Not just your payroll and taxes. Your accountant can do many other tasks than this. One good reason to hire an accountant is your company's growth. From planning to start up a company to executing it, from applying for loan to approvals, your steps get easier with your accountant. It doesn't mean to hire a...
Read MoreBookkeeping is the process of detailed recording of financial transactions of any business establishment. Accounting ranges wider than Bookkeeping. Accounting is a system in which a financial information of a company is classified, recorded, analyzed, summarized, and reported. Bookkeeping and accounting are entirely different in terms of their purposes. Bookkeeping or so-called recordkeeping is a...
Read MoreLife of a small business owner is no less than a juggler. As a business owner we must juggle multiple priorities - bring in business, take care of the bills, follow-up on payment to name a few. We are also the manager of our business. Accounts unfortunately gets left behind, especially if you are not...
Read MoreIf you want to sell your business or you want some loans from the bank, valuation your business is absolutely important. So, what does a valuation report mean? What are the important contents of a valuation report? What are the methods to evaluate a business? I will try to answer all of these questions below....
Read MoreAre you afraid of numbers? Do you freak out with accounts? Don’t worry we are here to help you with numbers and accounts. Here are some start-up accounting guides which all business owners should consider. Business Bank Account As you start-up business, as a thumb rule, open a separate business bank account. Avoid any personal...
Read MoreStarted a new venture? Wondering which accounting software to use? There are definite advantages of using Wave as an accounting software. In this blog I am going to explain the advantages and disadvantages of using Wave as your accounting software. [caption id="attachment_978" align="alignnone" width="240"] Wave as accounting Software[/caption] Wave vs Excel: You...
Read MoreIs your Company Economic Substance compliant? Did you do a Economic Substance test? We would include a list of questionnaire that will help you to understand whether or not your Company falls under the scope of Economic Substance Regulations in the UAE. For further assitance we at Beyond Numbers are happy to help you. First...
Read MoreA “Distribution and Service Centre” Business for ESR refers to two distinct activities that are covered under one “Relevant Activity” heading. A Licensee is considered engaged in a “Distribution Business” if the Licensee purchases raw materials or finished products from a foreign group company, and distributes those raw materials or finished goods. A Licensee is...
Read MoreEconomic Substance Regulations is another compliance requirement from the UAE Government. All business entities in UAE need to notify the government whether their business category falls under ESR. The European Union and Organisation for Economic Co-operation and Development (OECD) insists on having a firm ESR to avoid all forms of tax evasion on a global...
Read MoreDo VAT puzzle you? Here is all you need to Know about VAT in UAE: What is VAT in UAE: VAT was introduced by UAE on first of January 1, 2018. VAT is value added tax which is 5% in general but there are zero rated exempted and out of scope which will be discussed...
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