Reports
  • Extraction of the monthly income statement and balance sheet
  • Extraction of monthly expenses report
  • General Ledger Reconciliations
  • Comprehensive Financial Reports (operational & financial ratios and many others)
  • Data file backup and storage
  • Bank-level security
  • Gratuity calculation as per UAE labour laws
  • Presentation of Weekly Bank reconciliation Statement
  • Set Up Payroll System
  • Reviewing and processing payroll
  • Accounts payables reconciliations
  • Accounts receivables reconciliations
  • Aged Receivables Management (debtors)
  • Aged Payables Management (creditors)
  • Monthly review of your accounts by a professionally qualified Partner
  • Monthly presentation of accounts to help you better understand your business
  • Reconciliation of any end of year amendments required by external auditors
  • Monthly Management Report highlighting the critical areas of improvement, including areas to improve business efficiency
  • Co-ordination with Accountant (in case of a partially outsourced bookkeeping service)
  • Break-even Analysis (if requested)
  • Ratios Analysis
  • Any other report on request e.g. projected cash flows report
  • And of course, Fantastic customer support

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  • Payroll support 
  • MIS reporting 
  • Accounting supervision services 
  • Complete bookkeeping services based on IFRS 
  • Manage the complete external audit process 
  • Accounting, Bookkeeping Services 
  • Setting- up accounting systems 
  • Financial statement preparation as per IFRS 

[/vc_column_text][vc_empty_space][vc_custom_heading text=”Benefits of Outsourcing to Shield Services” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_empty_space][vc_column_text]At the core of our accounting outsource services lies the concept of adapting perfectly to each client’s needs.  Once we accomplish this, it yields the following benefits for our clients.

Cost-Effectiveness

  • We charge a minimal monthly fee, guaranteed to be the best prevailing price in the market.  We offer:
  • Best competitive monthly price;
  • No full-time accountants’ salaries;
  • No housing or transit costs;
  • No visa costs;
  • No vacation leaves (available 24/7/365);
  • No pay raises;
  • No air flight tickets;
  • No gratuities;
  • No overtime;
  • No training costs; and
  • Easy transfer to another Professional Accountant, if required.

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Access to Expert Knowledge

We provide professionally qualified accountants who have experience working across diverse industries and sectors.  A dedicated Accounting Partner is also available to offer technical support whenever required.  As a result, you get access to a pool of superb accounting knowledge–at an unbeatable price–and an unmatched level of expertise.[/vc_column_text][vc_empty_space][vc_column_text]

Long Term Affiliation

We stand by our commitment to you and building an enduring relationship of uninterrupted accounting service all over the UAE.  This assures that your records are kept up-to-date and completely accurate for the duration of our business relationship.[/vc_column_text][vc_empty_space][vc_column_text]

Satisfied Customers

We don’t just sell words—we provide result-oriented services for accounts outsourcing in the region!  That is why we are proud to have achieved 100% client satisfaction.  

It is also why we have an outstanding client retention record, making us the market leader.  See our Testimonial page and enjoy what our customers have to say about our great service.  We would love to have your story, too![/vc_column_text][vc_empty_space][vc_column_text]

Satisfied Customers

We don’t just sell words—we provide result-oriented services for accounts outsourcing in the region!  That is why we are proud to have achieved 100% client satisfaction.  

It is also why we have an outstanding client retention record, making us the market leader.  See our Testimonial page and enjoy what our customers have to say about our great service.  We would love to have your story, too!

Of course, there is more to accounts outsourcing services than just reconciling ledgers!  Visit our office for a coffee, and let us showcase our diverse offerings, including our unique selection of key elements that you won’t find anywhere else![/vc_column_text][vc_empty_space][vc_column_text]

We Make It Work for You

We provide accounts outsourcing services; we also help set up the most widely used accounting software such as Zoho Books, Xero, Tally.ERP 9, QuickBooks and Sage.  

We are Authorized and Certified Partners with all of these premium accounting software distributors. Our team members who work on your accounting job are also experts on installing, training and customising these packages to ensure they meet your business needs.

