Running a business in Abu Dhabi means managing money wisely and properly. To do that effectively you need accounting services. But how much do they cost? if you own a small shop or a big company knowing the price helps you plan your budget.
The price of accounting services depends on various things. It changes based on what you need, how big your business is, what type of work you do and how experienced the accounting firm is. So let’s explore these details and find out the cost of each services;
Factors Affecting the Cost of Accounting Services
The price of accounting services is not the same for everyone. Here are some things that affect it:
1. Type of Accounting Services
Different accounting services cost different amounts. Below are the main ones and their prices:
Bookkeeping Services
Bookkeeping means keeping track of all the money coming in and going out. The price depends on how many transactions you have.
- Small Businesses AED 1,000 – AED 3,000 per month
- Medium Businesses AED 3,000 – AED 5,000 per month
- Large Businesses AED 5,000 – AED 10,000 per month
Financial Reports
Financial reports show your business’s income, expenses and cash flow. If you need reports often, the cost will be higher.
Tax and VAT Filing
Businesses in Abu Dhabi must follow tax rules, including tax services VAT. The price depends on how complicated your transactions are;
- Simple VAT Filing AED 1,500 – AED 3,000 for small businesses
- Complicated VAT Filing AED 3,000 – AED 7,000+ like for larger businesses with many transactions
Payroll Services
Payroll includes calculating salaries, deductions and bonuses
- Small Businesses [less than 10 employees] AED 300 – AED 1,000 per month
- Medium & Large Businesses AED 1,000 – AED 3,000+ per month
Audit Services
Audits check if your business is following all financial rules. This can be required by law
- Small to Medium Businesses AED 5,000 – AED 10,000
- Large Companies AED 10,000 – AED 20,000+
Business Advice & Consulting
- Hourly Rate AED 500 – AED 2,500 per hour
- Project Based Price AED 10,000 – AED 100,000+ depending on how complex the job is.
2. Business Size
Bigger businesses need more detailed accounting work. Small businesses may only need basic bookkeeping and tax help, while large businesses need more services, which increases the cost.
3. Industry Specific Needs
Some industries need special accounting services, which affects the price
- Construction Needs extra work to track big projects and payments.
- Retail Requires inventory tracking and multiple sales records.
- Healthcare Must handle insurance claims and medical billing.
4. Experience of the Accounting Firm
Firms with more experience charge more money. However, they also reduce risks by making fewer mistakes. Newer firms charge less but might not have the same expertise.
The Importance of Regular Financial Reporting for Your Business
Regular financial reports are very important for business owners to keep track of their company’s money. These reports include balance sheets, income statements, and cash flow reports, which help you make smart business decisions, see how much you are earning or losing, and plan for the future. Keeping your reports correct and on time makes sure your business follows tax rules and avoids mistakes in your finances.
How the Right Accounting Firm Can Save You Money in the Long Run
Choosing the right accounting firm is not only about managing your money – it’s about making sure your business stays healthy financially in the long run. A good firm with the right skills can help you pay the right amount of tax, make sure your financial reports are accurate, and avoid mistakes in payroll or VAT filings.
Key Considerations When Choosing an Accounting Firm
Choosing a good accounting firm is important. Here are things to think about
1. Industry Experience
2. Full Service Firm
Try to find a firm that can handle everything, from bookkeeping to audits. This can save money and make things easier.
3. Reputation & Reviews
Check reviews and ask for recommendations. A trusted firm will make sure your finances are correct and follow the law.
4. Honest Pricing
Avoid firms that have hidden fees. Ask for a clear breakdown of costs before you hire them.
Get Expert Accounting Help in Abu Dhabi
Tracking Your Finances Good financial tracking is essential for any enterprise. Good accountants help avoid mistakes and save you time. Whether you need bookkeeping, tax filing, payroll or an auditing & assurance support, hiring professionals will reduce your workload.
No matter what your accounting needs are, we here at Zaebek specialize in providing Abu Dhabi customers with quality services. You can rest easy knowing our team will handle your finances correctly. Talk to Zaebek today and we will handle your accounting while you concentrate on business expansion!