Value-added tax (VAT) was introduced in the Kingdom of Saudi Arabia on January 1, 2018, as part of the country’s efforts. The basic rate of VAT applied on table supplies and imports in KSA was 5%.
However, in July 2020, Zakat, Tax, and Customs Authority (ZATCA) (earlier known as GAZT) issued a decree to increase the standard VAT rate by 15%, effective immediately. The increase in VAT has affected businesses and individuals and has further highlighted the importance of understanding VAT compliance.
The VAT number assigned to each business is unique and specific to that particular entity. This number helps to identify the company for tax purposes. It is important to verify a VAT number to make sure that the business is real and is paying taxes properly. When doing business with a company, it is important to always check their VAT number. This process is called VAT number identification.
VAT stands for Value Added Tax. It is a tax imposed on the supply of goods or services. The tax is levied at the value addition of each stage in the supply chain, from the production and distribution to the final sale of the product or service to the customer.
The supplier should be registered for VAT, to qualify for zero rates. Below is the list of supplies that are charged at a 0% VAT rate.
Exempt supplies are not subject to KSA VAT regulations and do not attract VAT. Businesses handling exempt supplies neither collect VAT on sales nor seek reimbursement for input VAT paid on purchases. List of exempted supplies under KSA VAT:
Zakat, Tax and Customs Authority manages VAT in the Kingdom of Saudi Arabia (KSA). The authority mandated that businesses and individuals must obtain VAT registration;
In Saudi Arabia, to verify the VAT number, visit the official tax website. https://zatca.gov.sa/en/Pages/default.aspx
The majority of accounting software is expensive and understanding its working may require a significant amount of labor.
List of goods and services on which 15% VAT is charged
All goods and services except exempt supplies and zero-rated supplies are subject to 15% VAT.
From 1 July 2020, whether the goods are imported on or after are subject to a 15% VAT rate. However, the rate was 5% before the amendment.
Goods and services when exported outside the council territory are deemed to zero-rate VAT. In regard to this, the business is allowed to recover the associated input VAT by provisions of VAT.
VAT-enabled ERP Software automates the business processes and helps companies run their business more efficiently and to gain greater insight into their business activities with lasting benefits.
Verifying a VAT number is a crucial step when doing business in Saudi Arabia. With the introduction of e-invoicing in Saudi Arabia, business can handle their invoices electronically. In short, verifying a VAT number is an important step to ensure that you are dealing with a legitimate business. Always verify a VAT number to maintain smooth and secure business operations.
Since the implementation of VAT in Saudi Arabia, the compliance burden on medium to small-sized organizations has grown exponentially. If you’re a company owner and are seeking a dependable consultant for VAT consultation Services in Saudi Arabia, contact us at [email protected] or call us at +971 4 239 8571.
The current VAT rate in Saudi Arabia is 15%.
When ZATCA introduced VAT in Saudi, the VAT rate was 5%. However, the government increased the VAT rate to 15% during the COVID pandemic.
The benefits of verifying VAT number in KSA:
To confirm the legitimacy of the seller and the VAT number on the invoices, it is crucial to check the VAT numbers.
Having a thorough knowledge between VAT input and VAT output can help you get you r VAT accounting right. A businesses requires all aspects of VAT; including output tax and input tax. VAT when registered for businesses, it adds value to the goods and services they supply. They also reclaim VAT incurred on goods and services.
The federal Tax Authority (FTA), the government entity responsible for the administration, collection and enforcement of federal taxes was established under federal Law by the President of UAE, via federal decree-law no.13 of 2016.
Here, let’s take a closer look at these concept and explain the differences between them and how it’s supporting the accounting software.
A business’ output tax is the Value Added Tax (VAT) that is charged on supplies of goods and services supporting both the businesses and consumers. There are various VAT rates that can apply to taxable supplies, and some suppliers are exempt from VAT altogether.
How to Calculate Output VAT : Example: If a business sells goods for AED 300, the Output VAT would be AED 15.00 (300 x 5%).
The purchase of goods and services that are liable in VAT are the Input TAX. When a business makes a purchase, the price quoted might be either VAT –exclusive, in which case VAT will be calculated and added separately, or VAT- inclusive, in which means the total price already includes the VAT amount.
How to Calculate Input VAT: Example: If a business purchases goods worth AED 150 with a VAT rate of 5%, the Input VAT would be AED 7.50 (150 x 5%).
VAT input and VAT output are the crucial factors in determining the VAT liability owned to the FTA or that FTA owns you. In UAE, the VAT rate is currently is 5%.
Software for accounting in UAE as an imperative solution for any business to empower financial health and maintain stability. Any small, medium or large scale company can utilize the VAT accounting software as it is simplified, systematic and user-friendly software. It can be custom made to meet the varying demands of different organizations. It helps the ERP solution to help firms to manage their transactions digitally and document it in the central sever for real-time analysis and evaluation.
The key goals for VAT accounting software are;
The Accounting Software features can be easily integrated with other operational modules and applications. Some of the software module features are:
Companies adopting accounting software typically realize many befits, such as increased operating efficiency, data accuracy and visibility into financial information. Most accounting software’s can accommodate and streamline day-to-day bookkeeping tasks.
A VAT consultant is a professional who specializes in helping businesses understand and comply with Value Added Tax regulations, and optimize their VAT entitlements. When owning small to medium business, managing your finances, and juggling multiple priorities, it can be tough to stay on top of everything. That’s’ where the VAT consultant comes in handy. Few reasons as to why you have to consider hiring a VAT consultant for you businesses:
Penieltech - the official Accounting software dealer in United Arab Emirates provides the best in class for VAT Ready ERP Solution to streamline accounting and VAT. Feel free to contact us anytime for support, guidance or assistance at +971 4 239 8571 or send us an email at [email protected].
A business must register for VAT if the Taxable supplies and imports exceed the mandatory registration. Upon registration, a tax registration number will be issues to business by the FTA.
The following documents are required while submitting as a proof of turnover for VAT registration;
Getting a VAT number in the UAE usually takes about 20 business days.
Yes, TRN and VAT is the same and is also known as Tax Registration Number and Value Added Tax. TRN Number is a 15- digit number, assigned by the FTA to the registered businesses.
The key difference between zero rate supplies and exempt supplies is that the suppliers of zero rated goods and / or services can be claimed input VAT during the purchase, and for the exempt supply we can’t claim input VAT during the purchase, nor can you issue a tax invoice for the sale of exempted goods or services.
VAT, also known as Value-Added Tax, is a consumption tax levied on the value added at each stage of a product’s production and distribution. In November 2016, the GCC (Gulf Cooperation Council) agreed on a common legal framework to introduce VAT under the GCC VAT Framework Agreement. Other Emirates, such as the United Arab Emirates and Saudi Arabia, have implemented VAT effective 1 January 2018.
Recently, Qatar became the last state to implement VAT in accordance with the GCC VAT Framework Agreement. This Framework requires all members of different states to introduce VAT and establish national legislation within the agreed parameters.
This is a treaty and not a law. Conversely, it provides a clear overview of how the VAT system will be implemented in the region. There will be two VAT rates – the standard rate of 5% and the reduced rate of 0 %). The introduction of VAT in Qatar will have a big impact on business and private individuals, both in Qatar and other countries.
For business, the introduction of VAT represents both challenges and opportunities. Maintaining VAT will most likely require you to make changes to your accounting systems/ERP solutions, finance process etc. Assign a steering committee train them in VAT to conduct an impact assessment. The impact assessment will help you identify how VAT will affect your business, Identify key risks, changes required, recruitment/training needs, and allow you to plan effectively for VAT.
Corporate – other taxes
Suppliers are responsible for collecting VAT on the goods and services they supply to their customers.
Suppliers are subject to VAT on the goods or services they purchase in order to supply to their customers.
Net of Tax is the amount obtained after the applications tax is deducted from the gross income that resulted from investments or transactions. Most commonly used for showing the results of business in terms of income, profits or lose.
Net Tax = Output VAT – Input VAT
A value added Tax is a consumption tax assessed on the value added in each production stage of a good or service.
Supplier not bearing the cost of VAT. The input VAT can only be recovered by suppliers if the goods and services they supply are taxable and have completed a tax return.
Types of supplies
Different VAT treatments are applied to different supplies. It is always good to have a clear understanding of the type of supply as input tax in connection with taxable supplies is fully recoverable. The most important document to have in hand is the accurate tax invoices during the VAT process.
VAT is likely to impact all business in Qatar, either directly or indirectly, if managed effectively it should have a neutral impact.
Determining how VAT will impact the business model and operations.
Analyzing the prices of services/products the business offers.
Investigating whether current systems can support VAT
Analyzing contractual clauses of existing contracts or new contracts.
Examining the impact on cash flow.
Businesses must employ TAX services and VAT consultants in Qatar to comprehend Qatar’s complex tax rules and regulations. A VAT consultant in Qatar assists businesses with Tax risk management, tax identification opportunities, and efficient defective tax return preparation.
