Payroll Accounting Services
Payroll Accounting Services
Entering the business landscape of the UAE is a significant move, especially with its diverse expat and migrant workforce. The country’s rich traditions and cultures can be both exciting and challenging. As employees are the backbone of any business, it is crucial to provide them with a supportive working environment, competitive salaries, and additional benefits. Payroll calculations in the UAE go beyond basic wages, encompassing perquisites and other benefits. With specific regulations governing the wage system, it’s more efficient to opt for professional payroll services from Aebiaccountax rather than spending valuable time navigating these laws.
When it comes to financial services, including payroll accounting in the UAE, Aebiaccountax is your trusted guide. Our clients across the UAE value our commitment to confidentiality and quality. We stand out for our:
– In-depth understanding of local rules and regulations
– Precision in data management
– Expert teamwork
– Use of customized software solutions
– Enhanced data security through encryption
Let us help you manage your payroll needs efficiently and confidently.
What is payroll accounting?
Payroll accounting involves recording employees’ monetary compensation for the work they perform within a company. This process helps businesses maintain accurate records of attendance, paid leave, and national public holidays
- Gross wages
- Salaries
- Perks and Allowances
- Leave Balances
- Overtime Pay
- Taxes to be paid if any
- End of the service settlement calculations
Payroll accounting also takes into account various factors, such as employees’ health insurance premiums, contributions to savings plans, salary and wage garnishments, vacation and sick days, and worker compensation insurance. Opting for payroll accounting in the UAE with Aebiaccountax not only saves your business money, time, and effort but also enhances overall efficiency, allowing you to focus on your core operations. Our comprehensive approach ensures that all payroll-related aspects are managed seamlessly, supporting the financial well-being of your business.
Wage Protection System (WPS)
The Wage Protection System (WPS) is an electronic payroll management system designed to ensure that employees are paid through banks, exchanges, and financial institutions. It was introduced by the Central Bank of the UAE to protect employees’ rights and safeguard their monthly wages. The Ministry of Labour maintains a comprehensive database using this data and closely monitors the payment processes to ensure compliance.
The benefits of the WPS include:
- Enhanced Wage Security: Ensures that employees receive their wages on time and in full.
- Compliance with UAE Laws:Helps businesses comply with local labor laws and regulations, avoiding legal penalties.
- Transparency and Accountability: Promotes a transparent payroll process, reducing the risk of disputes and discrepancies.
- Accurate Record Keeping: Streamlines the payroll process and ensures accurate record-keeping of employee payments.
Our Scope of Work
- Preparing and maintaining employee records
- Payroll processing-Gross salary calculation under incentives schemes and bonus.
- WPS, registration, set-up and operation
- Computation of employee’s benefits
- Computation of employee’s end of service award
- Reimbursement expenses cross verification
Benefits of Outsourcing Payroll Accounting Services
- Cost-Effective Operations with Advanced Technology
- Focus on Core Business Activities
- Eliminate the Need to Hire In-House Accountants
- Secure and Professional Service
- Reduced Training Costs and Programs
Why Choose Us?
Aebiaccountax offers top-tier payroll services in Dubai, enhancing payroll systems with superior accounting, advanced technology, and strategic guidance. Our experts excel in delivering exceptional services, ensuring client satisfaction. With a team of professionals experienced in accounting and auditing, we ensure that client accounts are consistently up to date in compliance with IFRS and ISA standards, adhering to the federal laws of the UAE. We maintain an organized documentation system for future reference and provide flexibility by allowing clients to use their preferred accounting software or our in-house software for payroll processing.
Contact us today for professional payroll services in Dubai and across the UAE. Our payroll experts are ready to assist you and address any of your queries.