KLOUDAC Accounting & Bookkeeping LLC

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XERO Accounting Software Dubai UAE

Xero is a cloud-based accounting software which supports accountants and bookkeepers to collaborate with their small business clients via online.

This accounting software provides number of features like paying bills, claiming expenses, accepting payments, capturing data, reporting and many more. Xero is also one of the fastest growing SaaS companies globally.  

Furthermore, it also gives you accessibility to real-time account information and business tools from your own device. Which enables you to make decisions faster.

Xero for Accountants and Bookkeepers – Xero allows you to Collaborate with the clients, automate the tasks and access client record any time making the work easier and faster.

XERO Data Security

The data that is shared with Xero accounting software will be 100% secured even if your device is lost by any chance. Data security is ensured via the accounting consultants in Kloudac.

Accounting Firms Recognized by Xero in Dubai, UAE

Xero and Kloudac is in partnership since 2017. Kloudac is a fast-growing accounting firm in Dubai that provides Bookkeeping, VAT consultancy, and many more facilities by giving hand to hand support to SMEs.

Xero being one of the top recognized accounting software globally, has given approval and recognition for Kloudac accounting firm in Dubai, UAE.

Kloudac has won the gold champion partnership with Xero.

Certifications

Kloudac has won the certification of Xero Payroll which certifies that it has the experience and knowledge of setting up payroll proficiently and running the payroll process smoothly.

It has also won the Xero advisor certification which ensures that Kloudac has a solid understanding and realistic knowledge of how to use Xero with clients.

XERO Dubai

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Audit Firms in Dubai

Audit Services in Dubai

The word “audit” denotes “evaluation” in simple terms. KLOUDAC is one of the outstanding internal and external service providers in Dubai, UAE. Audit, which is conducting the official financial inspection of a company, or its accounts has become an essential task for the benefit and growth of the company.

Auditors contribute significantly to the company’s financing activities by identifying failing areas, improving the corporate governance structure, and increasing productivity.

KLOUDAC is ready to deliver you the benefits such as Identify and eliminate tasks that do not provide value, improve operating efficiency, comply with all applicable laws and regulations, Powerful internal control and business structure through our internal and external audit services in Dubai, UAE.

Audit firms in UAE with Dubai Auditors

Audit firms in Dubai, UAE offer many services where skilled and professional auditors play a major role in assessing the financial value and standing of the company.

External audit services in Dubai are required by all small and large businesses in order to meet government and authority requirements at the right time.

Since Dubai has become a center for businesses of all kinds and sizes and due to the high profits, that could be earned, many clients choose to establish their companies in Dubai, UAE. Therefore, clients from all over the world seek trustworthy audit firms in Dubai, UAE.

However, it is a must for all global and local clients to ensure that they are adhering to government guidelines and laws. Therefore, it is safer to move forward with an audit firm in Dubai, UAE for external auditing.

Why Choose an Audit Firm in Dubai, UAE?

To perform internal and external audit services in Dubai, a team of expert professionals is required to analyze the financial statements and accounts of the client company in compliance with international financial regulatory guidelines.

Audit firms contribute towards audit issues that affect the industry or the economy. The professional auditors in the audit firm take responsibility for removing non-value adding activities and maintaining compliance with laws and regulations.

Companies that successfully solve audit issues, improve the quality of their financial reporting which in turn leads the company to be one of the most outstanding companies in the world.

Major Key Types of Auditing services in Dubai

External Audit Services in Dubai  – The inspection of a company’s financial accounts is referred to as an external audit. External audits give an independent and unbiased review of a company’s financial statements’ correctness and compliance. It can provide transparency to the shareholders and top management and also highlight issues that have occurred which may not have been brought to your attention. 

Internal Audit Services in Dubai  – Internal auditing is the process of verifying that internal controls created by a company are implemented effectively. Internal auditors in Dubai, UAE identify the implementations of the internal controls to raise the efficiency and performance of a business. The top management of a company creates internal controls and formulates the company’s governance structure.

Forensic Audit Services in Dubai – Forensic Audit Services include a thorough examination of records and documents in order to gather and extract evidence that may be utilized in a court of law or legal procedure against a crime or fraud. Generally, forensic auditing refers to inquiries about a business’s internal operation. This could be financial crimes, fraud detections, bribery, and misconduct. 

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https://kloudac.com/filling-tax-on-time-with-the-tax-consultants-in-dubai/

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VAT Related Services in Dubai, UAE

Value Added Tax (VAT) is an indirect tax which was introduced in 1st of January 2018 at a rate of 5% in Dubai, UAE. And it has an involvement on the individuals and businesses throughout the UAE.

The Federal Tax Authority

Furthermore, The Federal Tax Authority (FTA) manages the administration and collection of income taxes and other fines. It also distributes tax-generated revenues and applying the expense related methodology in the UAE.