Business already know how accounting on computer software can benefit them. They can maintain their books of accounts with fewer mistakes and faster calculations. There are many accounting software available for companies operating in Qatar. It takes considerable effort for the business owners to decide which one of the accounting software package suits their specific needs. There are number of different product options available for accounting software.
A good implementation project takes at least 6 months to complete. This means if VAT is to be implemented, you must start to consider the impact of VAT now. Speak to us today to discuss how we can help. Contact us at penieltech.com or ring us at +971 4 239 8571.
FAQs
VAT has not been implemented in Qatar. However. The GCC VAT framework sets out a general, high level VAT rules under which Qatar VAT system will operate once implemented.
VAT is calculated as a percentage of the sales prices of goods and services. Depending on goods and services being sold – either 5 percent (standard rate) or 0 percent (zero rate).
Any individual or legal entity who conducts economic activity to generate income must register for VAT purposes.
Chances of Qatar introducing provisions to relive the application of VAT. The exact criteria for a TOGC being treated as ‘outside the scope of VAT’ tend to differ from one VAT regime to another and so we will need to await further clarity.
Managing a business is no easy feat. Whether you are looking to simplify to boost your efficiency or improve the evolving changes, regulations etc.? In order to achieve this, Tally has introduced their latest software, TallyPrime 5.1, – This update includes new features and enhancements specifically aimed at assisting accountants and business owners in simplifying their tasks.
In this blog, we will discuss the newest key updates to TallyPrime 5.1 and compare it to 5.0.
It is an adaptable business management software that simplifies accounting, inventory management, payroll and taxation. It’s a go-to-software solution for small and medium-sized enterprises. TallyPrime is renowned for its ease of use, speed, flexibility and reliability. It’s a trademark for Tally products. With the latest updated TallyPrime, you will experience a whole new level of managing business much smoother.
To handle complex accounting tasks, TallyPrime 5.1 is a must have for accountant or business owners. The advanced feature are particularly beneficial for;
Switching to TallyPrime 5.1 is a simple procedure that can be easily accomplished. To start with TallyPrime, constant training is required to aim in accounting, inventory management and taxation roles. Tally accounting software is used widely in UAE with the latest VAT regulations. It has released a new and improved version of Tally.ERP 9 called TallyPrime 5.1.
TallyPrime Gold aims several users for multiple PCs using a local area network. Gold and silver editions are in the same in features and functions expect that many users can work at the same time in Tally Gold.
TallyPrime Silver is for a single user. This edition comes with all the features and skills of Tally. ERP 9. It also involves services like remote access. Both versions have same functions but only runs on a single single.
The built in tools of Tally ERP can efficiently manage and compute VAT, which is tax imposed on the increases in value of goods and services at every stage of production or distribution.
Tally Prime 5.1 serves at its best without interrupting the business. It’s a powerful tool that addresses the evolving needs of modern accounting professionals.
With over 15+ years of experience as a reliable Tally Solutions partner, our team experts at penieltech in UAE, Oman and India is well versed in Tally Prime and can provide the best solutions for implementation, troubleshooting and advanced features by upgrading your business operations.
At penieltech – No.1 Complete Accounting Software; we are the only Tally Gold partner in UAE and MENA region with expertise in customizing 3,000+ modules to various business requirements, helps easily integrate with CRM for better efficiency and access tally remotely anytime and from anywhere.
Don’t let the outdated systems hold you back, Unlock the power of Tally 5.1 today by give us a call at +971 4 239 8571.
What are the key new features of Tally Prime 5.1 for UAE businesses?
VAT-compliant invoicing, FTA-approved tax filing, multi-currency support, and advanced inventory tracking.
Is Tally Prime 5.1 approved by the UAE Federal Tax Authority (FTA)?
Yes, it is fully FTA-approved and ensures seamless VAT compliance.
Can I generate VAT reports and file returns directly with Tally Prime 5.1?
Yes, it automates VAT 201 form generation, tax reconciliation, and return filing.
Does Tally Prime 5.1 support Arabic invoicing for UAE businesses?
Yes, it offers bilingual invoices in English & Arabic for UAE businesses.
How can I upgrade to Tally Prime 5.1 in the UAE?
pgrade free with an active TSS subscription or buy from an authorized UAE Tally partner.
Dubai, a booming metropolis and is known for its innovative ideas and advanced technological infrastructure, which helps the business to grow and perform at its best. This year’ major web design trends are looking forward to enhance global competitiveness. Advanced technologies like virtual reality (VR) and augmented reality (AR) are being used to create engaging and immersive online experiences.
New trends are fueling the realm of web design, which has the potential to transform the visual appeal and functionality of websites. It also helps to navigate, engage customers and boost their sales. A well designed website is the cornerstone of any growth plan, regardless of whether you’re a start-up business or looking forward to grow. Certain trends of the past will always remain the same, such as user friendly navigation, robust data security and rapid loading times.
Let’s dive into some trending web design that will be in use this year, helping the customers in latest breakthroughs trends and beyond.
In Dubai, web design for business is significantly impacted by artificial intelligence (AI). Business are integrating AI technology to keep visitors interested and satisfied from personalized products recommendations to content.
Experimental Navigation can be exciting approach to website design that can add a unique and memorable touch to a site’ user experience. Optimal navigation should be concise and consistent, too much scrolling in navigation is jarring and challenging to understand.
It encourages the users to invest more time in exploring the site, which ultimately results in higher purchasing rates.
In the recent years, the designers are more focused on soothing and nurturing color palettes, ensuring that color trends remain vibrant and engaging. Designers are incorporating rich warm tones, to add depth and engage the users in seamless way. Trending muted colors like green, blue or grey creates a pleasant vibe to the users.
In 2025, web sustainability will shift from basic optimization to the creation of environmentally conscious websites. This isn’t about faster loading times anymore- but on implementing visually appealing and soothing designs that take into account the environmental footprint at all stages.
Web design trends of 2025 are moving towards utilizing blocked based layouts with vibrant colors. Contrasting color blocks create visual appeal but also aids in guiding users through the website in a natural way. Canva has revolutionized the field with its distinctive approach to product features or service offerings in a unique manner.
Virtual Reality on websites will continue to grow significantly in the future. It is a computer generated stimulation of a three dimensional environment that can be interacted in a real or physical way.
AR technology offers a novel way for buyers to visualize how a property could look with different elements and superimposes digital information onto the real world. With the recent upcoming trends, customers of UAE can easily envision their future homes or offices in fully furnished state.
Dubai hosts a range of best web designing establishments known for creativity, functionality, and expertise. They stand out for design quality and commitment to client satisfaction. It is a home to several top web designing companies. They offer top notch high quality to their customers. It’s quite natural for customers to experience confusion when choosing the right web development companies in Dubai for many reasons.
Few points to remember to consider while pen downing the company for your website.
Whether you’re a startup or well establish business, these experts can develop and design a solution that meets your needs and budget.
Penieltech specializes in business technology services. The core solutions include web development, accounting systems, IT infrastructure, security services and hardware solutions serving businesses across all their digital needs. They have helped numerous businesses achieve operational excellence. Mainly focus on understanding each clients’ unique requirements to provide integrated solutions. They provide their services in other emirate such as Abu Dhabi and countries namely Oman and India.
Contact details: Phone number: +971 4 239 8571
Website: www.penieltech.com
Address: Office no: 205,NBQ Bank Building, Khalid Bin Waleed St – Bur Dubai, Dubai, UAE
SEO Tech Experts is a web designing companies in Dubai, known for its creative web design, development and digital marketing services. They are highly responsive and customizes the websites of small to big business needs. They offer various services such as Website Design & Development, Search Engine Optimization (SEO), Digital Marketing solutions and much more.
Contact details: Phone number: +971 52 828 6005
Address: 106 Bay Square 11, Business Bay, Dubai, United Arab Emirates.
Website: https://www.seotechexperts.ae/web-design-development
Blue beetle has established a digital legacy spanning close to two decades. The company has developed multiple websites for clients in the UAE. They offer services namely, custom web design & development, mobile App Development, Digital consulting, E-commerce Solutions.
Contact details: Phone number: +971 4 429 5818
Address: Unit No. ONE JLT-6-220 Level 6, One JLT, Jumeirah Lakes Towers PO Box 73463 Dubai, UAE
Website: www.bluebeetle.ae
With over 10 years of experience, Red spider Web & Art Design is the leading web design & development company based in Dubai. The team has consistently exceeded client expectations by apply expertise and adhering to best practices and international standards.
Contact Details: Phone numbers: +971 55 5515 475
Address: Office: 1002, Burj Gate Tower, Sheikh Zayed Road, Dubai. United Arab Emirates
Website: www.redspider.ae
Element 8 is a web design company based out of Dubai, UAE. During its last 12 years of service history, the company has created a unique position in the web space in UAE. Unlike other web development companies in Dubai, Element 8 keeps everything in-house. Major Clients of Element 8 includes White Eagle, Spacewell, Yas bay, Saudi Cast, Chestertons and more.
