We stand above the top bookkeeping and accounting firms in Dubai
N R Doshi & Partners is one of the bookkeeping and accounting firms in Dubai, whose target is to provide cost-effective business solutions to all its clients. Our financial planning is designed according to your business model, which would help your business to grow exponentially.
As we own the title of one of the best accounting firms, we make sure that our financial advisor team consists of an experienced financial analyst and financial consultant. We assist businesses in handling their accounts and finance so that they can lower down their burden to us and focus on growing their business.
From inventory management to preparation of cash flow statements, we perform each task required for the smooth functioning of your business.
As we come amongst the best accounting firms, we make sure to maintain your accounting system compliant with the international as well as domestic laws and regulations. There are a very few accountants and auditors in Dubai who are proficient enough to maintain such high standard compliance.
Dubai is establishing its name as one of the world’s largest financial centers in the world. We work tirelessly to strengthen it. Thinking of a larger picture, the whole UAE has the potential for economic development, which would contribute a lot to the country’s growth. Keeping this in mind, we have established another office for accounting and finance in Abu Dhabi.
If we give a briefing of our services: we offer a manual as well as computerized accounting service depending upon the customer requirement. Our highly qualified accounting experts in Dubai and Abu Dhabi are the gems which other accounting firms in Dubai and Abu Dhabi don’t have. These experts have profound knowledge about manual accounting as well as accounting through software programs such as QuickBooks, Sage, Tally, etc. We create monthly and yearly financial reports which are supervised by CAs and CPAs of our company.
All our accounting services
Accounting is one of the core business processes in which no mistake can be afforded as the complete knowledge about the flow of money is obtained through it. Bookkeeping is the foundation on which the infrastructure of accounting stands.
The data created through accounting and booking can also be used for business forecasting, predictions, and decision making. Bookkeeping deals with keeping a record of day-to-day financial transactions. In our financial accounting and bookkeeping service, we classify various records, conduct analysis on its basis, summarise the data based on bookkeeping records we prepare.
Our financial advisors and experts in Dubai and Abu Dhabi have served numerous clients in various GCC countries. They have the knowledge of international accounting standards designed to harmonize the accounting process throughout nations. This makes us one of the most credible bookkeeping and accounting firms in Dubai.
- Our bookkeeping and accounting service remains compliant with IFRS taking care of the domestic rules and regulations.
- We, as financial consultant provides monthly bookkeeping services in Dubai, which can efficiently track each transaction.
- The account payable service rechecks all the payments made and their invoices, and documents it.
How could our accounting and bookkeeping services be useful for you?
Accounting and Bookkeeping services help a company clear the picture in terms of financial status. This lets one take a decision regarding expansion, budget preparation, purchase, etc.
When you keep records in a uniform format, it eases out the work of audit teams and satisfies the legal requirement. As per the laws in UAE, it is necessary to maintain proper accounting records.
Not only it helps to identify the malpractice going on within the company but also finds out its intensity. This lets us know where we need to make rectification.
Based on the book of records, one can find out the requirement of further investments and return from the previous ones.
All your financial data gets arranged when it passes through N R Doshi and Partners
N R Doshi & Partners’ efficient accountants arrange all your raw data into a uniform format, making it easier for a business to take data-driven decisions.
Basic Bookkeeping service
After you establish your company in the market, you would be having multiple transactions from various sections of your company. It is necessary to put them all together under a particular standard format. Out of all accounting firms in Dubai, we are the most reputed ones who give optimum priority to all our clients irrespective of the services they ask for or the size of the company.
We follow the double-entry method for bookkeeping in which every single transaction has two effects viz., Debit and Credit.
What our bookkeeping service includes
We, as one of the best bookkeeping service providers in the UAE, provide a vast range of bookkeeping services for your company. From the initial level to the advanced level, a company can merge the bookkeeping service with various other services:
- Maintaining bills, invoices, and payments made.
- Bank reconciliation for multiple bank accounts.
- Creating reports based on bookkeeping data.
- Providing data for prediction, budget preparation, and other analytical requirements.
Cash Flow & Forecasting Service
A company needs to manage its finance without fail. After a company gets started, numerous transactions take place whose record should be kept necessarily. With its help, the inflow and outflow of the cash can be measured.
Cash flow Statement bifurcates a company’s cash flow into three categories viz., Operating, investing and financing activities. Based on the cash flow, one can learn about the changes in cash and cash equivalents, how a company’s cash was generated during the period and how it was utilized. Cash flow statement serves as the basis for the future expansion plans of the company.
Required document for preparing cash flow statement:
For calculating the cashflow, one needs to provide income statement and balance sheet for the current year and immediately preceding year. Usually, the cash flow is calculated on an annual basis. Otherwise, one can choose to calculate it for shorter periods too, such as half-yearly, quarterly, and monthly, etc.
As you can see that the process isn’t facile, you need professionals on whom you can rely. N R Doshi and Partners always hire the best CAs and CPA who are amongst the well-known business consultants in Dubai and Abu Dhabi.
Business Valuation and Restructuring
It is imperative to know the accurate value of your own business. When you buy or sell a business, in case you need to restructure the capital investment, litigation settlement, etc.
Performing in-house business valuation can be tiresome, but letting an amateur third-party do that could be risky. We are sure that you would not want to evaluate your business wrong. Therefore, better count on N R Doshi & Partners rather than depending upon other accounting firms in the UAE. We have earned our reputation not just from our work but also by safeguarding the data of our clients.
