Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Gemstone and Jewelry Industry
Quality Driven Approach
QuickBooks And Xero Certified Experts
50% Reduction
In Costs
Part Time / Full Time Resources For
- CPA Firms
- Enrolled Agents
- Bookkeeping Firms
- Tax Practitioners
- Business Owners
Hire Remote Team
Certificate Expertise
Freshbooks
Freshbooks
Freshbooks
Freshbooks
Bookkeeping Software Expertise
saasu
wave
Freshbooks
odoo
Xero Gold Partner
zoho books
simply accounting by sage
yendo
“& many more”
Our Services
VAT Return
File accurate and timely returns, meet tax compliances and avoid the possibility of hefty fines and penalties being imposed by UAE tax authorities.
Monthly Financial Statement
Get a clear view of the financial health of your organization with monthly financial statements prepared by professional accountants or certified public accountants.
Accounts Receivable Management
Manage your outstanding invoices, improve chances of getting paid within a reasonable timeframe and accelerate your cash flows with the efficient internal system.
Accounts Payable Management
Build a robust and organized accounts payable process to make payments efficiently, cost-effectively and accurately, thus lowering the cost of operations of your business.
Reconciliations
Reconcile and match all your balances to eliminate the chances of irregularity in accounts and avoid any discrepancy between the stated balance and the actual balance held.
Cash Flow, Budgeting and Forecasting
Understand your cash flows and prepare budget forecasts with ease and accuracy based on our data-backed projections and analysis.
Accounting Services
- Records, Bookkeeping and Cash Reporting systems implemented
- Maintenance of Monthly Books
- Monthly Reports of Financial Statements
- Bank and Ledgers Reconciliation
- MIS Reporting (Yearly)
- ESR Review
- Internal Audit and Review
AED 499/-
Price Table
- AED 500/- month from 1 to 100 transactions
- AED 1050/- month from 101 to 400 transactions
- AED 1400/- month from 401 to 700 transactions
- AED 2000/- month from 701 to 1500 transactions
- AED 3000/- month from 1501 to 3000 transactions
We are the 1st choice of businesses for accounting and bookkeeping services in UAE. Here’s why!
Cost Savings Up To 50%
Reduce up to 50% of your operation costs and save huge costs on hiring and training in-house employees. We offer cost-effective online accounting and bookkeeping services that start at as low as US $10 per hour.
Skilled Team
We have a dedicated and skilled team of certified professionals who have in-depth knowledge and understanding of how bookkeeping works in different industries in the UAE. We have a time-tested and proven track record of over a decade for being one of the best bookkeeping and accounting firms in the UAE.
Quick Turnaround
We ensure quick turnaround time and hassle-free operations. We guarantee 24 hours TAT in most cases. However, the turnaround time depends on numerous factors such as project size, complexities involved, type of project and urgency of deliverables, among other things.
Robust Infrastructure
With a world-class infrastructural setup and productive resources, we ensure uninterrupted and timely services to our clients. We have a highly advanced infrastructure to support every latest technology that comes in the field of accounting.
Security and Privacy
Meru Accounting is an ISO 9001:2015 & ISO 27001:2013 certified company. We strictly follow all the safety and security norms to protect the confidentiality and secrecy of our client’s critical data.
Real-Time Access
Because of cloud-based accounting, you get access to your real-time bookkeeping and accounting records, financial data and reports anytime and from anywhere. Your numbers always remain at your fingertips.
Flexible Engagement Model
You can anytime scale up or scale down our services as per your requirements. You can hire us on an affordable hourly rate basis or a fixed-fee arrangement based on your number of transactions per month, company size, number of employees and revenue.
Quality Service
We maintain high quality standards in everything we do. Our primary motto is to deliver quality services to our clients and within the given time frame. This sets us apart from our competitors.
Cloud AddOns Expertise
Cloud AddOns Expertise
Hubdoc
With Hubdoc, you can automatically import all your financial documents & export them into data you can use.
Gusto
Gusto offers fully integrated online payroll services includes HR, benefits, and everything you need for business.
Spotlight Reporting
Attractive performance reports quickly and efficiently. Ideal for organizations that need deeper insight and analysis.
Receipt Bank
Receipt Bank converts those annoying bits of paper – receipts and invoices – into Xero data!
AutoEntry
AutoEntry captures, analyses and posts invoices, receipts and statements into your accounting solution.
Shopify
Connect Shopify and Xero to effectively manage your online sales, inventory and accounting requirements.