Our price for these accounting software packages is unbeatable.  As Authorized Partners and Distributors, we deliver the maximum value for our clients by providing premium accounting service packages at a reasonable, economical cost.[/vc_column_text][vc_empty_space][vc_column_text]

The Takeaway

Our clients always experience high trust and confidence levels with our outsourced financial services due to the excellent level of coordination and commitment.  

This is further enhanced by our CEO and Partners’ involvement in the clients’ operational accounting work.  Our customers come from diverse backgrounds and numerous industries, which is why they rely on our expert accounting knowledge gained from working in these industries.

In the end, we are the only real choice when you seek expertise, experience, and economy all in the same place.  Please speak to us today, and let us get you on the way to improved financial reporting.

We would love to speak to you and find the best way to serve you and your company’s accounting needs!

We believe that our unique approach to customized services is unmatched by any other Firm.  We care about you and your business because we believe that when your business succeeds, our business succeeds, too—and that is the hallmark of a mutually beneficial, long-term relationship.

[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row css=”.vc_custom_1598043412646{margin-top: 50px !important;}”][vc_column][vc_column_text][/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_tta_accordion spacing=”10″ active_section=”1″ title=”FAQ”][vc_tta_section title=”What is Value Added Tax VAT in the UAE?” tab_id=”1571711424231-e1e24671-1a23″][vc_column_text]Value Added Tax (or VAT) is a type of indirect tax applied on all kinds of commodities and services in the UAE. VAT is also known as consumption tax and is charged throughout the supply chain; nevertheless, the eventual cost is borne by consumers.

The buyer will be eligible for such tax as input credit and set off from output tax liability. It is the ultimate consumer who bears the final tax liability as he will not be able to get set off such tax. In the UAE, VAT is a charge of 5% on all the country’s products and service. However, few welfare organizations have an exemption.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Will implementation of VAT in the UAE be productive to businesses?” tab_id=”1571711424244-8d396e2d-075c”][vc_column_text]Yes, the implementation of VAT in the UAE will be productive for businesses. The UAE implemented VAT to provide citizens and residents with advanced public infrastructure and interests. Apart from the government budget, VAT will generate a new income source towards these public welfare expenses. Businesses in the UAE can expect prolific growth as the country grows with these extensions and developments.[/vc_column_text][/vc_tta_section][vc_tta_section title=”When did VAT come into effect?” tab_id=”1571711447107-7e619833-db26″][vc_column_text]VAT or Value Added Tax came into effect from 1 January 2018.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Do all companies need to get VAT registration in the UAE?” tab_id=”1571711448366-7a9f337e-76ab”][vc_column_text]Companies whose taxable products, services, imports and exports exceed the threshold of AED 375,000 annually need to get VAT registration in UAE mandatorily. A business may opt to register for VAT voluntarily if their products, services, imports and exports are less than the mandatory registration threshold but exceed the voluntary registration threshold of AED 187,500.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Are businesses liable to keep an account of VAT & finances?” tab_id=”1571711449453-8bbbc74d-c375″][vc_column_text]Yes, businesses will be liable to maintain the book of accounts for their business profits, incomes and costs. Companies will also have to document charges related to Value Added Tax separately. Along with maintaining financial records, commercial organizations would also take assistance from accounting and auditing firms in UAE.[/vc_column_text][/vc_tta_section][vc_tta_section title=”How to register for VAT tax?” tab_id=”1571711450580-6a40c3e1-6e22″][vc_column_text]Companies and businesses can register for VAT tax through the e-services section on the FTA online portal (https://eservices.tax.gov.ae/). However, they need to create an account and obtain a TRN number. Companies would also require a series of documentations.[/vc_column_text][/vc_tta_section][vc_tta_section title=”How are businesses projected to manage excise tax in UAE?” tab_id=”1571712195999-5316974b-5008″][vc_column_text]Businesses and companies involved in excisable goods need to –
1) Ensure resources and systems are in place to effectively managing excise tax;
2) Maintain accurate, complete and readable excise tax records;
3) Submitting excise tax returns as specified by the taxation authorities;
4) Comply with the inventory and movement control system;
5) Keep customs and transport documents as well as all the relevant documents related to the transaction.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”10471″][/vc_column][/vc_row]

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    Shield Services is distinguished as one of the leading Accounting and Tax Consultancy in UAE.