Auditing and Accounting Service in Dubai

Accounting refers to the process of keeping financial records pertaining to the business. It involves the process of recording, summarizing, analyzing, and reporting all the transactions. The reports generated by various streams of accounting are useful for business decisions. These reports give detailed information about the financial status of the business.

Bookkeeping is a transactional and administrative function that maintains financial transactions such as purchases, receipts, sales, and payments on a regular basis. Accounting is more subjective, delivering financial insights based on information gathered from accounting data to business owners.

In the case of cloud accounting, you keep your business books online. That includes records of income and expenses, and assets and liabilities. The information is encrypted, much like a bank’s, so only people with the login can view the data.

Many organizations might not maintain proper books of accounts at the starting point of their business. But later they realize importance of maintaining proper books of accounts. Backlog updating is the process of updating the books of accounts from the date of incorporation of the company till date

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