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Best Accounting Software for Your Business in UAE
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There are various accounting and business management software available which can be overwhelming for any manager to pick the right one for their specific firm. If you already hired external accounting services, then you need not worry about investing in software as they will have one. But if you have an internal accounting team, then you need to pick the right accounting software. This is a crucial factor as some packages are branded as the best for every business, size or type while some are tailored to be more business-specific. Almost all softwares can handle basic accounting functions effectively. The real difference in the softwares include user interfaces, add-on functions and special features.
There is no sensible way to rate accounting softwares without refining them. No accounting softwares are perfect for all users/businesses. This list focuses on medium-sized businesses ($05m – $250m) and softwares designated as ERP (Enterprise Resource Planning) for advanced business management.
The list includes both popular brands as well as less familiar brands. Being a familiar brand doesn’t mean it suits specific user’s requirements and a lesser-known brand might be the best choice. Here is the list of the top 5 ERP softwares in Dubai and other Emirates in the UAE.
1. Zoho – FTA Accredited software
ZOHO Accounting Software stands out from the crowd thanks to its versatility and capability to integrate with countless popular programs used by millions of people. Cloud storage is seamless when you use the box, Dropbox, Google Drive, or others. Its mobile apps are available for iOS, Android, and even Windows Phone, so you'll never be disconnected from your work. You'll be able to manage purchase/sales orders, billing, payments, taxes, and banking while keeping a track of estimates, projects, and operations.
2. Tally ERP 9
Tally ERP 9 comes in a variety of configurations, each tailored to a specific function, company type, or user. All versions begin with the Tally.ERP9 preset features and new features are subsequently customized to meet the target business users. Tally. ERP9 is marketed as "the complete business management solution" and has around a million customers throughout the world.
Audit support, tax records, support for multi-location enterprises, support for several businesses etc. are among the many company management features available. Powerful connectivity is also included to keep records of multiple locations' updated.
3. ODOO Open source ERP and CRM
If you are sick of running behind your staff to do tasks for your company which an ERP system could complete on its own easily, then ODOO is best recommended. You might be having many standalone softwares that may do the job, but don't communicate with one another. This calls for you to quadruple your efforts in supplying them all with data separately. These are some of the common problems faced by our clients and companies that want automated solutions using ERP system where 100% of the processes sync with each other efficiently.
Our knowledge of the world's most popular ERP, Odoo, allows us to configure it exactly as per your company’s needs that we guarantee a 50% reduction in man-hours spent by employees handling de-synchronized software and applications. There's no denying why Odoo is currently used by 7 million people all around the world to develop their businesses dramatically.
4. Quickbooks Accounting software
Intuit Quickbooks is one of the widely recognized accounting softwares worldwide. Quickbooks Enterprise ERP is considered one of the best business management applications in the market. Some of its key features include an easy-to-understand user interface with intuitive functions. Almost 90% of the professional accounting firms use Quickbooks as part of their accounting software toolset. They are also well-versed with the file formats of Quickbooks so that users can send the data straight away to their accounting services.
You will also find customized solutions that cater to the needs of certain industries. Quickbooks Enterprise software is best suited to mid-size businesses up to $250 million. A bigger business may gain from a more professional-focused app.
Fully trained accounting experts will find the software bit isolating as it keeps technical accounting terms and functions hidden. There is a subscription option with hosting for data access anywhere, anytime.
5. SAP ERP
SAP ERP is a popular and widely used company management solution from SAP, a top software giant. It brags of 50,000 customers, 37 languages supported, and 45 localizations. It offers business solutions for product development, human resource management, fundamental financial processes, and a variety of other functions. The latest release of SAP S4 Hana has considerably upgraded the user experience.
Other accounting software solutions
Epicor ERP and Epicor Cloud
Epicor is another software provider that focuses on fast-growing companies. Epicor offers two types of ERP software: Epicor ERP and Epicor Cloud ERP. Epicor markets itself as a provider of "visionary ERP Solutions." Epicor ERP has 5000 customers in over 80 countries and is known to be simple to use, hardware friendly, flexible, and fast.
Epicor Cloud ERP is mainly for small and medium-sized businesses. As it's a cloud-based solution, it's easy to set up and doesn't require a lot of hardware.
Ifs ERP
IFS was one of the first companies to offer component-based ERP solutions. IFS Applications 8.0 is a user-friendly software that is easy to use, install and update as the company grows. IFS reports having more than 2000 installations ranging from 40 to 5000 users. It is offered as a server-based or cloud-based solution.
Exact Max ERP
Exact MAX ERP is a product offered by Exact Software. Aimed for small and medium-sized businesses, it helps firms to make the shift from traditional accounting systems to the world of digital ERP. The integrated support for manufacturing processes is one of the key features of the software. It integrates with Microsoft Dynamics GP and Intuit QuickBooks offering a hassle-free performance. You can expand the software at any time by adding new functions and features.
The Takeaway
Alchemist Accounting is one of the best accounting and audit firms in the UAE that provides audit, accounting, accounting softwares & ERP applications, international tax services and much more to various companies. Our team of experts carry a skill set that provides comprehensive financial management services to all kinds of business. Contact us to know more.
