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How Can You Improve The Book keeping?

Are you amongst those business owners who like to use the spreadsheets? Well, not every businessperson may have time for the same.



 Are you amongst those business owners who like to use the spreadsheets? Well, not every businessperson may have time for the same. But whether you have time or not, you will have to maintain the book of accounts. Few tips that can help you in this are:

Business and Personal Finance Should be Separate

A common mistake is to mingle the expenses and the income, and it may cause a headache for you. If you decide to start the business, the first thing you should have is your business bank account. You should also get a separate credit card as well. It will not just make the accounting easy; it also helps your business build the credit rating.

Use Automation

The era of entering data in the spreadsheets and reconciling the numbers manually is over. You can use cloud-based applications and do banking online. Working in this way, you can make sure that your books of accounts are accurate and match the business bank account.

Take Help from a CPA

If you find things challenging on your own, you can take help from a Manhattan CPA. He can suggest if you should use off-the-shelf accounting software or take their services. It pays to take the help of professionals, and when they are a CPA, you can rest assured that the book-keeping will be delivered to perfection.

Regularly Check the Finances

If you don’t pay attention to the bookkeeping for long, you may end up with a mess and end paying checks that don’t get clear. Your book of accounts may not tally, so it is crucial to ensure that everything is in shape.

Review the Book of Accounts Regularly

To make sure that everything is fine with your book of accounts, you must take an in-depth look at the records maintained. You should look for the trends such as the growing and declining sales, revenues as compared to the last year, or increase in the payment delays. You should speak to your CPA to give you the big picture so that you are better prepared for future needs such as buying the latest equipment or moving to the new location.

Maintain the Records of the Business Expense

Changes to the tax regime are frequent, and you should consult the accountant for guidance on the kind of the expenses you can deduct for the next year. If you have to claim anything, you should maintain the detailed records even if you have to save time by scanning and to digitize the receipts. You can simplify the tracking with the help of a business credit card for business purchases.

You can manage the Tax Deadlines Properly

To avoid getting caught short, you should plan and set aside some money for tax payable. Try to pay the taxes on time to avoid fines.


With Manhattan CPA, you can focus on enhancing your business than worrying about the books not being maintained. 

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 About VAT preparation in UAE

A VAT is a consumption tax placed on a product when a value is added at each step of the supply chain, from production to the point of sale. The VAT is introduced on 1st January 2018. The present VAT rate is at 5%. One of the main reasons why VAT is introduced within the nation is to provide a new source of income, which can be continued to be utilized to supply high-quality public service. It also helps the government to move towards its vision of decreasing dependence on oil and other hydrocarbons as a source of income.


 To become registered under the VAT law means a business is approved by the government, as a supplier of goods and services and is permitted to gather VAT from clients and remit an equivalent to the government. Only VAT registered businesses are allowed to do the following:

• Charge VAT on the taxable supply of products & services.

• Claim Input Tax Credit on VAT paid on their purchases, which can be deducted from VAT liability on sales

• Payment of VAT to the govt.

• Periodic filing of the VAT return.

In addition to these, all registered companies need to align their business reporting structure in line with the compliance requirements like accurate and updated books of accounts, tax paid documents like credit notes, debit notes, records to all or any inward supplies and outward supplies, tax invoice, etc. are essential to be maintained. Hence, knowing the basics of VAT is one of the vital steps for your VAT preparation and obtaining VAT registration in countries like UAE, which are going to be the primary step towards transiting your businesses to the VAT era.

Need Any Help For VAT Services In Dubai?

Looking for any professionals to come up with a perfect VAT implementation plan for your business? Get in touch with experts like ARC Associates, the top VAT consultant in Dubai. With a set of expert and well-experienced accountants who work towards customer’s goals and wants, you can be reliable over ARC Associates services, with the highest proficiency.

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