Contact Details: Phone number: +971 50628 2055
Address office: Office 3401, Latifa Towers, Sheikh Zayed Road, Dubai, United Arab Emirates
Website: https://www.element8.ae/
Look no further!
To stay ahead in the digital world, it’s very crucial to adapt and embrace the latest web design trends. Failing to keep up with the emerging trends can result in lagging behind competitors who prioritize user centric and innovative approaches. Web designs and development demand is active and changing daily in Dubai.
We at Penieltech will help you work towards establishing a strong online presence and achieving your digital goals. Our service offers web hosting, SEO Services, Social Media Marketing and UI/UX Design. Updating your website’ design can positively impact the company brand, contact us at Penieltech.com or schedule a consultation today at +971 4 239 8571.
FAQs
The future of web design focus mainly on enhanced user experiences with faster, more modified websites. As AI integration, sustainability driven, voice optimization is taking over we can see smooth navigation and increased use of potential technologies.
Hiring a professional team to design your organization's website can help you target customers by conveying the exact message to them.
Having a professional website builds trust and credibility with potential customers, as it demonstrates the organization's and team's commitment and gives a clear sense of confidence in the company brand.
It’s a definite YES.
As we peer into 2025, the digital revolution is accelerating to another level and emerging into the realm of Artificial Intelligence (AI). The accounting industry is currently experiencing a significant transformation amidst the hustle and bustle of today's fast-paced environment, with AI playing a crucial role in transforming the accounting industry, advancing efficiency and facilitating more profound insights. AI is becoming an essential tool for modern accounting practices.
AI has transformed from a futuristic concept to pivotal catalyst of transformation across various sectors. It involves replicating human intelligence in machines, enabling them to carry out functions as tasks such as learning, reasoning, problem-solving and decision-making.
Accounting software is a software application designed to help bookkeepers and accountants in recording and reporting the day-to-day financial transactions. Different organizations have diverse accounting software requirements.
The software includes SAP, Microsoft, Oracle, and Intuit.
Spreadsheets: Mainly used by small companies that don’t work with complex transactions and operations.
Commercial accounting software: Midsized companies typically use them for business accounting needs. It usually includes graphs that summarize data and reports that provide an overall view of the company’s financial status.
Enterprise accounting software: This software often uses big data and AI to drive insights and make forecasts.
Custom accounting software: Certain companies, in the course of their business operations, occasionally take the initiative to create and develop their accounting software.
The ability to effortlessly access accounting information through accounting software makes it easier to complete audits. Manual booking and audits are quickly becoming outdated as AI tools take over repetitive tasks. This software helps in detailed financial transaction tracking and instant report and analysis.
AI has a wide range of applications in accounting namely Data analysis, fraud detection, pricing analysis, forecasting, auditing, business communications, AI-assisted scenario generation for strategic planning, business intelligence and decision making. When AI is utilized effectively, it offers numerous advantages.
An ERP system is robust software designed to streamline business operations and workflows of any information, reporting and data analytics in intricate businesses.
ERP software solution is a business management software system that is designed for large companies with complex financial needs.
In the early 1990s, ERP and software system was termed by Gartner where he designed to manage various business operations into one integrated system, from accounting, HR and payroll, inventory, warehousing, to supply chain management and procurement. It connects and shares one common database, therefore decreasing the number of resources necessary to run the business end-to-end.
Some common features of ERP software, categorized by their use:
By implementing an ERP system, data gathered by one department can be easily accessed by any other department in real-time.
There are four types of ERP software deployments: Software as a service, also known as on-site ERP, cloud-based ERP, a hybrid model, and Muticloud. Each software varies from the others comes with its own set of pros and cons, and is tailored to meet specific business requirements and ERP strategies. The most common ERP system is Muticloud ERP. (Including more than one cloud-based system integrated with the ERP) It is widely adopted example of integration-enhanced ERP system used by organizations embracing modern technology.
Bookkeeping involves recording and tracking the financial transactions of any business daily. Efficient recording and organizing of financial transactions guarantee that the accuracy and timeliness of each transaction is recorded.
Bookkeeping involves four basic steps:
In recent years, manual bookkeeping has been largely replaced by online bookkeeping using specialized accounting and bookkeeping software like QuickBooks.
At penieltech we provide top-notch service for ERP software in UAE and Oman which is designed to fuel your business growth and streamline operations across sales, inventory, accounting, HR, CRM, payroll, manufacturing and much more.
We offer the following services as well: QuickBooks Online, QuickBooks Hosting, Tally Prime, Odoo, ERPNext, Sage.
Every business is unique, so carefully consider your business needs and make the right decisions by reach out to us at Penieltech.com for expert guidance.
FAQs on Automation Revolutionizing Accounting Practices in 2025
Artificial Intelligence (AI) involves the emulation of human intelligence processes through machines, particularly computers. AI and automation are not only just reshaping industries worldwide but are significantly altering the accounting practices within the UAE. Soon, the UAE will be driven at its best in advanced AI and automation technologies by serving small to large organizations with new opportunities to shape their future.
International Financial Reporting Standards (IFRS) is the only accounting standard accepted for financial reporting purposes in the UAE.
In accordance with UAE regulation, Businesses are required to uphold financial records, which include:
The UAE is set to implement a range of significant alterations starting in January 2025, which will enhance the country's future by improving healthcare, safeguarding the environment, and boosting the economy. The new taxes will restructure the financial landscape for Multinational enterprises.
If you’re thinking of expanding your business in the United Arab Emirates, you need to have good knowledge of the country’s VAT system.
The United Arab Emirates is known for being a tax-friendly country. In 2018, the implementation of Value Added Tax (VAT) across the UAE was introduced on January 1st at a standard rate of 5%.
VAT is a form of consumption tax on the transactions of goods and services. In recent years, the UAE government has made a few changes. Ever since the implementation, every business, whether small or large, has been legally responsible for registering the VAT or will be accountable for paying hefty penalties according to the FTA regulations.
The new taxes are already in the implementing phases, which began on January 1st, 2025, and are part of the Domestic Minimum Top-Up Tax (DMTT) framework. The DMTT targets specifically large multinational companies, leaving small and medium enterprises unaffected.
The steps to implement VAT for a new user are as follows:
Tax is used by the Government to raise revenue for public services. They are mainly classified into two types;
Around 150 countries have implemented VAT, including 29 European Union (EU) members namely Canada, New Zealand, Australia, Singapore, and Malaysia.
The value-added rate in the UAE is 5%, which is considered the lowest among other countries and is usually charged at each step of the supply chain. A VAT-registered company must collect the tax established by the government at 5% on goods and services. It is mandatory to maintain records of every transaction where VAT is paid.
VAT calculator is a reliable and easy-to-use tool used in day-to-day business for establishments to perform VAT calculations and to know the total VAT amount. Understanding the core importance of Value Added Tax (VAT) and making precise calculations is important for financial management.
As per the UAE law, the standard rate of VAT is 5 %. UAE VAT calculator has two options namely ADD VAT or Subtract VAT.
Steps to use the VAT Calculator:
The difference between the VAT collected and the VAT paid is either refunded or given to the tax authorities. The value-added tax is a consumption tax collected at each stage of the supply chain, with businesses collecting VAT on their sales and paying VAT on their purchases.
The major difference between the VAT collected and VAT paid by a business is calculated frequently. This is why it is important to know how to calculate the VAT.
The measure for the new tax has the most significant impact in Multinational enterprises operating in Dubai, UAE. Few Rules to be followed by the MNEs are compliance with Global Tax laws and increased operating costs.
Tally Prime by Tally Solutions is user-friendly and specifically designed even for individuals with no background in IT or accounting. By spending just a few minutes reviewing helpful information, business owners can easily identify areas that need attention.
Three steps to follow before starting to use Tally Prime:
Tally Prime is a comprehensive business management software that includes features for accounting, inventory, statutory compliance, banking, payroll, and more. With a Multi-user License, you can have unlimited users on the same LAN environment, allowing for a larger volume of transactions. Tally Prime has been extensively tested to ensure reliability and trustworthiness. Even in the event of unexpected issues such as network disruptions, power failures, or system reboots, your data will remain safe and free from corruption. Tally Prime enables real-time and secure access to crucial business reports from a web browser, on any device, anywhere. It is user-friendly and can be easily learned and operated by anyone.
A customer orders a laptop online from a UAE-based e-commerce store for AED 4,000. With a 5% VAT, the customer pays an additional AED 200, making the total AED 4,200. The e-commerce store must collect and report the VAT.
Peniel Technology delivers exceptional services to the customers in the UAE by providing training on Tally Prime Gold. Tally accounting software is used in the UAE globally and is favored by organizations of varying scales. We recently launched the product, Tally Prime 5.1, an improved version of Tally.ERP 9. It helps the people to work faster and achieve better results.
Tally Accounting software and support are also available in Dubai, Oman. Contact us for further queries on Tally Prime with Penieltech - www.penieltech.com.
