Are you looking for the best VAT software in Dubai? If yes then before this first be clear about something, the list of software we are going to share is not lame all the accounting software is FAT-approved.
Since January 1st, 2018 VAT has been implemented in the UAE mandated by GCC. It is the best software solution that will be implemented in the supply of goods and services. this software solution is mandatory for businesses to record and maintain records for a minimum of 5 years. Explore our insights for answers to your VAT-related questions.
What is VAT?
Value-added tax is the major consumption tax that will be levied on the majority of transactions of goods and services. VAT is one of the famous indirect taxes that is used by more than 140 countries all around the world. VAT is a multi-point sales tax that is implemented at each level of the supply chain, from production to end-consumer sales. Businesses that function as tax agents or collectors collect VAT from end users, manage collected amounts, and submit the tax on the government’s behalf.
Input tax deduction is a mechanism used by businesses to offset the tax paid on purchases (Input Tax Credit or Input VAT) against the VAT earned on sales (Output VAT). Any unadjusted liability is subsequently remitted to the government, maintaining a balanced and responsible tax system.
List Of FTA – Approved VAT Accounting Software In UAE
Our professional VAT experts in UAE have prepared a list of FTA-approved VAT accounting software. As we told above FAT is a federal tax authority and its basic purpose is to monitor and regulate VAT in UAE. Not only this, FAT is also approved accounting software. Our team of UAE VAT experts has painstakingly chosen a selection of FTA-approved VAT accounting software, assuring your company’s seamless compliance with the Federal Tax Authority’s (FTA) requirements. While there are several accounting software alternatives available in the UAE market, not all of them ensure VAT compliance, putting both time and money at risk. Choosing a simpler VAT accounting solution is critical for streamlining company operations.
Given the variety of options available, choosing the correct VAT software in Dubai is critical. A bad decision not only wastes time and money but can also harm your business. To assist you in making your decision, we have compiled a complete list of FTA-approved accounting software designed for VAT compliance in Dubai, UAE.
Select cautiously to protect your company from excessive difficulties and to ensure a smooth and compliant financial path.
| Software Name | Validity | Price |
| Zoho Books | Till April 2020 | $3 |
| Saga Accounting | Till October 2020 | AED 345 |
| FirstBIT Accounting | Till August 2020 | AED 600 |
| E-VAT UAE/ ONE | Till October 2020 | AED2000 |
| TallyPrimer | Till August 2020 | AED 2340 |
| WebDesk ERP 3.0 | Till October 2022 | Contact Vendor |
| Sage | Till October 2020 | Contact Vendor |
| focus | Till August 2020 | Contact Vendor |
| ExpressTXR/ express VAT | Till October 2020 | Contact Vendor |
| Fortune next | Till august 2020 | Contact Vendor |
| R7 VAT | Till April 2020 | Contact Vendor |
| Visual Dolphin ERP | Till October 2020 | Contact Vendor |
Tips To Choose the Best Accounting Software In UAE
Efficient business administration hinges on tracking income and expenses, which accounting software makes easy. These systems automate daily accounting operations ranging from expense tracking to customer invoicing.
Notably, superior accounting software goes beyond ordinary activities by assisting in critical VAT compliance—an essential feature for every firm. Explore the enlightening tips below to make an informed choice for individuals looking for a dependable accounting solution.
Evaluate The Data Security
Prioritizing data security is critical when looking for accounting software. Begin by properly assessing the software provider’s security methods for safeguarding your critical data. Examine how the company stores application data, which is usually documented on its website. Those considering online accounting software must select a trustworthy cloud service provider with a secure HTTPS connection. The HTTPS protocol is crucial in encrypting system data during transfer to the software’s server, acting as a strong barrier against unauthorized access and improving the protection of confidential data from potential cyber threats.
Examine Important Features
It is critical to discover the important characteristics that fit your business needs when selecting the best accounting software. The capacity to create and customize invoices is essential for good financial administration, as is robust inventory management that includes stock movements and wastage tracking, and thorough tax management. A useful system should also provide visibility into payables and receivables, as well as the capacity to generate analytical reports for improved business performance analysis.
Outstanding accounting software further distinguishes itself by supporting multi-currency transactions, flexible invoicing formats, and customizable price levels. These extra capabilities elevate the program, providing a full suite that caters to a wide range of company requirements and distinguishes it in the competitive landscape.
Think About Versatile Scalability
Scalability is an important factor to consider when looking for the best accounting software for your company. Scalability extends beyond firm size to potential sales, invoicing volume, and other essential business factors. Assume a company now processes 100 invoices per day; this volume might quickly increase to 100 invoices per hour as the business grows. As a result, it is critical to select software that can easily manage these increased needs. When researching business software solutions, change your attention from fulfilling current demands to predicting future business growth in terms of both size and operational factors. This foresight guarantees that your chosen software is well-equipped to handle increased loads as your organization grows. Seek software solutions with versions customized to different business phases, ranging from entry-level editions to feature-rich models, to avoid the trouble of data movement as your company grows.
Evaluate Affordability
When selecting accounting software, keep your firm’s budget limits in mind. Examine the pricing model to ensure that it conforms to the features needed for effective financial management. Choosing solutions that provide free trials allows you to determine whether the features match your business needs firsthand. Following the trial, choose a plan that closely matches your needs, providing a cost-effective and bespoke accounting solution for your company.
Evaluate After-Sale Support
Choosing the correct accounting software entails evaluating the level of after-sales service supplied. Choose a solution that provides effective customer service over many channels such as phone, email, and live chat. The best accounting software guarantees a quick response rate and extensive expertise to quickly fix any issues that may develop, adding to the smooth running of your company’s financial operations. Prioritizing comprehensive post-purchase support ensures that you have a trustworthy partner to turn to in the event of a problem, thus improving the overall user experience and maximizing the effectiveness of the accounting solution of choice.
Choose ICT Information Systems System For Choosing Best Accounting Software in Dubai
ICT Systems LLC, a pioneering platform in enterprise resource planning (ERP), stands out as a critical tool for firms seeking efficient financial management. This leading software company provides accounting, audit, ERP I implementation, accounting software, and international tax services to small- and large-scale enterprises. ICT Information Systems LLC with a global footprint, positions itself as a strategic partner for businesses on all continents, leveraging its knowledge to assist organizations in selecting the most appropriate systems and procedures. Choose ICT Information Systems LLC for a transforming financial management experience. For exceptional help geared to your specific business needs, bypass the ordinary and connect with greatness.
Final Verdict
Implementing an excellent accounting software system is a strategic step for organizations looking to optimize financial procedures. Meeting the perfect solution that meets your individual goals and needs is important for improving business operations. Whether you run a large business or small business the right accounting software will help your company to improve its accounting management and overall success. Make a prudent investment in a comprehensive accounting solution to move your company forward, assuring smooth financial operations and simplifying strategic decision-making for long-term growth.