VAT Consultancy in Dubai, UAE

The impact of vat will have a significant effect on the productivity of a businesses in Dubai UAE, and there is a risk when the complexity of the transactions increases the taxpayers find it more difficult to fulfill their tax payments on time.

This complication can be overcome by the VAT consultancy services provided by the VAT consultants in Dubai, UAE.

Kloudac in one such recognized Accounting firm in Dubai consisting leading, UAE which provides VAT consultancy for the companies or Organizations.

VAT Registration Services

*Kloudac guides step-by-step on registration process. visit the link Kloudac.

VAT Registration is a procedure where a person registers to the FTA (Federal Tax Authority).

To register with the FTA, a person should satisfy a set of conditions. If the person satisfies those conditions, that person could register to the FTA and then receives a TRN (Tax Registration Number) issued by the FTA in UAE. A person who owns a TRN has the permission to collect and remit tax in UAE.

Moreover, there are 2 types of VAT registrations in UAE. They are Mandatory VAT registration and Voluntary VAT registration.

Mandatory VAT Registration is when a person who make supplies or sales of more than AED 375,000 in the past 12 months should mandatorily do VAT registration (in Dubai, UAE).

Apart from that, Voluntary VAT Registration is when a person makes supplies or sales which exceeds AED 187,500 but less than AED 375,000 for the past 12 months. That person can do voluntary VAT registration in Dubai, UAE (It is optional).

Registration Process for VAT in Dubai, UAE

Registration process for VAT via FTA is an easy task. Since the whole process is done online.

Step 1: Create an account in FTA.

Step 2: Log in to e-services account in FTA.

Step 2: Continue the registration process by submitting the required documents. Some of the required documents are stated below:

Details of the bank

Company Trade License

Certificate of Incorporation

Expected turnover in the next 30 days.

Documents for the authorization process

Step 3: Finish Registration

VAT Return Filing Services

All the tax registrants should submit details of supplies and purchases to the Federal Tax Authority (FTA) in Dubai, UAE.

VAT Return documenting in the UAE relies upon the expense time frames allocated to your business by FTA upon VAT Registration.

Moreover, registrants' tax dates are determined by the FTA during the approval stages of VAT registration. The period can be monthly or quarterly as determined by the authority. VAT Return filing process is more convenient since it is an online process. During this process, registrant is required to submit only the most relevant document and does not require to submit tax invoices. But should maintain all the documents related to the business in an organized manner (in order to submit them to FTA if required). 

VAT Accounting

Kloudac is an accounting firm in Dubai, UAE which manages and give solutions for VAT Accountancy issues faced by SMEs.

VAT consultancy is a mandatory for growing organizations. Kloudac assists you to maintain Vat Records and footpath all the details related to VAT payment.

We also assist you regarding unnecessary tax payments and manage all your tax related issues.

Kloudac also furnish you with:

TAX Audit Services

VAT Training

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Setup your E-Commerce business with KLOUDAC

In the United Arab Emirates, e-commerce has a bright future. UAE is having one of the major B2C e-commerce sectors in the rapidly growing Middle East which will benefit you to setup your own e-commerce Business.

E-Commerce

Before moving on to setting-up an e-commerce company we should have to have an idea about what e-commerce is and what are its categories.

E-Commerce is any economical transaction that takes place digitally is known as e-commerce. This transfer could be 

B2B – Business-to-Business

B2C – Business-to-Consumer

C2C – Consumer-to-Consumer

C2B – Consumer-to-Business

The Dubai government recently announced the Dubai e-commerce Strategy, which aims to establish the city as a global logistics hub for the Middle East and boost its contribution to the local economy to AED12 billion (nearly US$3.2 billion) by 2023. The strategy includes initiatives such as attracting more foreign direct investments and lowering the cost of e-commerce activities by 23%.Moreover, setting up an e-commerce business in Dubai becomes even more easier when you consult one of KLOUDAC experts. They will guide you throughout this journey step-by-step.

How to start your own E-Commerce Business?

In order to start your own e-commerce business, you have to fulfill the below mentioned requirements:

Finalize your business operations 

The Dubai Economic Development (DED) maintains a list of permissible activities. You may obtain additional approvals in case a few of them are not mentioned in the list. 

Select a Business Location 

You can choose a location at any free trading zones or in the mainland region. 

In order to build your own e-commerce business in Dubai, you need to have a legal address. 

Registering a business name

You must follow all the naming convention guidelines before finalizing the name of your new e-commerce business. 

Refrain from using names / words which are unethical, controversial, or insulting anyone in any sense.

Applying for e-commerce license 

After fulfilling the above-mentioned requirements, you can proceed to apply for an e-commerce license. All the legal entities in the UAE are required to have a valid license to get the benefits without any compliance issues. 