Other than TallyPrime we offer ERP Software, VAT Accounting Software, Invoicing Software, VAT Consultant, and VAT Services. Tally prime can be used by Single and multi-user.
What are the latest Taxes implemented in 2025?
The UAE has put its New Year resolution in place and has implemented DMTT (Domestic minimum top-up tax) in Dubai on January 1, 2025. It reflects the adoption of the Organization for Economic Cooperation and Development's pillar solution. DMTT is targeted specifically at large multinational companies, leaving small and medium enterprises unaffected.
How does the Domestic Minimum Top-up Tax work?
A top-up Tax is charged on an MNE group when its ETR in jurisdiction is below the 15% minimum rate. This is the first step in jurisdiction.
What are the expectations available under the new taxes in Dubai?
The Government of Dubai has introduced new taxes to prevent small and medium enterprises from being overwhelmed.
What are the challenges faced after implementing the new taxes in Dubai?
Even with the latest implementation of the tax system, there are challenges linked as well:
What penalties will the business have to face if not comply with the new taxes?
Small and Medium Enterprises if not compelled by the new taxes in Dubai may face severe penalties, including fines and potential restrictions on operations.
To avoid penalties by the Government, ensure timely compliance by seeking professional guidance.
In the constantly evolving business environment, technology plays a crucial role in driving efficiency, growth, and productivity. However, managing the IT infrastructure efficiently can be daunting to many organizations, especially for small and medium-sized businesses.
This is where managed IT services come into play, offering a cost-effective solution to save your business both time and money.
Table of Content
Managed IT services refers to the process of outsourcing your company’s IT operations to a specialized IT service provider. These providers shoulder the responsibilities of managing, monitoring, and maintaining your IT systems, including ERP (Enterprise Resource Planning) software, allowing you to solely focus on your core business activities.
Providers use smart tools to catch and fix issues early. This keeps your systems running smoothly and avoids time-consuming breakdowns. As a result, your business experiences less downtime and increased overall efficiency.
When issues occur, a team of experts is ready to help. This means less waiting time for your staff and faster solutions. The rapid response ensures that minor hiccups don't turn into major disruptions to your workday.
By setting up efficient systems and standard processes, managed services streamline your business. Your team can focus on their main jobs instead of dealing with IT hassles. This improved focus often leads to higher productivity and better quality work across your organization.
Software and system updates happen automatically. No need for your team to spend time on routine IT maintenance. This not only saves time but also ensures your systems are always protected with the latest security patches and performance improvements.
Building an in-house IT team is costly. Managed IT services give you access to skilled professionals for less. You get expert help without paying full-time salaries, benefits, or training costs. This approach allows you to redirect funds to other critical areas of your business.
Most providers use flat-rate pricing. This makes budgeting easier and more accurate. You won't face surprise bills from IT emergencies or system breakdowns. Knowing your IT costs in advance helps you plan your finances better and avoid cash flow issues.
As your company expands, so do your IT needs. Managed services adapt easily to these changes. You can pay for what you use, adjusting to the needs of your business. This flexibility is especially useful for businesses with changing demands, helping you stay agile in a competitive market.
When systems go down, it costs money. Managed IT services use strong monitoring and upkeep practices. This greatly cuts the risk of downtime. You save money by avoiding lost work time and missed business opportunities. Consistent system availability keeps your operations running smoothly.
Access Service providers invest in advanced tools and technologies. These are often too expensive for smaller businesses to buy on their own. By using these services, you get enterprise-level IT solutions without the big price tag. This levels the playing field, allowing you to compete with larger companies on a technological front.
When considering managed IT services, you need to be careful in choosing a provider that aligns with your business needs and goals. Look for an IT service provider with a proven track record, industry expertise, and a comprehensive service offering. Consider factors such as their response times, service level agreements, and the range of technologies including VOIP (Voice Over Internet Protocol) they support.
The right managed IT services partner will not only help you save time and money but also provide strategic guidance to help your business leverage technology for growth and innovation.
Technology is integral to business success. Managed IT service providers offer solutions for businesses that are looking to manage and optimize their IT operations. By outsourcing your IT needs to a qualified provider, you can focus on your core business activities. This also allows you to reinvest the time and money saved through managed IT solutions to drive innovation and growth.
Are you ready to streamline your IT operations, reduce costs, and focus on growing your business? Contact a reputable managed IT service provider to discuss your unique needs and discover how their solutions can benefit your business.
Are you a business owner trying to juggle multiple things and handle several branches at the same time? Then you need to find a way to handle everything so your business’s growth is not slowed down. In this situation, QuickBooks Enterprise's multiple branch features can help you, because using separate QuickBooks for each branch might not be practical.
You can handle everything with just one copy of QuickBooks software. It allows you to make different branch files that are separate from each other in the same software. In this article let us see how to set up Quickbooks for multiple branches and handle it.
To set up multiple branch files in your QuickBooks software, you need to use the New Branch Interview wizard. Each branch gets its own file that you can change as needed.
In short, even after you create multiple branch files, you can adjust them later. If you can't find any option in your dashboard, feel free to contact the QuickBooks Enterprise UAE Help Desk.
1. Open QuickBooks and click on File at the top of the screen.
2. Pick "new branch" from the list that drops down and click Express Start.
3. Write the new branch's name, address, and contact details in the boxes provided, then click Create Branch.
4. Do these steps again for each extra branch you want to set up.
To switch between branches in QuickBooks, click ‘File’ at the top and choose ‘Open Previous Branch’. Then, find the branch file you want and click ‘Open’.
If you've recently upgraded to a new version of QuickBooks, you can still use your old branch file. You do not have to make a new account.
To set up separate QuickBooks accounts for each of your business branch:
1. Go to the menu of “Lists” and choose the “Chart of Accounts”.
2. Click on the Account button and then select New.
3. Choose what type of account you need (like bank, income, expense, etc.).
4. Give the account a name and fill in the important details.
5. Repeat these steps for every account you need to create.
To create customer or vendor profiles:
1. Go to the Lists menu and choose Customer & Vendor Profile Lists.
2. Click the New button and pick the type of profile you need (Customer or Vendor).
3. Type in the name and details of the customer or vendor.
4. Repeat these steps for each customer or vendor you need to add.
To create items:
1. Go to the Lists menu and choose Item List.
2. Click the Item button and then select New.
3. Choose what type of item you need (like service, inventory part, non-inventory part).
4. Give the item a name and fill in the details.
5. Repeat these steps for each item you need to create.
After creating your branch file, customize QuickBooks for your business with these recommended steps:
1. Add your branch information.
2. Create Products and Services.
3. Add Customers and Vendors.
4. Enter your employee information.
5. Create accounts on your chart of accounts.
6. Set up apps or subscriptions for payments, payroll, etc.
7. Enter historical data as needed.
Tip: Many accountants have switched to QuickBooks Cloud Hosting solutions so they can easily manage multi-branch accounting or bookkeeping.
1. First, open QuickBooks. This is the accounting software you'll use to manage your branches.
2. Visit the QuickBooks pricing page and choose the subscription you want. This will determine how many branches you can add to your account.
3. Scroll to the bottom and look for the small text that says, "Adding a branch to an existing account." This is the link you'll use to add a new branch to your QuickBooks account.
4. Enter your QuickBooks user ID and password. These are the details you use to sign in to QuickBooks.
5. Click Continue. This will take you to the New Branch page.
6. Click Start Interview. This will begin the process of creating a new branch file.
7. Follow the on-screen instructions to enter details about your branch, like its name, address, and phone number. These details will be used to create your branch profile.
8. Click Next. This will save the information you've entered and take you to the File Name for New Branch dialog box.
9. In the File Name for New Branch dialog box, enter a name for your branch file and choose where to save it. The file name should be different and unique so it will be easy to remember.
10. Click Save. This will create the new branch file and take you to the Create Your Branch Profile dialog box.
11. In the Create Your Branch Profile dialog box, enter more details about your branch, such as its business category and number of employees. This information is optional, but it can help QuickBooks better understand your branch category.
12. Click Finish. This will create your branch profile and take you to the QuickBooks home page.
You don't need to subscribe to another license if you add a second branch to your QuickBooks account. You can add branches with different Tax Registration Numbers separately to have the taxes recorded correctly.
Here are the Steps:
1. Click on File in the top menu bar of QuickBooks.
2. From the drop-down list, select New Branch, and click Express Start.
3. Enter the name, address, and contact information of the new branch in the relevant fields and click on Create Branch.
4. Repeat the process to set up other branches.
If you want to switch between branches, simply click File from the top menu and choose Open Previous Branch. Find the branch file you want and click Open.