Accounting and Bookkeeping for Gems & Jewelry Exporters in the UAE
The United Arab Emirates (UAE) has long been renowned as a global hub for the gems and jewelry trade. The country’s strategic location, world-class infrastructure, and favorable business environment have attracted numerous gems and jewelry exporters. However, like any other industry, maintaining accurate financial records is crucial for the success and sustainability of gems and jewelry businesses in the UAE.
Gems and Jewelry Business is all about elegance, craftsmanship, and making lasting impressions. However, proper financial management is crucial for the success and growth of any business. In the world of gems and jewelry export in the UAE, where every piece is a work of art and every transaction is a masterpiece, the importance of accounting and bookkeeping cannot be overstated. These financial practices may not glitter like gemstones, but they provide the foundation upon which the sparkle and allure of this industry rest.
Core Aspects of the Gems & jewelry Exporters in UAE
Global Market Presence:
One of the core aspects of this industry is its global market presence. UAE-based exporters enjoy access to an extensive international customer base, spanning across the Middle East, Asia, Europe, and North America. This global reach not only offers vast business opportunities but also necessitates robust financial management to handle cross-border transactions and varying currencies.
Precious Materials:
Dealing with valuable gemstones and precious metals is a defining feature of the gems and jewelry export sector. These materials are not only prized for their beauty but also for their substantial financial value. As such, stringent record-keeping is required due to their high worth and the regulatory requirements that govern their acquisition, processing, and export.
Foreign Investment Hub:
The UAE actively encourages foreign investment in real estate, making it a hotspot for international buyers and investors. Favorable tax policies and ownership regulations attract global investors.
Customs and Compliance:
Gems and jewelry exports entail adherence to strict customs and compliance regulations. These regulations are in place to ensure ethical sourcing, fair trade practices, and quality control measures. Accurate documentation is essential to demonstrate compliance, build trust among customers worldwide, and avoid legal complications.
Fluctuating Prices:
The gems and jewelry industry is susceptible to fluctuations in the prices of gemstones and metals. The value of these materials can change rapidly due to market dynamics, geopolitical factors, and supply and demand shifts. This emphasizes the need for real-time financial tracking and precise inventory management to safeguard against unexpected financial challenges.
Why do we need accounting and bookkeeping for the Gems & jewelry Exporters in the UAE?
Currency Exchange Management:
Given the international nature of the gems and jewelry trade, exporters often deal with multiple currencies. Accounting and bookkeeping help in managing currency exchange fluctuations and ensuring accurate financial conversions.
Credit and Cash Flow Management:
Effective bookkeeping helps in monitoring accounts receivable and accounts payable, ensuring that the business maintains a healthy cash flow. This is vital for meeting immediate financial needs, such as purchasing raw materials or paying suppliers promptly.
Record Retention:
Gems & jewelry Exporters need to keep records for an extended period due to regulatory requirements. Professional accounting and bookkeeping services help in maintaining and organizing these records for easy retrieval during audits or compliance checks.
Business Valuation:
Properly maintained financial records can be crucial when valuing the business, whether for selling, mergers, or acquisitions. Accurate financial data supports fair and profitable transactions.
How can accounting and bookkeeping help the Gems & jewelry Exporters in the UAE?
Audit Preparedness:
Well-maintained financial records simplify the auditing process, ensuring a smooth experience during regulatory inspections or investor due diligence. This not only saves time but also showcases the business's commitment to transparency and compliance. It instills confidence in stakeholders, including investors, lenders, and potential partners.
Compliance with Legal Requirements:
Accounting and bookkeeping help Gems & jewelry Exporters in the UAE meet legal requirements such as tax filings and audits. These financial practices ensure that all financial statements are prepared according to regulatory guidelines, providing an accurate representation of the company's financial position. This compliance is essential to avoid penalties and legal issues that can disrupt business operations.
Enhanced Internal Transparency and Accountability:
Having reliable accounting systems in place enhances transparency within the organization. It promotes accountability among employees by providing a clear view of their performance metrics while also deterring fraudulent activities. This internal transparency fosters a culture of responsibility and integrity.
Building Credibility with External Stakeholders:
In addition to these benefits internally, proper accounting practices can also enhance credibility with external stakeholders such as investors, banks, and suppliers. By presenting well-organized financial statements backed by solid record-keeping processes, Gems & jewelry exporters can instill confidence among potential partners or lenders. Credibility and trust are essential when seeking external support for business growth and expansion.
Benefits of accounting and bookkeeping for the Gems & jewelry Exporters in UAE
Creditworthiness:
Accurate financial records and reporting improve the exporter's creditworthiness. Banks and financial institutions are more likely to extend credit or offer favorable terms when presented with well-documented financial statements.
