Accounting and Bookkeeping Services
Benefits of Outsourcing Accounting Services
Helps the organisation maximise their returns by focusing on their core activities
Reduction of cost as they can get their accounting done at almost 50% of the cost and that too by experienced professionals
Owners/Managers have access to the information everywhere including their mobile devices which aid them to be proactive.
All related services under one roof, including internal and external audits, accounting supervision, CFO services, Business valuation & Value Added Tax (VAT) consulting.
Accounting and Bookkeeping Services
Broadway Accounting Services is an independent Bookkeeping firm, providing Bookkeeping and Accounting services for small and medium size companies.
Your own dedicated Accountant, on-site or off-site.
- Off-site Accounting services- we manage your accounting from our office
- On-site Accounting services- a qualified accountant working at your office
- Accounting services managed On and Off-site (a mixture of the above tailored to you)
Successful firm management requires an eye on tomorrow and a willingness to implement change with thoughtful planning. Adding bookkeeping and accounting services can increase firm revenue, and provide your clients with more options to suit their businesses with a higher level of satisfaction.
Deciding Factor | Outsource Accountant | In-house Accountant |
|---|---|---|
Staff Visa cost | NIL | Average AED 7,000 for 2 years |
Monthly Fixed Expense | Average AED 7,000 for 2 years | Min starting from AED 5,000 per month |
Staff Availability | Available full time in-house | Min starting from AED 5,000 per month |
Staff Spacing Requirement | Not required | A desk space is required |
Annual Leaves ( 1 month) | Not required as accounting is outsourced on monthly basis | 30 days annual leave with salary |
Medical Leaves | Not required as accounting is outsourced on monthly basis | 12 Days Medical Leaves per year |
Medical Insurance | Not required – To be taken care by outsourced firm | At least AED 2,000 per year
|
End of Service Benefit | Not required – To be taken care by outsourced firm | One year salary for each completed year as gratuity |
Contract Terms | As per your business requirements – No fixed term contract | Minimum of 2 years contract as per UAE Labour Law |
Service Quality | Normally you get senior level Chartered Accountant expertise | With AED 5,000 salary you get a very junior level resource |
Expert advise on Financial reports | Normally get advise from Engagement Partner of the Accounting Firm | Rarely get advise as economical resource is mostly by junior |
Risk factor | It is mostly perpetual, as it is responsibility of the Accounting Firm | Key man risk is there if the only in-house accountant leaves the job |