Once you've created multiple branches on the same QuickBooks enterprise UAE, you need to know how to switch between them when needed. To switch between branches:
1. Click the “File” option on the menu bar
2. Select Open Previous Branch from the dropdown list
3. Find the file you need
4. Click Open
Here are the steps to add another branch to your QuickBooks account, follow all the steps carefully:
1. First, open QuickBooks' official website https://quickbooks.intuit.com/choose-country/ in your browser.
2. After opening the website, it will ask you to select your continent.
3. Once you've selected your continent, choose your country from the given list.
4. After that, you'll see two options: Buy Now and Free 30-day trial. Click on the option you want.
5. Now, choose your new QuickBooks plan.
6. After choosing the new QuickBooks plan, click on add another branch.
7. Then, enter your existing QuickBooks login details, and follow the prompts to finish the signup process.
In short, QuickBooks is the right solution you might be looking for all along for your business. It helps your team work together and keeps your financial information safe. But not all businesses are alike, so think about your business needs and make the right decisions.
But if you feel confused at some point and wonder what will be the right choice, you can reach out to a Quickbooks consultant. They can help you set up and manage Quickbooks in easy and efficient way for all your business branches.
HRMS (Human Resource Management System) software is a powerful tool that helps companies in the UAE handle their workforce more efficiently. It makes everyday HR tasks easier and faster. From hiring new employees to managing their entire time with the company, HRMS improves the experience at every step.
UAE businesses invest in HRMS to keep up with changing laws and rules about employment. This is especially important for HR audits and reporting, which are required by UAE authorities.
Modern HRMS software UAE that are available in the market, can also show important trends in your workforce. This information helps managers make smart decisions to increase company profits with fewer problems.
For UAE companies, HRMS software is particularly useful for managing HR audits and creating reports. It can automatically collect and organize the data needed for these tasks, making it much easier to comply with local regulations and improve overall HR processes.
In this article:
HRMS, or Human Resource Management System, is a sophisticated HR software solution that centralizes various HR functions. For UAE companies, it is particularly valuable in managing HR audits and reporting. Let us explore how HRMS can revolutionize these crucial aspects of HR management.
HRMS is more than just a software tool; It is a catalyst for organizational success, especially when it comes to audits and reporting. Here is why it is indispensable:
1. Enhanced Efficiency: HRMS automates routine HR tasks, significantly reducing manual paperwork. This efficiency is crucial during audits, allowing HR teams to focus on strategic aspects rather than scrambling for data.
2. Precision in Compliance: UAE has specific labor laws and regulations. HRMS ensures accurate payroll calculations, tax deductions, and compliance reporting, minimizing costly errors during audits.
3. Centralized Data Management: All employee data is stored in one place, simplifying access and updates. This centralization is invaluable during audits, providing quick access to necessary information.
4. Employee Self-Service: Many HRMS solutions offer employee portals, reducing administrative workload and ensuring data accuracy, which is essential for reliable reporting.
5. Automated Compliance Assurance: Staying compliant with UAE labor laws is challenging. HRMS automates compliance-related tasks, providing an audit trail for regulatory purposes.
6. Cost-Effective in the Long Run: While initial implementation requires investment, HRMS leads to significant long-term savings through reduced paperwork and minimized compliance risks.
7. Advanced Analytics for Reporting: HRMS generates data-driven insights, helping UAE companies make informed decisions and produce comprehensive reports for audits and management reviews.
8. Scalability for Growing UAE Businesses: As UAE companies expand, HRMS scales seamlessly, accommodating growth without disrupting audit and reporting processes.
Before implementing HRMS software you must understand how it impacts your business and how you can gain an advantage over others and make your HR audits and reporting better in these key areas:
1. Quick and adaptable systems: Our HRMS is built to work fast and change easily. This means you can adjust to new rules and grow your business quickly. You won't have to wait long to get the information you need for audits or reports.
2. Modern system design: We use the newest technology in our HRMS. This ensures it works well, can grow with your business, and fits with other new tools. Your system will be ready for future needs and can handle more work as your company grows.
3. Cloud-based model: Our HRMS works through the internet. This does not require you to install anything on your computers. This makes it easier to use, costs less to start, updates automatically, and can grow with your business.
4. Highly protected systems: We know your information is important. Our HRMS has strong safety measures to keep your HR data safe from people who should not see it. This helps you follow the rules and protect your company's good name.
5. No extra upkeep costs: With our HRMS, you do not have to worry about surprise costs for keeping the system running. You get all the help you need without paying more.
6. Low running costs: Our HRMS is designed to save you money. It makes work simpler, reduces manual tasks, and uses resources wisely. This helps you spend less on HR over time.
7. Simple supplier management: Our HRMS makes it easier to work with suppliers. It puts all the information in one place, automates workflows, and gives you a clear view of your relationships with suppliers. This leads to better teamwork and communication.
8. Good project handling: Our HRMS has strong features for managing projects. You can plan, carry out, and watch over HR projects like hiring new people or training programs. This helps make sure projects finish on time, within budget, and achieve what you want.
9. Top-quality hiring services: Using our HRMS technology, we offer excellent hiring services that fit your company's needs. From finding candidates to bringing new hires on board, our technology makes the whole hiring process smoother. This helps you find and hire the best people effectively.
Our HRMS is especially useful for companies in the UAE. It helps you manage HR audits and create reports easily. With this system, you can quickly provide the information needed for government checks and create detailed reports for your management team. This means less stress during audits and more accurate, timely reporting for your business.
To leverage HRMS effectively for audits and reporting, UAE companies should focus on these key features:
1. Comprehensive Employee Information Management: HRMS serves as a detailed database for employee profiles, crucial for accurate audit responses and regular reporting.
2. Recruitment and Applicant Tracking: This feature helps in demonstrating fair hiring practices during audits and in creating recruitment reports.
3. Precise Attendance and Leave Management: Automated tracking ensures accurate attendance records for audit purposes and regular management reports.
4. UAE-Compliant Payroll Processing: HRMS calculates salaries and deductions in line with UAE labor laws, simplifying payroll audits and reporting.
5. Structured Performance Evaluation: Facilitates fair and documented performance appraisals, which are important for audit trails and performance reporting.
6. Benefits Administration: Manages employee benefits in compliance with UAE regulations, essential for both audits and employee satisfaction reporting.
7. Comprehensive Compliance and Reporting Tools: Generates reports required for UAE labor law compliance and government audits.
8. Training and Development Tracking: Monitors employee training, often required by UAE labor laws and crucial for skills gap analysis reports.
HRMS is a very useful tool for companies in the UAE. It helps make HR work easier and faster. With HRMS, you can manage your employees better, from hiring them to tracking their work. It is especially good for HR audits and reports, which are important in the UAE. HRMS keeps all your employee information in one place, follows UAE rules, and creates reports quickly.
This saves time and money and helps your company grow. By using HRMS UAE, you can focus on making your business better instead of worrying about HR tasks. It is a smart choice for any UAE company that wants to manage its people well and follow the rules easily.
Sage 50 and Sage 200 are finance management software programs used for accounting. They enable small-scale and medium-scale businesses to maintain all their monetary and stock-related information in one place. This enables these businesses to prepare comprehensive reports and to make informed decisions based on the available financial information.
People are often of the opinion that the Sage 200 is merely a more advanced form of “Sage 50”. This may be true in regard to a lot of businesses but the fact is both these applications have their peculiar uses. Businesses tend to use them in various ways depending on their size and the way they approach accounting.
This article will elaborate on Sage 50 vs. Sage 200 in the subsequent sub-sections. This information will assist you in choosing the right bookkeeping and accounting software for your business. In addition, it clarifies any doubts that you have about the Sage accounting system you choose will be relevant for your business for only a short while.
Table of contents:
Popular business accounting software, that is Sage 200 is designed to facilitate the interaction of different arms of an organization. It can be used by sales teams, finance and accounts departments, shipping units, as well as warehouse workers.
The most interesting feature of Sage 200 is that you can include or exclude various components so that it precisely meets the specifications of your business. Whenever you feel the urge to expand; the said software can be altered to fit perfectly within the structure of your organization.
This feature is what makes Sage 200 a fantastic solution for organizations that are on the lookout for an accounting system that can be expanded in the future.
Sage 50 is an accounting software solution especially designed for small enterprises. It is proficient in dealing with basic day-to-day cash management processes including receipts and payments. It also assists in invoice generation and basic reporting.
To define it briefly, this application integrates financial management, customer management, and business information management all in one. It is ideal for small-scale operations that are ambitious and plan to grow in the future.
Sage 50 is a good software for people looking for basic accounting software that will help them manage their company finances easily.
It is important not to make a mistake in comparing Sage 200 and Sage 50 as a means of establishing which one is superior to the other. They are simply different instruments meant for different categories of businesses.
Take this as an example: a Sage 200 is a large truck while Sage 50 is a small vehicle. A truck has a larger carrying capacity, but not everyone in the world requires a truck. There are people for whom a car is just perfect. Both Sage 200 and Sage 50 have their strengths in achieving their aims, albeit for different reasons.
The numbers in their names (50 and 200) somehow tell the category of business any of them is designed for. Sage 50 targets smaller categories of businesses while Sage 200 targets a larger category. Also, both can integrate with Microsoft 365 which is pretty neat if you are already using the applications.
