THE IMPORTANCE OF ACCOUNTING BOOKKEEPING SERVICES IN DUBAI
Accounting has been applied since ancient times, which means that its history dates back to ancient civilizations. At that time, they recorded information and financial movements on paper, while accounting has now developed and introduced, where it depends on ready-made accounting software.
Generally, accounting can be defined as the language of finance and trade.
The accounting sector is one of the most important sectors within any company, which means that it’s a necessary key in every company.
And it’s possible to run the business by a small accountant in a small company or through accounting companies specialized in taking care of the financial matters of major companies.
Bookkeeping is one of the difficult and complicated service because it contains many accurate details, and to save time and effort for you, AlmutakhasisTax can help you with auditing and bookkeeping.
Bookkeeping includes the daily recording of financial transaction such as sales, purchases, and income in terms of received and paid.
The importance of bookkeeping
- Help to know the financial position.
- Clarify all the financial operations carried out during the day.
- Show the details of the goods that the merchant has at the end of the financial year.
Rules of bookkeeping
The aim of organizing commercial books is to prevent traders from tampering with the books by changing their entries, adding to them, or destroying their pages.
- The books must show the financial position of the merchant and written in Arabic.
- It should be free of erase, the vacuum and writing in the margins.
- If the merchant makes a mistake in the restriction, he must keep it with proof of cancellation.
- It must be prepared in the specified standard form.
- The merchant may not use a new book until after the end of the previous book and the signing of the last page by a chartered accountant.
- When the project stops, the merchant or his heirs must submit the books to the competent employee.
The aim of the commercial bookkeeping was to accurately show the merchant’s financial position and his rights and obligations related to his trade, as it’s a document for him, so the law required him to have specific rules to organize his work and preserve them from changing or cheating in them.