The firms which promise low-cost business valuation may not be focusing on the quality aspect. Rather than saving a few bucks, the company must focus on finding a partner from where correct business valuation is obtained with optimum data security.
We take care of taking each aspect into consideration, including the ones which most companies forget, such as business risks, debts, cash flow expectations, and many more.
We are flexible enough to calculate the value of your business as per your needs. There are several methods of business valuation including, Book Value, Market Value, Asset-Based Valuation, Multiples of Earnings, ROI-Based Valuation, Discounted Cash Flow (DCF) and Capitalization of Earnings. We can choose them to depend upon the type and size of business.
Account Reconciliation Services
Reconciliation is usually important to detect any discrepancies between the accounting records of the company and the counter-party. It is normal for a company’s account balance as per accounting records to differ from the balance as per the counter-party in question due to timing differences. Account Reconciliation is done to explain the reasons for the differences and to identify errors and omissions. Our reconciliation team supports the clients for account reconciliation, whether one talks about bank reconciliation, suppliers ledger reconciliation, customers ledger reconciliation, intercompany reconciliation, etc.
Our service is available for all the consumers irrespective of the size of their company. You must have a look at our company formation service if you are just getting started. From small companies to MNCs, the result will be prominent for our all users. Also, to avoid fraud and corruption, it safeguards the company from legal issues and maintaining secrecy for critical data.
Let’s have a detailed insight into the reconciliation services we offer:
Bank statement reconciliation can be done manually as well as through accounting software. There are a few accounting software programs that don’t allow to add bank statements to the software application, at that time, manual bank reconciliation can be used.
In manual reconciliation, we check all the bank transactions from the bank book with the bank statement and reconcile the balance as per bank book and the bank statement.
The end result of reconciliation is that, it will bring out errors and omissions that may have been committed either in the bank book or bank statement. Further, it will also highlight any undue delay in the clearance of cheques. Therefore, our efficient reconciliation accounting technique, along with reconciliation experts in Dubai, will help to keep your accounts updated.
Customer ledger reconciliation is somewhat complicated, and complexity increases with the increase in the number of transactions. Customer ledger also involves discounts, rebates, returns, etc. which make the in-house reconciliation tough. If you provide N R Doshi & Partners a chance to perform reconciliation for your company, you will be able to focus on the other vital aspects of your business.
How our service will be helpful for you?
- It will make sure all the customer amount is accounted correctly.
- It helps in finding out the actual position of the customer account balance.
- In the case of international transactions, we check the transactions are done based upon the correct foreign exchange rate.
- It pinpoints errors and omissions made while recording customer transactions so that they can be corrected on a timely basis.
- Invoices issued to customers.
- Customers’ account statement.
- Copy of agreement which is in between the company and its customer
- Bank statement copy for payment obtained verification
- Debit notes received from customers
- Credit notes issued to customers.
Reconciliation between the supplier ledger and the account statements provided by the supplier is a tiresome task for any accountant. Thus, a professional team is required to maintain vendor payment reconciliation.
How our service will be helpful for you?
- To make sure that the invoices received for the supplies exactly match the amount credited to the suppliers’ accounts.
- We make sure that the purchase return gets debited properly from the suppliers’ account.
- We make sure that you have received the discount from the supplier as per your agreement with him.
- It helps in finding out the actual position of the supplier account balance.
- It pinpoints errors and omissions made while recording supplier transactions so that they can be corrected on a timely basis.
- Invoices received from suppliers
- Suppliers’ account statement
- Copy of agreement which is in between the company and its supplier
- Bank statement copy for payment obtained verification
- Credit notes received from the suppliers.
- Debit notes issued to suppliers.
Before finalizing the books of accounts, accounts need to get done with intercompany reconciliation- a tedious task due to an immense number of transactions taking place between the company. Example of an intercompany transaction- transactions done between headquarter and its branches, exchange of two different ventures owned by the same parent company, etc.
However, the discrepancy between accounts of the same company can lead to undue delay in coming up with the consolidated financial statement. Not all accounting companies in Dubai are efficient enough to provide intercompany reconciliation. Therefore, you can have us for intercompany reconciliation as well as for other reconciliation services.
We only need your financial information which is kept safe with us:
- Statements of accounts
- Vouchers such as credit note, debit note, payment details, etc.
- Statement of accounts from the associated companies
- Financial Statements of group companies
Updating Backlog Accounts
Your company may find it challenging to keep an updated book of accounts and reports. Every transaction must be recorded as and when the transaction takes place. This is common with small and medium-sized businesses. According to the CCL (Commercial Company Law) in the UAE, it is necessary to keep the book of accounts updated. If it is becoming tough for you, then have N R Doshi & Partners at your service.
We are one of the top accounting firms in the UAE, based in Dubai and Abu Dhabi, who will help you in maintaining your accounts. All we need is your support in providing us the proper documents such as debit notes, credit notes, sales invoices, purchase invoices, bank statements, bank transfer copies, payment vouchers, receipt vouchers, cheque counterfoils, etc.
Our representative will make sure no data gets missed, and you obtain a proper book of accounts. We render this service to prepare reports monthly, quarterly, half-yearly, and annually. These are the reports we prepare for you:
- Balance Sheet
- Cashflow statement
- Receivable aging list
- Reports on sales performance
- Expense report
- Financial ratio analysis
- Profit and loss statement
- Breakeven point analysis
- Working capital analysis
However, our service is entirely flexible to entertain any of your further accounting-related requirements.
Accounting tells you how your business is doing
N R Doshi tells you what you should do