The central distinction between Sage 50 and Sage 200 lies in the level of sophistication associated with each software. Both help you understand who owes you and assist in collecting relevant data. However, Sage 200, being a more sophisticated finance management software application, can perform more tasks in helping you control the whole cycle of business functions.
Sage 200 brings all business functions together into one integrated operation. If one is buying a certain item, the system simultaneously adjusts the inventory level, accounts receivable, and sales orders.
Hence you have ready information on what you have in stock for sale at any time. It allows for quick reaction to market demand while allowing for hassle-free modification of prices or goods in order to retain clientele. All this can be done regardless of whether you are in the office or not.
If you have a Sage partner, they might inform you that Sage 200 Evolution fits companies that, for lack of a better term, have outgrown basic tools for finance and operations management. Sage 50 becomes its alternative - this is for more advanced companies that are at a stage of being able to deal with the business where processes are rather intricate.
What are the features comprised of Sage 50? You get the following:
Sage 50 bookkeeping and accounting software is perfect for any business that needs to manage their different and complex business operations from one place.
In Sage 200 you get the following benefits:
And many more features. In case your business is expanding, it is more likely that Sage 200 will serve your needs. You do not have to wait till the present software becomes ineffective for the given task. Since all these additional aspects are included, maybe it is a good idea to go for Sage 200 now.
When choosing between Sage 50 and Sage 200, the size of the business and its internal progress anticipate what you want the business to become in the future.
Most small or medium-sized businesses will need software that is designed to perform a number of complex functions. In that case, Sage 50 accounting software might be just what you need. It is also ideal for businesses that are in their initial stage.
However, should your business experience growth, you may soon find that Sage 50 can no longer fully cater to your needs. At that point, you would most likely want to consider transitioning to Sage 200
Are you planning to work in the United Arab Emirates? Then you must know everything about the UAE Labor Card. This UAE Labor Card is your legal permit to work in the country, and understanding its requirements is crucial for all foreign professionals.
This guide will take you through everything you need to know about obtaining and maintaining your UAE Labor Card, ensuring your employment complies with local regulations.
A UAE Labor Card, also known as a work permit, is an official document issued by the Ministry of Human Resources and Emiratisation (MOHRE) that legally authorizes foreign nationals to work in the United Arab Emirates. This card serves as proof of employment and is mandatory for all employees working in the private sector across the UAE.
The Labor Card stands as an essential document for UAE employment rules. Modern HRMS software systems help organizations efficiently manage these Labor Cards along with other employee documentation. It serves multiple essential functions, acting as official proof of legal employment status while enabling access to various government services.
The card plays a vital role in facilitating smooth employer-employee relationships and ensures compliance with UAE labor laws. Through this documentation system, workers' rights and interests remain protected under the framework of UAE employment regulations.
Let us take a look at the eligible requirements:
To obtain a UAE Labor Card, applicants must possess a valid employment contract with a UAE-registered company and maintain a passport with a minimum of 6 months validity. An entry permit or valid residence visa is essential, along with educational certificates properly attested by relevant authorities.
Applicants must also provide recent passport-size photographs and undergo health certification from approved medical centers.
Companies seeking to issue Labor Cards must maintain several crucial documents. These include a valid trade license demonstrating their legal operation in the UAE, an establishment card, and quota approval where applicable. The company must also possess economic activity approval aligned with its business operations.
The application process for a UAE Labor Card follows a structured timeline that typically takes between 2-3 weeks to complete. Understanding each step helps ensure a smooth application experience and prevents unnecessary delays.
The process begins when an employer submits a preliminary application through MOHRE. This submission must include a comprehensive package of documentation, including a completed application form, valid passport copy, educational certificates, employment contract, company trade license, and recent photographs. The employer handles initial application fees during this stage.
Following document submission, applicants undergo a thorough background verification process and security checks conducted by relevant authorities. A mandatory health screening at approved medical centers follows, testing for specific conditions as per UAE requirements. Upon successful completion, a medical fitness certificate is issued.
The final stage involves processing the complete application package. After payment of the remaining fees, the physical Labor Card is issued to the employee through their sponsoring company.
Maintaining an active Labor Card is vital for continued employment in the UAE. The validity and renewal processes are designed to ensure continuous legal work status while allowing authorities to maintain updated records of the workforce.
The standard validity period for a UAE Labor Card spans two years, though this duration may vary based on employment contract terms. Limited-term contracts might carry different validity periods, reflecting specific employment arrangements.
Labor Card renewal should commence 30 days before expiry to ensure continuous validity. The process mirrors the initial application in terms of documentation requirements, including an updated medical examination. Renewal fees apply, and timely processing ensures uninterrupted employment status.
The financial aspects of obtaining and maintaining a Labor Card involve several components. Initial issuance requires payment of application processing fees, a security deposit (which remains refundable), medical examination charges, and card issuance fees.
For renewals, costs include processing charges, updated medical examination expenses, and card replacement fees if necessary. Fee structures may vary depending on company classification and other factors determined by authorities.
The UAE Labor Law establishes a clear framework of rights and responsibilities for both employers and employees regarding Labor Cards. Such knowledge of the responsibilities is important in the observance of the working relationship and avoidance of any working legal issues.
Employees must maintain a valid Labor Card throughout their employment period. They bear responsibility for informing their employer of any changes in personal information and must present their card when requested by authorities. Upon employment termination, employees must return their cards following proper procedures.
Employers hold significant responsibilities regarding Labor Cards, including timely processing and payment of associated fees. They must maintain accurate employee records and ensure card renewal before expiration dates. This proactive management helps maintain compliance with labor regulations.
While the Labor Card system is well-structured, certain situations may require special attention and specific procedures. Understanding how to handle these common issues helps minimize disruption to your employment status and ensures compliance with UAE labor regulations.
When a Labor Card is lost or damaged, immediate action is required. The employee must report the incident to both their employer and MOHRE, and file a police report in case of loss. A replacement card application follows, accompanied by necessary fees. New cards are typically issued within a specified timeframe established by authorities.
Labor Card cancellation becomes necessary in several situations, including employment termination, company closure, transfer to a new employer, or permanent departure from the UAE. The cancellation process must follow official procedures to ensure proper documentation of employment status changes.
Operating without a valid Labor Card carries serious consequences in the UAE. Both employers and employees face heavy fines, and employees risk possible deportation. Companies failing to comply with Labor Card regulations may face legal action, and individuals may encounter difficulties in future employment opportunities. Additional penalties apply for delayed renewals, incorrect information submission, unauthorized employment, and document falsification.
The introduction of digital Labor Cards has modernized the employment documentation system. These electronic versions integrate seamlessly with Human Resource Management Solutions (HRMS), offering digital verification capabilities, quick access to employment details, and seamless integration with government systems. For human resource management teams, this digital transformation has significantly streamlined workforce documentation processes.
The UAE government provides comprehensive support for Labor Card-related matters through MOHRE customer service centers, an online support portal, and a toll-free helpline. Many organizations utilize HRMS software to track and manage their Labor Card applications and renewals. Additional assistance is available through authorized typing centers, licensed PRO services, government service centers, and legal consultants who specialize in employment documentation.
Successful management of UAE Labor Cards requires attention to detail and proactive planning. Advanced HR management systems help organizations maintain compliance by automating renewal reminders and document tracking. Maintaining digital copies of all documents, setting renewal reminders, and keeping personal information updated helps ensure compliance.
While processing times may vary and specific sectors might face additional requirements, staying informed about regular updates to regulations helps maintain proper employment status in the UAE.
If you wonder whether Dubai's luxury villa investments will pay off or not then the following article would be the one for you. As to the performance of the luxury residential property market in Dubai, it is worth mentioning that in the last fiscal year, even surpassing such markets as Hong Kong and London, Dubai has secured the first position in the world ranking - luxury property prices increased by 44.2%, according to a report by Knight Frank.
The booming luxury villa market of Dubai has been attracting institutional investors and high-net-worth individuals for quite a long time now, proving itself to be an investment destination for luxury properties even better than markets such as London and New York.
When it refers to the global real estate markets, the highly obtained villa sector of Dubai is certainly worth mentioning. These luxury residences are usually from AED 5 million and above and have great design, enticing locations as well as top-notch facilities. Palm Jumeirah, Emirates Hills, and Dubai Hills Estate for instance have become the prime areas for investing in luxury villas.
The market has turned out to be very strong with the passage of time. It is exemplified by the Palm Jumeirah region where the value of the villas increased by 25-30% within the period of 2020 to 2023 which is higher than many other supreme housing prices across the world.
Dubai luxury villas market recent statistics provide positive news on the luxury villas in the Dubai market. Transaction activity has shot up with a majority of the transactions being in the upper-end areas. The foreign investor level has also gone up significantly and buyers from the Europe-Eastern region, Asia-Pacific, and North America are now coming to purchase the expensive properties in Dubai.
Luxury Villas have remained insulated even during harsh economic climates, which is quite commendable. This means that while some property sectors may show signs of volatile cycles, luxury villas especially those within developed regions, have been able to maintain their worth and even increase it over trying times.