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What Is The Future Of Digital Banking In The UAE
The financial industry in the United Arab Emirates (UAE) has been constantly evolving and changing to bring benefits to the people and the UAE government. The latest and most important trend is the extensive use of technology for banking and other financial needs. As mobile apps and non-banking entities enter the market, traditional banks are compelled to adapt swiftly to remain competitive.
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2 new decisions on corporate tax regime in free zones
Discover the latest updates on corporate tax regulations in free zones. Stay informed and make well-informed business decisions with our comprehensive analysis of the two new developments in the corporate tax regime. Maximize your tax benefits and optimize your operations today.
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4 Benefits of Hiring a Bookkeeper to Streamline Your Business Finances
Alchemist Accounting and get the complete solution for your bookkeeping needs and enjoy the benefits of having a proper financial management system. Give us a call at +971582660929 to start today with your bookkeeping needs.
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Get Up to Speed with UAE's New Tax Residency Guidelines An Overview and Overview of What It Means for Businesses
Stay ahead of the game and navigate the new tax residency guidelines with ease. Our comprehensive overview breaks down what these changes mean for businesses. Gain a clear understanding of the implications and make informed decisions to optimize your tax strategy. Don't let these new guidelines catch you off guard - be prepared and stay compliant.
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A Comprehensive Guide to Understanding IFRS, its Requirements, Role and Benefits
Discover the world of IFRS with our comprehensive guide. Understand the requirements, role, and benefits of International Financial Reporting Standards. Stay ahead of the game with expert insights and practical advice. Start navigating the complexities of IFRS today!
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Introduction to Digital Banking in UAE and its Potential
Discover the potential of digital banking in the UAE with Alchemist. Streamline your financial transactions, access convenient banking services, and stay ahead in the digital age. Explore our innovative solutions and unlock limitless possibilities for a seamless and secure banking experience.
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5 Ways an Accounting Company in Dubai Can Help Your Business Take Off
Discover the top 5 ways an accounting company in Dubai, like Alchemist, can revolutionize your business. From expert financial analysis to strategic tax planning, our team of professionals is here to optimize your financial success. Trust Alchemist for reliable accounting services tailored to your specific needs.
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Financial Records Required for Corporate Tax Registration and Filing Returns
The UAE government in its effort to raise the standards of economy to global standards has introduced corporate tax and the economic landscape of the country is about to undergo several changes. As businesses in UAE understand and adapt to this new tax regime, it is crucial for them to understand the documents and financial records required for corporate tax registration and filing returns.
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Determination Of The Corporate Tax Period And Its Deadline For Submission
Corporate tax has been introduced in the UAE economic landscape, and it is crucial for any business operating in the UAE to have a good idea about the procedures related to corporate tax. Today, we're delving into one of those crucial subjects: the corporate tax period and the all-important deadlines for submission.
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The Importance of Accounting for Small Businesses in Dubai
The success of any business is determined by the way they deal with their finances and plan ahead for the future. That is where accounting comes in. There are many accounting firms in Dubai, and the reason why a small business should hire an accounting firm is because, with a proper accounting system, any business can thrive in the economic landscape of Dubai.
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Accounting Services for Your Private Firm in Bahrain
Looking for reliable accounting services for your private firm in Bahrain? Look no further! Our experienced team of accounting professionals is here to provide you with top-notch financial solutions tailored to meet the unique needs of your business. Streamline your financial processes and gain peace of mind knowing that your accounts are in good hands. Contact us today for a free consultation.
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Seven Steps for Creating a Robust Financial Plan for Businesses in 2024
Any business’ success can be defined by the way they handle the accounting, the same goes for business in Dubai and as well as how they create the financial plan of the business. Hence it is important to follow the right plan when setting up the financial plan for your business in 2024; you can get the help of an accounting firm in Dubai like Alchemist who uses smart tools like Zoho or Odoo with us. The planning includes things like finding the right key points in the year to start a project or identifying the financial needs that can come up during the year.
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Accounting Supervision Services in Dubai UAE
Dubai has a growing economic landscape, where economic activities thrive, the need for robust financial oversight has never been more critical. One of the key elements contributing to this oversight is effective accounting. However, the complexity of financial transactions and the dynamic regulatory environment in the UAE make it imperative for businesses to go beyond traditional accounting practices. This is where Accounting Supervision Services play a pivotal role, ensuring that financial processes are not just managed but strategically supervised for optimal outcomes.
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Accounting & Book keeping for Saudi SME’s made easier
It was during the summer of 2017, one of our clients who have companies in Dammam and Dubai asked me whether we can manage his accounting data entry and reporting for Saudi also in addition to what we do for his company in Dubai.
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Audit requirement for Bahrain companies
Commercial companies are required to submit their audited annual reports for review and analysis in accordance with Bahrain’s commercial companies law, decree law no. 21 of 2001 and revised decree law 50 of 2014.
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VAT Summit held at Manama, Bahrain
*Date : 28 April 2019 * Venue: Crown Plaza Hotel, Manama, Bahrain
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Value Added Tax (VAT) – Are you ready?
Value Added Tax in UAE The much awaited Value Added Tax is just a couple of months away. Here is the 3 key elements to check readiness of your business to accept the change. Impact assessment: Every organization needs to have an impact assessment by considering the nature of business and type of industry. Even though