Asset Management:
Efficient tracking of assets and liabilities ensures that the business can make informed decisions about acquiring, disposing of, or depreciating assets. This includes managing valuable inventory and equipment effectively.
Benchmarking:
Comparing financial performance against industry benchmarks and competitors provides valuable insights. Gems & jewelry Exporters can identify where they stand relative to their peers and adjust their strategies accordingly.
Financial Forecasting:
Accounting and bookkeeping enable accurate financial forecasting. This helps exporters anticipate potential financial challenges and develop strategies to address them proactively.
Business Continuity Planning:
Detailed financial records support the development of business continuity plans. In case of unexpected disruptions or emergencies, having a clear financial picture helps businesses navigate challenges more effectively.
Meru Accounting's Accounting and Bookkeeping services for the Gems & jewelry Exporters in the UAE
Accounting for Gems and Jewelry Business –
The Gems and Jewelry export industry is very huge. So, a wide range of risks like foreign taxes, gold prices, credit risk, currency fluctuation risk, etc. affect it. We at Meru Accounting believe in providing all-in-one solutions to all these complexions and cover accounting related to all the stated matters and much more.
Books of Accounts:
This industry has a very large exposure and the risk associated with it is huge too. So, it’s very important to update the books of accounts regularly. It is advisable to update books of accounts every fortnight so that receivables can be tracked and chased timely. Then only a company can have a proper look at its business and profitability.
Invoices and Receipts:
The Gems and Jewelry export industry deals with many clients and that too is situated in different countries. This makes the invoicing process a bit tricky and requires being meticulous. For that recurring invoices should be set up so that the invoices are automatically created in the accounting system and are matched with the receipts, and we have expertise in handling the same for our clients.
Receivables Management considering Gold prices:
The Gems and Jewelry industry has to deal with the changing prices of Gold in the international commodity markets. As the price changes, it affects the export business as well, and that makes it hard to manage receivables due to complex calculations. We at Meru Accounting carry out the accounting tasks related to it on time and with that managing receivables also becomes easy.
Inventory Management:
Inventory management is very essential and that too becomes a very serious task when inventory costs a mammoth amount. Understanding this need, we keep regular track of inventory and trade deals with our experienced team using the best accounting software that is suitable for our client’s business.
Manage Capital Cost:
Capital cost is the major contributor to a company’s profit. Gems and Jewelry businesses are generally highly profitable businesses given only if one adequately amortizes the capital cost against the receipts. Accounting for Gems and jewelry Business, We have expert professionals to look after this requirement so that any kind of error can be avoided.
Increase Profit:
Every business has the aim to make a good profit at the end of a financial year. But that requires neatly crafted financial planning. We aim to generate a high profit margin and budget the revenue accordingly. That leads our Gems and Jewelry clients to leverage their export businesses without any worry. In addition to that, as this is an export industry, we also look after the tax compliances related to many countries to help our clients deal with it very easily.
Furthermore, precise records ensure adherence to ever-changing regulations and tax obligations, safeguarding against penalties. Meru Accounting, with its specialized expertise in this unique industry, provides tailored solutions, from transaction recording to financial statement preparation. By entrusting their financial management to Meru Accounting, Gems & jewelry exporters can focus on their core business, confident that their financial operations will shine as brightly as their precious gems.
Hiring Virtual Accountant With Meru Accounting
Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.
We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.
Help you with switching from your traditional software to Xero and Quickbooks.
We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.
When you choose to outsource your accounting work with us, it benefits you in the following ways:
- 1. Cost-saving
- 2. Access to skilled and experienced professionals
- 3. Better management of books of accounts
- 4. Decreased chances of errors
- 5. Improve business efficiency
- 6. De-burdens in-office employee’s dependency
- 7. Better turnaround time
We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.
Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.
Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
- Cyberoam Firewall to prevent any kind of foreign threat.
- Dual-step authentication
- Implement anti-virus
- Limit user access so that login details are with a few people.
Meru Accounting work on some of the best accounting software’s like:
- Xero
- Quickbooks
- Netsuite
- Saasu
- Wave
- Odoo
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.
To book for trial, call us on our numbers or Please fill out the form here.
Our Work Information
We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.
Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.
BAS is generally required to be filed quarterly by various businesses.
Individual Business Owners
Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.
No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.
We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.
Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.
Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.
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CONTACT US FOR ANY QUESTIONS
Our office address
Global Production Team (India)
902, Shivalik Tower, Nr. Panchvati Cross Roads, Ahmedabad, Gujarat 380009,India