Numerous factors contribute to the success of the luxury villa market in Dubai. It is also necessary to appreciate these factors for any individual who wants to venture into this luxury property market.
The East-West axis along which the great city is located, coupled with the Development in Dubai, is attracting both foreign and local investors. The city’s modern means of communication as well as its improving options of communication by road, air, and metro to business areas within easy reach of luxury villa estates adds value to the properties.
In order to safeguard the interests of the investors, especially in real estate, the Land Department of Dubai has devised some rules. The Real Estate Regulatory Agency (RERA) takes charge of property dealings and promotes an investment strategy that contains less risk by enhancing transparency.
Advances in property management systems have redefined the management of high-end properties in Dubai. In particular, these sophisticated applications assist the investors, as well as the property managers, in carrying out activities such as maintenance, financial reporting, and many others effectively and efficiently. This feature of the technology allows the real estate owners in Dubai to manage their real estate investments from any location in the world.
One of the primary reasons for the interest of overseas investors in Dubai is the country’s tax incentives. There is no tax on properties owned neither is there tax on income, while luxury villas can earn another 5-7% returns from rentals making it worth investing over here. Also, there has been an appreciation of the property costs in these hotspot areas compared to many other countries across the world.
Although most of the investors prefer luxury villas in Dubai, it comes with certain challenges that the investors should shed their minds and comprehend before any sound investment decisions are made. Such strategies can be important as certain risks can be taken when incurring such expenses.
As there are many luxury developments ongoing already, when will this good thing called economic growth turn into a bad thing and reach oversupply? The question arises in the minds of many. But thanks to the ever-increasing population and the international buyer’s relentless purchasing, this fear of excess properties is happily unfounded in Dubai.
Managing luxury real estate is not only demanding but also requires a lot of resources. Nowadays, real estate management software is employed by most property owners to manage tenants, maintenance, and financial records. Such programs for the management of tenants make it possible to uphold high standards while easing management tasks.
Investors in luxury villas in modern times have also to consider the ecological factor in their investments. Many of the new constructions are coming with green features, designs, and energy performance systems that not only influence global costs but also recurring operational costs. These may add to the primary cost of development but in the long term, they significantly reduce operational costs and increase the values of properties.
High-end villas require regular expenses in excess of a normal household in order to preserve their worth. Standard yearly maintenance amounts to somewhere between 1-2% of the worth of the real estate, an expenditure that ought to be factored into the budgets of investors.
The luxurious villa market available for investment in Dubai edges on high-end penetration and therefore requires a mix of property management skills and modern property investment techniques.
Increasingly successful investors are turning to property management software in order to maximize their investment returns. These offer complete property management services that include solutions for:
The best locations continue to offer the highest potential for value growth. Areas like Palm Jumeirah and Emirates Hills have consistently shown strong value retention and growth. Newer luxury communities like Dubai Hills Estate and District One offer opportunities to invest early with good potential for value increase.
Various kinds of villas meet various market demands:
The luxury villa rental market works for both long-term tenants and short-term holiday rentals. Long-term leases provide steady income, while holiday rentals can earn more during peak seasons. Professional real estate software and tenant management software platforms have made managing both types of rentals easier, handling everything from bookings to maintenance requests.
Real estate in the form of luxury villas will probably always appreciate and generate good returns from rentals in Dubai. The economy has its flaws, but very basic components like location and regulation with accompanying tax breaks keep it stable.
Generally, it is believed that it is highly dependent on the right mix of assets, well-conducted research, and most importantly a long-term view. However, for those investors who are able to deal with the above-mentioned factors appropriately, Dubai Luxury Villas as one of the segments of real estate investment still remains attractive in the global real estate market.
Cash flow is the lifeline of your small business. When money moves smoothly in and out of your business, you can pay your workers, suppliers, rent, taxes, and other costs on time. Getting this balance right can be tricky. A recent study shows that nearly 3 out of 5 small business owners struggle with cash flow.
Having money on hand also lets you invest in your business. Sometimes you need to spend money to make money on things like tools, technology, marketing, branding, and hiring staff. In this article, we will show you how to improve and manage your cash flow using Sage 50 accounting software.
Here are some ways in which you can improve cash flow management with Sage 50
When you look at your finances in Sage 50, you might see that some customers are slow to pay you. This can cause big problems with your cash flow, especially if you've already spent money on materials and suppliers like you might have to in building work, for example.
A. Use Sage 50 to Find Ways to Get Your Money Faster.
You could set up electronic payments directly from invoices, and make sure your invoices look good and professional using Sage 50's templates. You can encourage customers to pay their bills by offering discounts if they pay early. Even if you make a bit less profit, it's often better to get the money in your hand quickly.
B. Be Careful With Customers Who Have Bad Credit.
There's always a risk when you give credit, but you can reduce this by asking customers to fill out a form before you let them buy now and pay later.
C. Making a Sale Might Not Be Worth the Trouble of Late Payment.
If needed, charge them interest as outlined in a clear credit policy that explains exactly how you've let them buy on credit.
How you do this depends on what you sell and what people want. For example, you could raise your prices if you think customers will pay more. You might sell less but you could make more money.
Use Sage 50 to research 3 things about pricing:
It's not just about managing money coming in. You need to handle what's going out too. Here's how you can do that with Sage 50:
Find ways to manage your payable better. Using Sage 50 accounting software in the cloud and making electronic payments will make it easier to see when money goes out. You can schedule your payments, so it doesn't hurt your cash flow at a bad time or take too much money out of your account at once.
Keep friendly with suppliers and lenders, as it might help you get better payment terms. They might be more flexible than you think, but they won't help if you don't ask.
There could be any difficult times you might have to face while running your business. While the pandemic made many businesses look for loans and grants to keep going and pay workers, today's changing economy still has its challenges. Make sure your business can survive if you run short of cash. Act fast and decisively to turn things around follow points 1, 2, and 3 above to do this with Sage 50 accounting software.
Even if your cash flow looks good, sometimes you need to borrow money to get extra funds. Maybe you want to grow your business or need new equipment. You might need extra stock to fill a big order. Taking out a loan can be a good way to get working money if you're clear about why you need it and can pay it back over time or early to save on interest.
Here's a quick list of some options you can track in Sage 50:
1. Bank loans: If you want to go the traditional way, banks are good for loans as you might already have an account with them. But they might be slower and have more rules than newer lenders.
2. Non-banks: Non-banks are money lenders that don't offer normal banking services. Non-banks usually have fewer requirements than banks. New tech like apps and online communities means you have more choices than ever for borrowing.
3. Invoice finance and asset-based lending: This is especially useful if customers are slow to pay their bills. Basically, invoice financing lets you use your unpaid bills as security for a loan. You pay a fee to the lender for borrowing the money.
4. Invoice factoring: With invoice factoring, you sell your unpaid bills instead of waiting for the client to pay, usually for about 70% to 90% of what they're worth. Once the client pays the factoring company the full amount, the company then pays you the rest. They'll charge you a fee, usually about 1% to 5% of the total bill.
5. Business line of credit: Also called revolving credit, this is where you borrow money either all at once or in smaller amounts until you reach the agreed limit. Each time you borrow becomes a separate loan to be paid back on a schedule. As with any loan, you pay interest. Unlike an overdraft, you don't have to go into the red on your bank account to use a line of credit.
Making sure you can meet your client's needs while also avoiding tying up cash in stock and paying for storage is tricky, especially when so much is uncertain in every business area.
Good inventory management is crucial. Like with money management, regular forecasting helps. You can use Sage accounting software to for regular checks with customers, suppliers, market trends, and analysis of past sales.
Here's a simple example: If you're running a grocery store, you will need to watch the weather as it'll help you know when to stock up on barbecue food or hot chocolate and comfort foods. Keep these in mind:
On the other hand, make sure you send out orders quickly and carefully and be ready to get rid of stock that won't sell.
If you follow these practices, you can easily improve your cash flow management. Along with these practices, think about using Sage 50's cash management features to make your money processes smoother. More than that you can reach out to a Sage partner like Penieltech who can help you make smart decisions and keep a steady positive cash situation.
The rental market in the UAE, especially in Cities like Dubai and Abu Dhabi, is very active and even more competitive. It doesn’t matter if it’s your first time to rent an apartment or you are simply renewing your lease; knowing how to go about stirring up a negotiation is important because it can save you an entire chunk of money and secure you a better offer.
In this article, let us see:
Evaluating the property market before any interactions with the other party is essential. The market is determined by the outside environment as property prices and rental rates are subject to causes such as reservation, level, and demand. Tracking these and other local real estate market trends has been made possible due to real estate management services.
The first stage in the process of negotiations on rent or lease and non-residential property is a well-structured market analysis. Practically, start with similar houses in the area of your interest and find out what the prices are for such properties around you.
It would be of value to examine past rent rates as they may help in understanding rents and rent fluctuations during certain periods. One other factor that can assist in these discussions is the knowledge of different areas and their occupancy rates.
