When you start a business or a company, you need a reliable service to develop and maintain your company’s overall financial processes and transactions. That’s where bookkeeping and accounting come in. Bookkeeping and accounting both deal with financial data. However, they are not the same.
Bookkeeping pertains to keeping records of financial transactions and organizing financial information. It ensures the systematic and effective collection of daily financial transaction data and performing relevant day-to-day transactions such as invoicing and payroll management.
Accounting involves interpreting financial data. Accountants prepare financial statements, analyze financial information, and present their findings to business owners and investors. The insights gleaned from accounting processes inform stakeholders about the financial health of the organization and can provide operational direction.
Innovex is one of the leading accounting and bookkeeping companies in Dubai. We can manage payroll, create financial reports, perform account reconciliation, prepare bank statements, and help clients navigate the ever-changing world of federal taxes. We can handle the five primary account categories of liabilities, assets, revenue, equity, and expenses.
We provide an extensive range of financial management, accounting and bookkeeping services. You can count on us if you need support with accounting and bookkeeping in Dubai.