bookkeeping-services-in-dubai

Bookkeeping and Accounting Firms in Dubai: Differences

With bookkeepers managing themselves accountants and accountants giving services of bookkeepers, the line drawing the difference between bookkeeping firms and accounting firms seems to have blurred. Well, at least many people believe like this. However, that is not the actual case. There is still a reasonable degree of difference between the two of them, at least between the services that they are trained and supposed to give in Dubai. Let us have a closer look at this.

Following are the primary and critical differences between bookkeeping and accountant in Dubai:

  1. Scale of working

Bookkeeping services in  Dubai, of course, operate at a relatively small level, with fewer employees. Usually, a team of 10-20 bookkeepers and a controller would suffice to manage the operations of a bookkeeping firm. Accounting firms, on the other hand, operate at a relatively more substantial scale. This is because, as you saw above, they offer a more excellent range of services, thus requiring more employees.

  1. Responsibilities and services contributed

Bookkeeping firms are only responsible for keeping and recording all transaction details. In other words, bookkeeping staff and tasked for making entries and maintaining the books day in day out. At a stretch, the services rendered by bookkeeping companies or even full-time bookkeepers include creating, getting, and keeping invoices and bills, managing reconciliation, reporting to controller or CFO, etc.

Accounting firms, on the other hand, offer a more excellent range of services, of course. In addition to classifying and recording transaction details in journals and ledgers, accounting firms will be responsible for analyzing and interpreting them and making financial reports and statements to assist controllers and chief financial officers.

  1. Qualifications and expertise

Accountants and Bookkeepers don’t need to give any strict tests to be able to work in a bookkeeping firm. Certified accountants in accounting firms have to pass rigorous examinations to get their license and certification. Thus, people in accounting firms use to be relatively much more qualified. They possess more skills as they are trained to cover tax, business reports, accounts analysis, auditing, and much more.

  1. Cost or Charges involved in hiring

Hiring a bookkeeping firm is ultimately cheaper. Bookkeeping is one of the primary tasks in the finance departments. Therefore, there are lower costs involved. Accounting firms may cost somewhat more. Bookkeeping and Accounting firms in Dubai are just worth it, though, since you get far greater assistance in the finance department and related tasks.

  1. Maintenance

As you can guess, hiring a bookkeeping firm in Dubai will be best suited for small scale firms and startups with limited transactions. Since there would be much less of sales to record and take care of, a full-service accounting may not be required. A bookkeeper and a controller should be enough to record, analyze, and maintain the books and financial reports in such a case.

However, when the firm is operating at a more significant level and has a lot of transactions happening on an everyday basis, a reliable accounting firm is a must. However, when the firm is operating at a more significant level and has a lot of transactions happening on an everyday basis, a reliable accounting firm is a must.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s