Property management software is widely used by landlords and real estate agencies, to collect data analyze market trends, and determine the pricing for existing and new buildings. Non-expert tenants may also appropriate this data during negotiation processes.
The timing of your rental negotiation can significantly impact the outcome. The UAE rental market experiences distinct seasonal patterns that savvy renters can leverage to their advantage. During the summer months, when many expats leave the country, landlords are often more willing to negotiate favorable terms.
Another great period to bargain rent is December when landlords are generally keen on finding tenants before the onset of the new year. For people already renting, it is ideal to start the negotiations at least two months before the expiry of the current lease to give time to weigh other options.
The modern tenant management software enables property managers to monitor lease expiration dates and prevailing market conditions enhancing their readiness towards the negotiation operations.
When it comes to renting agreements in UAE there are some essential documents to attach. Prior to the ease of the discussion, for example, a place to stay, a range of dated documents has to be completed. It is necessary to have your valid passport, and visa in addition to your Emirates ID.
A potential landlord would also ask for proof of employment such as a salary certificate and the recent three months’ bank statements. This is particularly true for those who have previously occupied rental houses as a copy of the previous tenancy contracts may show you are a trustworthy tenant.
Before commencing rental negotiations, adequate financial management should be done. Assess your ceiling above where you are willing to pay and make sure it includes carry-on cost centers like the security deposit, agents, and utility connection charges.
Assess whether the payment will be done annually or if a bank would issue several cheques over the year. Moreover, do not forget to include possible maintenance costs that will be incurred during your stay on the property.
There have been considerable changes in rental payment practices in the UAE. Although traditional single-cheque payments are preferred because they command a better rate, the rates have become more flexible. Today due to modern real estate software designs, landlords are ready to agree to a set of different payment schedules rather than stick to the old and inconvenient way of paying rent in full at the beginning of the rental period.
For example, you may want to offer higher rent, but cheques will be limited to two to four. Or ask for more which is six to twelve for maximum convenience. Additionally, some landlords may also accept advance rent with subsequent post-dated cheques.
The incorporation of property management software has changed the entire process of dealing with maintenance issues in a rented property. Ensure to use this in your favor when talking about the maintenance aspects.
Agree on specific maintenance duties including how long it will take to handle each of the problems. In this context, think of requesting a cover for repairs of certain appliances and yearly service contracts. Clearly spelling out these provisions will save you both time and costs in the course of the tenancy.
In the UAE rental market, longer lease terms usually tend to bear lower rates. You may therefore find it necessary to try and work out contracts for two years but at fixed prices so as not to ‘lose’ due to market fluctuations.
For instance, there are also three-year contracts with clear stipulations on how much increments would be allowed after certain periods within the contract. Additionally, remember to bring up the issue of early renewals with regard to their favorable impacts to the tenant and the landlord as well.
Leased properties using real estate management software often come with other ancillary terms that are allowed to be bargained for. For example, it would be appropriate to talk about complimentary parking spaces, storage units, or even a gym membership as part of your lease agreement.
The same is true for some tenants in which the addition of an air conditioner fee or internet package is negotiated which can help in potential savings during the entire period of the contract.
As negotiations progress, pay attention to prices that seem suspiciously low as they are likely to be red flags for possible fraud or problems with the property. Don’t allow anyone to rush you into making a decision on something that is not supported by any papers.
Request for formal agreements and make sure that all the contracts are filed with the respective agencies. The absence of proper tenant management software installed in the property may denote a less professional management that may cause problems in the course of the tenancy.
Immediately after the negotiations are over, make sure the terms that were settled upon are put down on paper. Assess the agreement monthly worrying about when it is necessary to deal with revisions of maintenance obligations, schedules for payments, and any other verbal agreements.
Obtain copies of everything kept in file and in digital form, confirming with the relevant officials that all the said agreements have been filed appropriately. Most nowadays property management software has the advantage of protecting these necessary files like a safety vault.
Effective rental negotiation in the UAE is a function of proper planning, in-depth knowledge of the market, and the right timing. Every real estate process has undergone advancement due to the use of property management software and rental management software.
With this knowledge coupled with modern technology, as a tenant, you can negotiate the best possible rental terms to suit their preferences and finances.
As a business owner or manager of a manufacturing business, your focus is always on finding the best possible means to simplify processes and enhance productivity and profitability. Sage 200 is professional and well-built finance management software that comes with countless benefits aimed at ensuring that your manufacturing business succeeds in the current highly competitive economy.
However, there are five main advantages of Sage 200 worth considering. In this article let us explore the top 5 benefits of Sage 200 for your manufacturing business. Let us get started.
Now let us see what are the top benefits that this amazing bookkeeping and accounting software Sage 200 can bring to your table.
One of such huge advantages of Sage 200 for those involved in manufacturing sector is the way it gives a chance to a businessman to integrate production with the internal financial processes. Such integration allows you to see every detail of the operation where incubating, processing, and making decisions supported by facts, and data figures.
In fact, with the use of Sage accounting software, a manufacturing manager is able to ascertain the effect of the production-related choices, control the production expenses keeping them within the limits, and define the profit margins of manufacturing different types of products.
Such visibility increases allow the production manager to pinpoint areas in the production processes that create limitations, enhance the deployment of resources and take measures that will promote effectiveness based on facts.
The Sage 200 has an integrated approach, which also eases your reporting. You can easily issue detailed management reports that include information from both manufacturing and finance departments to portray the overall performance of the company.
This simplified reporting feature helps to quickly carry out an operating review of a manufacturing business and its performance in a specific period, determine how to cut costs, and what specific range of products or product lines are not performing well economically.
Proper management of inventories is very important for manufacturing companies and Sage 200 provides enhanced capabilities for rationalizing stock levels and decreasing the cost of storing the inventory while increasing efficiency.
When utilizing Sage 200, you are able to see the inventory levels in different locations in real time. This feature is useful as it helps to check stock levels, avoids stock outs and overstock situations, and helps in making decisions regarding reordering and production scheduling.
For manufacturers who handle food products or any other goods that need to be traceable, Sage 200 is capable of enabling batch and serial number tracking. This allows you to ensure that all quality assurance practices meet the set industry standards without difficulty and where a specific batch has to be labeled and pulled from distribution, those logistics are able to be made.
Production planning and control is a prerequisite for satisfying customer needs without wasting resources. Sage 200 comes with several functionalities that will help you achieve production planning and control holistically in your manufacturing company.
The application offers powerful capabilities for managing bills of materials, including the creation of precise bills of materials for multiple products, the ability to monitor materials used in building those products as well as to compute costs related to those products. Updating can be done easily as the changes in product specifications vary guaranteeing that the production processes do not operate with outdated data.
Sage 200's manufacturing scheduling mechanisms will enable you to design the most effective approach to the production cycle of your company. You can perform forward scheduling or backward scheduling of production orders with full resource management under the issued customer order or sales forecast and also react to changes in the market demand or resources.
The features that come with Work Order Management in Sage 200 optimize your production processes by enabling order creation and tracking with ease, allowing you to oversee production runs in real-time and collect actual costs for comparison with estimated ones.
Whereas many manufacturing companies prioritize production processes, the aspects of managing customers cannot be overlooked when considering long-term business viability. Sage 200 offers a robust CRM module that can help you keep your clients happy and ultimately increase revenue.
This CRM module enables the creation of a complete database regarding the customers, allowing you to view and access everything about the customers even including their sales, support, and communication. This makes it possible to serve the client better allowing the sectors to share this data in case it is needed within other sectors.
Other CRM capabilities available in Sage 200 further allow for effective management of the sales pipeline, where lead and opportunity tracking is done throughout the sales cycle, sales can be predicted better with respect to the sales pipeline, and sales problem areas are clearly defined.
In the current business world where decisions are driven by data, it is imperative that there are strong business intelligence and reporting tools available. Sage 200 has advanced analytics and reporting tools that can help put your manufacturing business on another level.
The software comes with a feature that has dashboards that can be customized to show key performance indicators in a single view. The purpose of these dashboards is to provide a live dashboard of critical business metrics, providing role-specific views, enabling rapid examination and solution identification of trends and issues potential in the business.
Sage accounting software empowers users to conduct advanced analysis of financial and operational data across multiple dimensions, looking for relationships between various business entities, and discovering data that can enhance processes and economize revenue.
Sage 200 reporting options are sufficiently flexible for your manufacturing business. Ready made financial reports can be easily produced, bespoke reports can be made as per one’s needs, and the generation and sending out of reports can also be programmed into the system.
The implementation of Sage 200 in a manufacturing business can offer multiple advantages such as more efficient workflow systems and increased management effectiveness. This article has highlighted five main advantages of Sage 200 finance management software can help your business to prosper considering the current competitive environment in the manufacturing sector.
Also, as you plan on replacing your business management software, think about how new features in Sage 200 would suit your type of manufacturing business operations as well as your aspirations for the company in the future. Most companies opt to work with a Sage partner so that they can enjoy the smooth implementation of the Sage application and maximization of its advantages.
