Bookkeeping 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 more
Life 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 more
Are 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 more
Is 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 more
A “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 more
Economic 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 more
Do 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 … Read more
A company should take care of its financial very well. Taxes should be filed within regular intervals of time to avoid any legal issue. VAT or Value Added Tax return is also known as the tax return is a statement which a person is entitled to submit to authority. The standard VAT returning filing period … Read more
Running a business and managing accounts is a tough task. Also, if you run a small business then it is really tough to make extra expenditure on office space, chairs, tables, lights and accounts employees. Why outsource is best? Hence, outsource accounting service for your business is the right idea. It saves your time, energy … Read more
Driven by the 4M’s, being Men, Material, Machinery and MONEY, the entity designs it way ahead. Since the inception of the business comes “n” numbers of undefined jobs and functions for the enterprise. Accounting being a pivotal function becomes vulnerable if not adequately monitored. A dedicated team of professionals enable statute compliant accounting and preparation … Read more
