Are you starting a business in the UAE? If so, you’ll need to think about UAE accounting software that suits you and your professional needs. It’s important to have efficient accounting software to manage the financial aspects of your business as your company grows. In this article, we will discuss the benefits and features of the best and most popular UAE accounting software programs for businesses.
What Is the Best Accounting Software?
The UAE is a thriving economy with new businesses cropping up each year. Implementing intelligent accounting software for your business is a great way to streamline your practices. It also helps ensure all facets of your business can evolve and grow together.
So what is the best accounting software? The truth is, it comes down to the type of business you run and your individual needs. The best accounting software should, at its core, have features that help keep track of costs associated with operating a business. These include income recording, invoicing, expenses, inventory and equity.
Aside from the basic bookkeeping functions, the best accounting software should also be affordable, flexible, user-friendly, secure and compatible with tax or accountancy requirements.
Quickbooks is a well-known and respected accounting system used the world over. Importantly, it ticks several boxes for UAE entrepreneurs and business owners. However, some valuable contenders are worth looking into, particularly if you have larger enterprises or if you need to incorporate VAT software capabilities. Read on to learn more.
When analysing the best accounting software, some features and benefits to look out for are:
- Business processes
- Cloud based accounting software
- The accounting process
- The accounting software cost
- How it is beneficial toward business growth
- The capability of managing multiple companies
- Management of the accounts payable for business transactions
The Best UAE Accounting Software Systems
Here are some of the best UAE accounting software systems for businesses:
- Quickbooks
- SAP ERP
- ODOO ERP
- ZOHO
- SAGE ERP
- Xero
Quickbooks
Overview
Quickbooks is a popular accounting software system for businesses of all sizes in the UAE. Also known as Intuit Quickbooks, this accounting system is recognisable and compatible with many programs used by accountants, which makes tracking your business finances even easier. Quickbooks products are well-priced to suit most budgets and offer a valuable accounting solution to UAE businesses.
Top Features
- Affordable for both single users and big businesses
- Intuitive user interface for novice users
- Highly accurate and secure
- Easily keep track of income, expenses, reporting and inventory
- Mobile app features for optimum usability
- One of the best accounting software in UAE
Drawbacks
- Some users report issues with inaccuracy
- First-time users may have trouble learning accounting concepts on this platform
Price
Quickbooks offers a free trial for 30 days. Otherwise, they offer 4 main plans:
- Simple Start: $15/month
- Essentials: $27.50/month
- Plus: $42.50/month
- Advanced: $100/month
Currently, these prices reflect a discount of 50% off for 3 months.
The US Quickbooks site has a pricing option for freelancers and contractors who want an accounting solution to suit their needs. Starting off at $7.50/month, this option is incredibly affordable and is an attractive accounting option for self-employed individuals in the UAE.
Bottom Line
Quickbooks is an online accounting software system used by UAE businesses to manage corporate finances. With standard features including invoicing, tracking expenses, and creating reports, it’s a highly regarded accounting system used around the world. Their plans suit varying company sizes with different professional needs. For a trusted, widely recognised accounting system in the UAE, Quickbooks is a great option for your business.
SAP ERP
Overview
Since 2010, SAP ERP (enterprise resource planning) is a leading business management solutions system, produced by the software company – SAP. It has a mammoth customer base and provides tailored business solutions within a vast range of sectors. From product sales to HR management to financial and product planning, SAP ERP covers many facets of business operations. The recently launched cloud-based system SAP S/4HANA has been a welcomed usability upgrade for many businesses.
Top Features
- Improved efficiency through a single, integrated system
- Highly customisable to meet the specific needs of your business
- Enhanced auditing and compliance capabilities
- Used in many industries including manufacturing, oil and gas, retail and utilities
- One of the best accounting software in UAE
Drawbacks
- Not suited for small or new businesses
- Expensive to implement and maintain
- Comprehensive functionality means it’s more difficult to learn
- Integration is time-consuming and not very user-friendly
Price
SAP S/4HANA Cloud has a 14-day free trial, in which you can take advantage of their guided tours and experience the capabilities and features within.
Once you sign up, the SAP S/4HANA system offers a full suite of business accounting solutions for a custom price. This cost is calculated per user and therefore depends on the size of the business and the personnel involved.
Bottom Line
Overall, SAP ERP offers powerful accounting software that provides a full business suite of solutions. This software system caters to all business sizes, yet is most suited to larger enterprises. It has a broad scope of offerings, including resource planning, financial reporting and marketing. Despite the higher price point and potentially complex usability, SAP remains one of the most thorough accounting software systems in UAE and Dubai, particularly for larger businesses.
ODOO ERP
Overview
If you’re looking for a system that can streamline and automate your business operations, ODOO ERP could be the answer. This unique accounting software system offers an all-inclusive suite of business solutions that helps UAE businesses manage their finances, operations and customer relations. Not only does it include HR management and customer relationship management services, but its offerings are also scalable for growing businesses.
Top Features
- E-commerce capabilities to support online selling
- Customisable invoicing and billing
- Thorough expense tracking and inventory management
- Automated software system improves business profitability
Drawbacks
- Relatively expensive compared to similar accounting software products
- Limited customisation capabilities
- Complex to use for those unfamiliar with ERP software
Price
ODOO ERP pricing starts at $24/month for a single user.
The cost of using ODOO ERP varies depending on the number of users and what apps you wish to include. To generate a quote, toggle the number of users along with any added apps. You’ll see the price increase and decrease accordingly.
You can also try their services, taking advantage of their 15-day free trial.