Optimized e-commerce website 

You can host your own e-commerce website to obtain more traffic to your portal which will result in an increased number of sales. This is one of the best techniques to optimize your e-commerce business. 

More information about Business setup and company formation and Financial Feasibility Studies in Dubai, UAE.

Investments for business growth

You may take advantage of the huge opportunities available in the Middle East by establishing your new online business in the UAE. Dubai is a home to a big, well-connected population, as well as a number of government-led initiatives that will boost e-commerce growth over the next decade.

More information about Business Valuation that will help you out.

How Much Does It Cost to Open an E-Commerce Business in Dubai?

The cost will be determined by the type of license you have and the business activities you perform. For more details, please feel free to contact one of our consultants. 

Benefits of setting up a business

-There is no personal or corporation tax.

-Request a Visa

-In only a few hours, you can have your business up and running.

-There are no restrictions on obtaining work visas, and the recruiting procedure is simple.

-Get your Trade License Dubai without Office Space

-Low import duty

-With a Professional license, you will have complete ownership.

-Establish a solid relationship with local stakeholders.

-There are no trade barriers, and you may conduct business with the UAE market directly.

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.  

Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more. 

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Why Business Startup is so easy with KLOUDAC?

Our ultimate goal is to see you being successful in this fast-growing business industry. Perfect Business startup is the foundation of your dream  Business. With over 15 years of experience we, KLOUDAC, give a kick start to build your business with suitable Business strategies in Dubai, UAE. 

For many Entrepreneurs the Business startup process has always been a very tedious task. With the Guidance from an authorized and experienced accounting firm in Dubai, many entrepreneurs have smoothly reached their dream. KLOUDAC is one such accounting firm in Dubai who has helped over the past 15 years for SME starters and many other existing Business Companies. 

KLOUDAC is ready to guide and support you from the very first step of your business startup process to the end. Starting off with finding a perfect office space in mainland, offshore or Free zone depending on your requirements. 

The Cost for starting up your Business varies according to your needs and requirements therefore we have customized flexible packages. The cost always varies according to the nature of the activity and license required; depending on whether it is commercial, industrial, or service oriented and many more factors. So, you can easily contact our consultants and get more details.

Why Choose KLOUDAC to start your business?

-KLOUDAC is always updated about new company Laws of the UAE government

-Quick and Fast timelines to boost your startup process

-Facilitate Documentation

-Continuous Guidance for Company Structuring

-Supports in Visa Services

-Highest Privacy and Confidentiality. 

-Advisory and Consulting Services at any time

KLOUDAC has simplified this tedious ‘Business startup Process’ and  has already made necessary plans and procedures to guide new entrepreneurs. It's super easy to walk with KLOUDAC and achieve your goals in a hassle-free manner. For more details about the business startup process please feel free to contact our consultants at any time. They are always ready to help and guide you.

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.  Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more.

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Everything you need for a successful Tax Day - KLOUDAC

When Tax Day is getting closer, you don't have to panic! If you have well-organized documents and an accounting expert, filing your taxes wi

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How does VAT work in the UAE? - KLOUDAC

VAT is a tax levied on all levels of product value addition across the supply chain. The consumer is ultimately accountable for the entire t

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Accounting Firm Dubai

KLOUDAC accounting firm Dubai provides complete accounting services globally. We have a team of experts for the accounting services, bookkeeping services, accounting software implementation, auditing services, business setup consultation.

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Accounting and Bookkeeping Services in Dubai UAE. For a startup or an established company, the main objective is to maximize profit, so in o

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How to register fixed assets?

An organization’s fixed asset registry is a comprehensive list of its fixed assets. This register is primarily created and used to maintain track of the book value of the assets for accounting and tax purposes.

Creating and maintaining a fixed asset register, as well as completing periodic physical checks on fixed assets, has become a critical task, especially for asset-intensive companies. Failure to do so may result in a balance sheet overestimation or underestimate of the company’s assets. External auditors may seek proof that the assets listed on the balance sheet exist, and an independent confirmation can help with that.

Maintaining a thorough and accurate fixed asset registry is the responsibility of the Finance or Accounts manager. The fixed assets register, which will be kept in an excel spreadsheet or a book, should include the following information:

-Identification or serial number

-Acquisition Date

-Description of asset

-Location

-Class of asset

-Cost of acquisition

-Accumulated depreciation

-Net book value

Processing Depreciation

The accountant shall generate a depreciation schedule for each of the goods at the end of each month, using the depreciation rates indicated in sub-section.

The Finance Manager should go over the schedules and sign them as proof that he or she has done so. The accountant must update the fixed assets register based on the depreciation general journal that has been thoroughly evaluated.

Read more about the accounting firm Dubai

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How UAE is transforming as a center to grow businesses in Arab world - KLOUDAC

According to the IMD World Competitiveness Ranking for 2022, the UAE is the most competitive nation in the Arab world.