Accounting And Auditing

RFZ Has A Qualified & Dedicated Team Of Accountants

RFZ CSP have qualified & dedicated team of accountants and financial consultants, with extensive experience in accounting, financial reporting, internal auditing & controls, taxation and VAT returns.
Based on recent company laws, company management is responsible for having accounts that give an actual and fair view of the company to its owners/shareholders/partners, more and more authorities have imposed the requirements to file the audited financial statements as part of the company license renewal and other government requirements.
Entities with regulated activities in the UAE – for example, entities that are regulated by the Central Bank, DFSA – are obliged to file their accounts on the regular basis with the regulator. This can be on quarterly to annual basis.

Business Entities in Dubai Free Zones

Considering the nature of the entity’s operation, we estimate that the following monthly bookkeeping services are required:
Monthly bookkeeping in the local applicable GAAP and IFRS with the local adjustments when necessary.

Preparation of monthly financial reporting (in either our own format or yours if you let us know requirements).
Prepare sales journal, purchase journal and other journal entries
Record all payments and funds received
Record all accounts receivable and accounts payable
Record all assets purchased and related depreciation
Record prepayment and accruals

Benefits of Starting a Business in Dubai Free Zones

When you set up your business in a Dubai Free Zone, you unlock many benefits that can facilitate your growth and operational efficiency. Here are some of the most significant advantages:

Preparation of monthly financial reporting (in either our own format or yours if you let us know requirements).
Prepare sales journal, purchase journal and other journal entries
Record all payments and funds received
Record all accounts receivable and accounts payable
Record all assets purchased and related depreciation
Record prepayment and accruals

The computation of the accounts are based on the relevant records/documents, information and explanation supplied to us. The control, accuracy and completeness of is therefore the responsibility of you and your company management.

Accounts Payable Service

As part of our accounting services, we can also support clients who do not have a UAE bank account to manage accounts payables. Since the local entity will be a newly established company, a payment frequency of two times in a month will be sufficient.Monthly bookkeeping in the local applicable GAAP and IFRS with the local adjustments when necessary.

Invoice review and preparation for
payment documentation
Payment approval by management and senior staff
Client and supplier correspondence
Payment documents administration and reconciliation with the accounts payable list