Account and Audit Consultation Services

Universal Business Solutions LLC caters to every financial need of your business in context of the global market with an entire gamut of Accounting and Financial Services, Auditing & Assurance Services, Company Formation, Registration and Licensing Services. We are committed to service excellence by delivering the highest levels of quality standards & professionalism in our services. While working closely with your operations team as not just your accountants but your accounting partners, we truly appreciate the fact that the prosperity of your account is directly tied to our business. On this premise, our experts work closely with your team to formulate a strategy and execute it to guide you through your journey of personal and business finance management. So, whether it is about taking care of saving the money on taxes for your business or carefully keeping a track of the assets and liabilities of your business to assure its profitability in the long term, apart from your accounting partners, our team also serves as the business consultants you can look up to. Our financial services handhold you right from setting up your startup through incorporating it, to making your day-to-day operations more efficient.

Accounting & book-Keeping

• Reporting & updating the transactions (Sales, Purchase, Receipt & Payment, Journals etc.) in Accounting Systems according to the Chart of Accounts
• Fixed Asset Accounting & preparation of Fixed Asset Register
• Preparation of various reconciliations including Monthly Bank Reconciliation Statement, Inter-company Reconciliations, VAT Reconciliation etc.
• Reporting & updating the month/period end closing entries such as the Accruals, Prepayments, Depreciation etc.
• Maintaining detailed records of the supporting documents for recorded transactions as per prescribed standards

Periodic Financial Reporting

• Preparation of the Periodic Management Account Reporting Pack (Trial Balance, Profit & Loss A/c, Balance-Sheet, Balance-Sheet Reconciliation, Cash Flow) & other reports as required by the client
• Identification and reporting of Key Performance Indicators (KPIs) and Key Performance Ratios
• Reporting of variances between Actual results with Budgets & Forecasts
• Providing all the other analytical reports as required by the client

Payroll Processing

• Processing the monthly payrolls and preparation of Pay slips following the provisions of statutory deductions
• Regular reporting of Statutory Payroll Liabilities to ensure timely payment processing
• Sending out the confirmation emails to the employees
• Handling the payroll related queries of the employees

Expense Reimbursement Processing

• Verification of the Expense Claims to ensure that they are genuinely substantiated by bills
• Ensuring the compliance of the Expense Reimbursement Policy of the organization
• Accounting of Expense claims in books of accounts following the account codes and employee department codes.
• Filing of the Expense Claims for each of the employees.

Accounts Payable & Accounts receivable

Accounts Payable-This involves maintaining an invoice due date report to ensure timely payment, ensuring the validity of the Tax Invoice as per the applicable Tax Laws, liaising for approval of invoices, maintaining the aging report for outstanding invoices, maintaining appropriate documentation of invoices processed.

Accounts Receivable -This service includes raising proper tax invoices, follow-up emails for the payments, maintaining proper records of the collection, maintaining age-wise report of the receivables etc.

Audit & Assurance - Assistance Services

Internal Audit -The supervision & analysis of the company’s operational activities pertaining to its business structure, employee behavior and information systems that enable the experts to identify any potential threats to the financial well-being & profitability of the business. Our audit assistance includes:

• Preparing all the records required for the purpose of Audit
• Being the first point of contact for the auditors during the course of the audit
• Furnishing all the information & documents required by the auditors and supplementing the same with the transaction-specific explanations as and when required by the auditors.

Due Diligence Audit – This entails a cautious investigation of the complete financial picture of an organization which are performed right before any mergers/acquisitions or the other critical strategic decisions pertaining to a business that have potential implications for the finances of one or more other businesses as well.

5% VAT Implementation with effect from 2018

Heard about the implementation of value-added tax (VAT) W.E.F 1st January, 2018 and not sure how to prepare your business for implementation of the new 5% VAT on “majority” of payment transactions?

It is true that the implementation of VAT can pose small to medium sized businesses with some.

Statutory Accounts Preparation Services

We provide our clients with the assistance required to prepare their Statutory Annual Accounts. While helping them prepare these accounts, we ensure their compliance with the accounting & disclosure requirements of Financial Reporting Standards

Tax & VAT Audit Consultation Services

Not only as your Accounting Partners, we provide you with the required tax consultation to make your tax implementation process most efficient and cost-effective, but we also keep you prepared for any changes in the government policies pertaining to taxes.

operational issues, especially if they have not taken the required measures to embrace the change in the existing system. With the efficient tax consultation by Universal Business Solutions, you can rest assured about VAT implementation and the changes it will bring. Leveraging our experience, your business will be able to understand the potential consequences of the new levy on your products and services taking the margins and cash-flows into account and train your staff accordingly. Our experts can then help you with replacing or updating your IT systems and streamline your processes and accounting records accordingly to get ready for it.

Looking for VAT Consultation Services for your firm in Dubai?

Brace yourself with the required know-how for successful VAT implementation along with the local & international tax structure applicable.

VAT and Tax Consultancy Services

We at Universal Business Solutions  LLC  are one of the top-notch providers of VAT consultation, tax optimization and implementation services in Dubai and across the GCC region. We take pride in our panel of tax accounting specialists and tax advisory experts who are industry veterans with years of experience at catering to your taxation needs timely and cost-effectively. Leveraging their expertise, you can get a deeper insight into adopting the changes to be adopted by SMEs for the implementation of VAT from the beginning of the year 2018. Apart from the implementation services, we also provide you with ongoing VAT Consultation for your business to perform VAT Filing and ensure VAT compliance process for your business as it continues to grow and make profits in the market – resulting the rules pertaining to the VAT Framework also to become more intricate.