Bottom Line
ODOO ERP is a strong business software suite that offers UAE businesses a wide range of features. While it can be expensive to purchase and implement, ODOO ERP can help businesses save money in the long run by reducing operating costs and improving efficiency. Overall, ODOO ERP is a good choice for your business if you want a comprehensive accounting software package that scales up as your business grows.
ZOHO
Overview
Zoho is a 25-year-old software company that provides businesses with practical and valuable business management solutions. As a result, they’re well-versed in offering trusted and reliable accounting software as one of their many contributions to business management. Effortlessly integrated with smartphones, PC and Mac computers, their accounting software is a great way to manage all aspects of business, including the all-important VAT integrations. Consequently, Zoho is a fantastic accounting software choice for business owners in Dubai and the UAE.
Top Features
- VAT-compliant accounting software
- Intuitive use for first-time users
- Optimised client portal for customer support
- Efficiently track expenses and invoices
- One of the best accounting software in UAE
Drawbacks
- Difficult for those new to accounting software
- More expensive compared to other UAE accounting software systems
Price
Zoho Books is where you’ll find Zoho’s range of accounting software plans.
There are 6 listed plans:
- Free trial: $0
- Standard: $10/month
- Professional: $20/month
- Premium: $30/month
- Elite: $100/month
- Ultimate: $200/month
Like most UAE accounting software products, the price increases concurrently with any benefits and features. Of course, you can start by taking advantage as a single user with a free trial.
Bottom Line
Zoho is a great choice for businesses that are looking for an accounting solution with a wide range of features. It is also UAE VAT compliant, making it a good choice for businesses in Dubai and the UAE. While Zoho can be more expensive than some other accounting software options, it has one of the broadest ranges of bookkeeping plans. If you’re a new UAE business, or if you have plans to expand, Zoho can easily provide an accounting solution that suits you and your professional needs.
SAGE ERP
Overview
SAGE ERP X3 accounting software is a comprehensive business management solution that aims to simplify the otherwise complicated nature of most ERP products. It utilises a cloud-based subscription, is fully scalable and supports the needs of any business as it grows. SAGE ERP X3 can help businesses to streamline their processes and overall efficiency. Expect to see standard bookkeeping features along with sales, inventory, project management and customer relations management (CRM) services as part of their accounting system.
Top Features
- Caters to experienced accountancy bookkeeping users
- Ideal for mid-sized business operations
- Easy-to-use interface
- Comprehensive business management solution that covers all aspects of accounting
- One of the best accounting software in UAE
Drawbacks
- Some users complain of limitations with customer support
- For some firms, implementation and troubleshooting have been identified as a problem.
Price
Sage ERP X3 has two basic plans:
- Sage Accounting Start: $10/month
- Sage Accounting: $25/month
You can also start with a free trial to get a feel for how Sage ERP works and the features therein.
Bottom Line
SAGE ERP X3 accounting software is easy to use and can assist in the management of your business at large. It’s a great UAE accounting software option, which is scalable depending on your business and its needs. Yes, there are some minor drawbacks according to some users. That said, SAGE ERP X3 has a range of versatile features that suits mid-sized UAE businesses for affordable prices.
XERO
Overview
Xero is most likely one of the best accounting software systems for businesses in the UAE. Xero is a cloud-based accounting software program that allows businesses to manage their finances online. It offers a wide range of features, including invoicing, expense tracking, payroll, payment integrations and reporting. Xero is popular among small business owners and entrepreneurs in the UAE due to its ease of use and affordability.
Top Features
- Streamlines reporting for accountants
- Easily used via the Xero app on smartphones
- E-commerce, HR, inventory and sales integrations
- Very user-friendly interface
- Plenty of customer support and training
- One of the best accounting software in UAE
Drawbacks
- The UAE version of Xero is more expensive than the international versions
- Complex interface initially, for first-time accounting software users
Price
Despite the difference in pricing for UAE Xero customers, their pricing structure is generally quite affordable, with 3 main tiers:
- Starter: $22/month
- Standard: $35/month
- Premium: $47/month
If you want to sample what Xero has to offer, try out their 30-day free trial offering today.
Bottom Line
Xero is a fantastic cloud-based accounting system for UAE businesses. If you’re a startup looking to automate your accounting, or an entrepreneur wanting to keep track of expenses, Xero is a great choice. Likewise, if you want a service that’s fully integrated with CRM, HRM, invoicing, marketing and much more, Xero hits the brief. Xero has plans that are very affordable for several business sizes and is one of the easiest UAE accounting systems to use.
What is Accounting Software and what is it used for?
Accounting software is a modern, innovative solution to handling all of your business’s financial undertakings. When choosing accounting software, it is important to consider the needs of your business.
The most important facet of any good accounting software should include a general ledger. This is a record of all the financial transactions that have taken place within a business. These include income, expenses, assets, liabilities, and equity.
The general ledger can be used to generate financial statements, such as the balance sheet and income statement. Other relevant features of a top-quality accounting system for UAE businesses are records of accounts receivable, accounts payable and stock inventory management.
Summary of Best UAE Accounting Software
The best accounting software can help your UAE businesses reduce operating costs by automating tasks such as inventory management and accounting.
Quickbooks and Xero are great options for small to medium-sized UAE businesses looking for streamlined and simple accounting management.
Then, there’s SAP and ODOO which offer in-depth features to manage your accounts and all facets of operating a big UAE business. Lastly, Zoho has VAT-compliant software which is highly relevant to the UAE and Dubai market.
Ultimately, with such a great range of innovative accounting software available, you’ll find one that best suits your business.
Starting a Business in Dubai? We’re here to help
Are you keen to start a UAE business? Organising your accounting and business management systems is an integral part of getting started. If you need more personalised help with accounting services or with any aspect of setting up a business, Virtuzone is here to help.
Let’s get your business dreams started – contact Virtuzone today.
