Accounting Services in Dubai for Real Estate Companies & it’s benefit.
In real estate, the success of your firm is strongly related to your ability to focus on the core activities rather than the basic office jobs. Due to the instability of the real estate industry, you must keep up to speed on market developments and their influence on your assets on a daily basis. The decision to outsource to the Best Accounting Company for Real Estate companies that can help you keep tabs on the real estate market. VAT filing, VAT Registration, VAT fine reconsideration, VAT Audit all can be professionally manged if the Accounting Firm in Dubai is a TAX Agency from FTA. If the Real Estate company is a LLC they should go for yearly Auditing as Auditing is mandatory in UAE for LLC companies.
Let’s take a look at the 10 benefits of outsourcing your real estate accounting to a professional real estate expert Accounting & Auditing company in UAE–
Outsourced accounting services has always been known for its cost-effectiveness. It aids in the optimization of operations and the reduction of processes in the real estate industry. This leads to increased efficiency and a greater return on investment. A Tax agency in UAE is approved by Federal Tax Authority. They understand how to be compliant in terms of accounting with a limited cost to the business Owner.
- Expertise and Specialization
Your books and accounts will be handled by people who are specialists in the field of accounting procedures and have the expertise to keep your books up to date according to accounting standards if you outsource your accounting. Routine responsibilities are carried out by skilled and experienced employees who provide the highest level of service and accuracy that is not possible for a business owner from an inhouse team. Outsourced Accounting Services company are used to deal with multiple clients, different types of critical accounting services. That enables them to deliver quality & accuracy to the business owner. As expertise comes from consistency, the Out Sourced Tax Agency in general involved with companies in the same business and accumulates good knowledge.
- Making the Core Business a Priority
You may focus on your main company business activities by delegating time-consuming and challenging accounting work to reputable real estate knowledgeable outsourcing accounting experts. You may concentrate on your business while specialists handle your accounting responsibilities. In the constant changing environment employees turn around is high. Retaining the in house accountant is always a challenge. So Bookkeeping & Accounting outsourcing is widely accepted in UAE in place of hiring in house person.
- Utilization of technology
Outsourcing can provide you access to technology that would be too expensive otherwise. You may enjoy the advantages of professional accounting software without having to buy and install it. Accounting Firms in Dubai are generally subscribed to many software like Tally ERP, Zoho books, Quick book, Xero. All these are FTA approved Accounting Software. By outsourcing you VAT services, Accounting Services you will be getting the best result out of these software.
Technology also simplifies the entire outsourcing process. The Accounting outsourced company can communicate real-time transaction updates and take them into account right away. They may streamline processes in a fraction of the time with these services. These businesses can also rely on technology to keep their data safe.
- Client’s Satisfaction
Using a competent accounting firm to handle your accounting might also help you boost client satisfaction. Your cash flows and internal processes will be streamlined if you hire a team of professionals to manage your accounts. This will free up resources that may be used to strengthen and improve client relationships.
- Team of Experts
For the success and expansion of a real Estate Business, knowledgeable and experienced employees are essential. Consider this: what if your finance department calculated the broker commissions on indirect sales incorrectly? Or perhaps they’ve mistyped the IBAN of the brokers? Only industry professionals can safeguard you from such costly errors.
Anti-Money Laundering law is very strict for real estate companies. Each and every financial transaction need to be compliant and KYC need to be maintained for all the clients of a real estate company.
- Specialized Projects
Only specialised teams are capable of performing exceptional services and projects. Accounting and Auditing for Owners Associations, for instance, can only be done by Owners Association accountants. Hiring in-house personnel for this type of accounting job is sometimes impractical or prohibitively expensive.
- Risk Reduction
Maintaining KYC, Registration of AML, ESR Notifications, ESR filing are many times require as per the business entity’s legal presence. Ministry of Finance is very strict. Profession Auditing firm can ensure that the business is fully compliant and all the financial transactions are getting monitored
Having a team of competent accountants work on your books can help you reduce risk in a variety of ways. Because most accounting firms take data security very seriously, you obtain superior data security. You also won’t have to worry about missing tax deadlines or non-compliance issues. When you hire specialists, you gain access to numerous years of accounting knowledge.
- Minimize Your Overheads
When a real estate business expands, it includes more money transactions, necessitating the hiring of more dependable people to keep track of the records. Because these services are built to scale with your organisation, outsourced real estate accounting can reduce these additional overhead costs. As your company grows, you won’t have to worry about employing extra accountants.
- Bringing Accuracy to the Business by paying exact VAT.
When it comes to accounting, correctness is essential. A simple bookkeeping error can cost you thousands, if not millions, of dollars. This is especially true for companies in the real estate industry. Administrative penalties from FTA are very high. Tax agents in UAE takes the responsibilities of VAT Filing Services for accuracy.
Outsourced bookkeeping for real estate lets you keep accurate reports and records throughout the purchasing and selling process. It also aids the real estate firm owner in securing his own financial status and keeping track of tax compliance tasks.
How Elevate can help you?
In today’s real estate market, making a profit is quite difficult. As the demand for real estate evolves, margins are diminishing and the future is uncertain. Outsourced Accounting and Auditing provide clients with immediate and long-term cost and time savings, as well as a sense of comfort and assurance, while also protecting and supporting a company’s assets and business ambitions.
Elevate Accounting & Auditing is a renown real estate accounting services provider that understands and efficiently meets the needs of your real estate organisation. We are also a provider of Book-Keeping Services, VAT Filing & VAT Services that will lower your burden and let you focus on your business. Our top-class services assist you in balancing your cash flow, lowering your overhead costs, and significantly increasing your profitability.
We are the Best Accounting & Auditing Company in UAE, providing real estate accounting services to a wide range of clients all over the UAE. Years of experience in the accounting and book keeping services industry have enabled us to provide dependable accounting services and earn our clients’ trust. Furthermore, outsourcing real estate accounting services to us allows you to save a significant amount of overhead costs while also allowing you to focus on growing your revenues by giving you more time to focus on your core skills.