Accounting Services

01. Bookkeeping Services

We provide Bookkeeping Services, Bookkeeping involves the process of recording, analyzing, and interpreting the financial transactions of a business or individual. The discipline of bookkeeping accounts for a large proportion of the accounting process. A bookkeeper’s duty is to set up financial statements so that an accountant can easily perform legal and tax management in a timely manner.
A skilled and compliant bookkeeper should be able to produce financial records that give business accurate information about its financial activities. These records are critical to the future success of any business. Not only are these records necessary for the business, but they are also required by law. A good contract bookkeeper is able to:

Set up accounting systems and software properly.
Enter transactions.
Perform checks, reconciliations and end of year processes.
Ensure they are up to date with legislative requirements and management reports.
Undertake payroll duties and compliance.

The bookkeeper maintains complete and up-to-date detailed accounts receivable, accounts payable cash account ledgers, and provides daily or weekly reports on these and other critical areas of business management. The bookkeeper either processes payroll or makes the necessary entries to record payroll processed by a third-party provider. In either case, payroll entries will include complete recording of gross wages, employer tax and other payroll expenses, and payroll liabilities.

02. financial statements preparation

Worry no further about the preparation of your financial statements.
We understand that the preparation of financial statements is the fundamental step in the accounting cycle. The financial statements include:

These documents are the essence of financial accounting. The reason for this is that financial reporting exists to provide useful information to external users.

Preparation

Preparation of financial statements is dependent on the nature and type of your company. While some statements require footnote disclosures, others don’t. The ultimate purpose of the financial statements is what determines their preparation. Our experts are keenly committed to the preparation of financial statements while ensuring arithmetic and periodic correctness.

03. bank reconciliations

Reconciliation is the name of a process that reconciles two different accounts. Bank reconciliations match the amount spent with the account. The process has its benefits given that it helps in avoiding bank errors, balance sheet errors which might otherwise have a serious impact. Not only this, but the process helps in detecting any possible fraud along with instilling financial integrity.

Escrow Consulting Group’s accounting services can help you with this tough job. Do you need accounting services for performing your reconciliations? Whether you need an accountant or Audit for small business you are at the right place.

04. financial analysis

Outsourced Financial Analysis: The financial analysis also called (Accounting or Financial Statements Analysis) is a process to make an assessment of the feasibility, stability, and profitability of a business in the current as well as future periods of accounting services. It often includes a comparison of company’s performance and its position in financial terms, to either earlier periods of time or to its competitors in order to determine whether the company will be successful running in its operations or it has an attractive market share.

It also involves ratio analysis based on the company’s financial statements to conclude the company’s performance and position in terms of profitability, liquidity, and financing. For general understanding, these terms can be summarized as follows:

Profitability

It refers to the ability of a business to earn money and to maintain consistent growth in its operations both in the short and long term. In other words, it reflects the overall financial health of a business.

Liquidity

It reflects the firm’s ability to maintain positive cash flows after settling its obligations. In simple terms, the availability of surplus funds after paying the liabilities.

Financing

It shows how the company is obtaining money to finance its operations or to make investments. It also provides insight into the company’s reliance on debt in terms of arranging money for business’s operations which might be riskier in the long term.

Outsourced Financial Analysis Services:

You can contact our company for Business Financial Analysis Services to enjoy numerous benefits such as, costs & time savings, efficient and reliable work by financial experts, improvement in your competitiveness via focusing on your core competencies, more focus on other departments at strategic level, having in- house experience via third party’s work, avoidance of some government regulations and taxes etc.

Why avail Outsourced financial analysis from Escrow Consulting Group:

In the perspective of the above scenario, Altapete Solutions is offering you an attractive opportunity of outsourcing financial planning and analysis to us so that we can demonstrate you the quality of our accounting and outsourced financial analysis.

Our qualified staff (CPAs and ACCAs) has extensive experience and skills in the provision of these financial analysis consulting services which would surely provide you a valuable return to your queries in a very professional manner.

While delivering professional outsourced financial research services, we purely focus on a peaceful and trustworthy relationship with our clients since we consider it one of our top priorities.

We do extra care in the security of your precious assets pursuing local laws of Data Protection so that we can prove ourselves a loyal and responsible party in our client’s best favor.

05. Registration, Computation & submissions of taxes

Altapete Solutions provides full spectrum taxation services to businesses. Our services include registration, computation, and submission of taxes.

VAT Registration

In order to register for VAT in the UAE you should meet the following conditions:

A business must register for VAT if its taxable supplies and imports exceed AED 375,000 per annum.

It is optional for businesses whose supplies and imports exceed AED 187,500 per annum.

A business house pays the government, the tax that it collects from its customers. At the same time, it receives a refund from the government on tax that it has paid to its suppliers.

Foreign businesses may also recover the VAT they incur when visiting the UAE

Furthermore, a business may choose to register for VAT voluntarily where the total value of its taxable supplies and imports (or taxable expenses) is in excess of the voluntary registration threshold of AED 187,500.

VAT Computation

VAT-registered businesses collect the amount on behalf of the government; consumers bear the VAT in the form of a 5 percent increase in the cost of taxable goods and services they purchase in the UAE.
UAE imposes VAT on tax-registered businesses at a rate of 5 percent on a taxable supply of goods or services at each step of the supply chain.
Tourists in the UAE also pay VAT at the point of sale.

Submission Of VAT Return:

At the end of each tax period, VAT registered businesses or the ‘taxable persons’ must submit a ‘VAT return’ to Federal Tax Authority (FTA).
A VAT return summarises the value of the supplies and purchases a taxable person has made during the tax period and shows the taxable person’s VAT liability.