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Cloud accounting and bookkeeping service UAE — ERPNext IFRS-compliant accounting, UAE VAT and Corporate Tax compliance by licensed CPA firm and FTA Tax Agent — Abdelhamid & Co Sharjah

Cloud accounting and bookkeeping service in the UAE — ERPNext, IFRS and VAT

Cloud accounting and bookkeeping is the management of a business’s financial records on a cloud-based platform — enabling real-time access, automated workflows, IFRS-compliant financial reporting, and UAE VAT and Corporate Tax compliance from anywhere. At Abdelhamid & Co. Certified Public Accountants & Auditors L L C SP, we deliver cloud accounting and bookkeeping services for UAE businesses using ERPNext — an open-source enterprise resource planning system with a fully integrated accounting module. We are licensed by the UAE Ministry of Economy (Local Auditors Record No. LC0106-01) and registered as a licensed FTA Tax Agent (TAN: 30003958 | TAAN: 20033908).

This service is part of our broader accounting services. It complements our financial statements compilation service and our VAT return filing service. Learn more about our firm and our team.

Key facts — cloud accounting UAE

Platform: ERPNext (open-source ERP, no per-user licensing fees)
Reporting framework: IFRS and IFRS for SMEs (Federal Decree-Law No. 32 of 2021)
Record retention: 7 years (Corporate Tax) — 5 years (VAT) — 15 years (real estate)
VAT compliance: Federal Decree-Law No. 8 of 2017 — EmaraTax-compatible reports
Corporate Tax records: Federal Decree-Law No. 47 of 2022
Licensing: Ministry of Economy LC0106-01 | FTA Tax Agent TAN: 30003958

Legal framework for accounting records in the UAE

UAE law imposes strict obligations on businesses to maintain proper accounting records:

  • Federal Decree-Law No. 32 of 2021 on Commercial Companies — requires all UAE companies to maintain proper accounting books and records
  • Federal Decree-Law No. 47 of 2022 on Corporate Tax — requires taxable persons to maintain adequate financial records for a minimum of 7 years, supporting their Corporate Tax returns
  • Federal Decree-Law No. 8 of 2017 on VAT — requires VAT-registered businesses to maintain tax records for a minimum of 5 years (15 years for real estate)
  • International Financial Reporting Standards (IFRS) — the mandatory financial reporting framework for UAE entities

Non-compliance with record-keeping obligations can result in administrative penalties under the FTA’s penalty framework, including penalties of AED 10,000 per violation (AED 20,000 for repeat violations).

Why ERPNext for cloud accounting in the UAE?

ERPNext is a fully open-source ERP system with a powerful, IFRS-compliant accounting module. It is particularly well-suited for UAE SMEs because:

  • IFRS-compliant chart of accounts — structured for UAE financial reporting requirements
  • UAE VAT-ready — built-in VAT configuration for 5% standard rate, zero-rating, exemptions, and EmaraTax-compatible VAT return data
  • Multi-currency and multi-company — essential for UAE businesses with cross-border transactions or group structures
  • Real-time financial dashboards — live profit & loss, balance sheet, cash flow, and accounts receivable/payable reports
  • Integrated modules — accounting, purchasing, sales, inventory, payroll, projects, and fixed assets in one system
  • Cloud-hosted — accessible from anywhere, with automated backups and no on-premise server requirement
  • Open-source — no per-user licensing fees, significantly lower total cost of ownership versus proprietary ERP systems

Our cloud accounting and bookkeeping services

1. ERPNext implementation & chart of accounts setup

We implement ERPNext for your business, configure the IFRS-compliant chart of accounts tailored to your industry and entity type, set up cost centres, projects, and dimensions, and configure UAE VAT settings including tax templates for standard-rated, zero-rated, and exempt supplies.

2. Ongoing bookkeeping & transaction recording

We record all financial transactions on a daily, weekly, or monthly basis — including sales invoices, purchase invoices, bank payments, receipts, expense claims, payroll journals, and depreciation entries — ensuring your books are always current and accurate.

3. Bank reconciliation

We perform regular bank reconciliations in ERPNext, matching all transactions against your bank statements and resolving any discrepancies. This is a critical internal control that ensures the integrity of your cash balances and prevents fraud.

4. VAT accounting & return support

We maintain VAT-compliant accounting records in ERPNext, tracking output VAT, input VAT, and preparing the data required for quarterly VAT return filing via EmaraTax. As licensed FTA Tax Agents, we can also file the return on your behalf — see our VAT return filing service.

5. Monthly management accounts

We produce monthly management accounts from ERPNext — including profit & loss statement, balance sheet, cash flow summary, and accounts receivable/payable ageing reports — giving you the financial visibility needed to make informed business decisions.

6. IFRS financial statements preparation

At year-end, we prepare a complete set of IFRS-compliant financial statements from the ERPNext data, including the notes to the accounts and the accountant’s compilation report under ISRS 4410. Full details: financial statements compilation service.

Why choose Abdelhamid & Co for cloud accounting in the UAE?

  • Licensed by the UAE Ministry of Economy — Local Auditors Record No. LC0106-01
  • Licensed FTA Tax Agent — TAN: 30003958 | TAAN: 20033908
  • UAECA — UAE Certified Accountant
  • IACPA — International Association of Certified Public Accountants
  • EAAA Fellow — Registration No. 124
  • IASCA Fellow — Registration No. 1361
  • ERPNext specialists with UAE VAT and IFRS configuration expertise
  • End-to-end service: bookkeeping → VAT returns → financial statements → audit
  • Full IFRS compliance — including IFRS 9, 15, 16, IAS 2, 16, 37
  • Corporate Tax record-keeping compliance (7-year retention)
  • Bilingual team — Arabic and English
  • Transparent, fixed-fee monthly engagements

Frequently asked questions — cloud accounting UAE

What is ERPNext and how does it work for UAE businesses?

ERPNext is an open-source enterprise resource planning system with a fully integrated accounting module. For UAE businesses, it supports IFRS-compliant reporting, UAE VAT configuration, multi-currency transactions, and real-time financial dashboards. It is cloud-hosted, eliminating the need for on-premise servers, and accessible from any device.

How long must UAE businesses keep accounting records?

Under the UAE Corporate Tax Law (Federal Decree-Law No. 47 of 2022), taxable persons must maintain financial records for at least 7 years. Under the VAT Law, VAT records must be retained for at least 5 years (15 years for real estate transactions). ERPNext’s cloud storage ensures records are securely maintained for the required periods.

Can ERPNext generate VAT-compliant reports for EmaraTax filing?

Yes. ERPNext’s built-in VAT reports generate the output and input tax data required to complete the UAE VAT return. As licensed FTA Tax Agents, we use this data to prepare and file your VAT return via EmaraTax on your behalf.

Is ERPNext suitable for small and medium-sized UAE businesses?

Yes. ERPNext is specifically well-suited to SMEs because it has no per-user licensing fees (being open-source), is cloud-hosted with low infrastructure cost, and scales from a single-company setup to complex multi-company, multi-currency group structures. We configure it to match the specific needs of your business.

What is the difference between bookkeeping and accounting?

Bookkeeping is the systematic recording of daily financial transactions — invoices, payments, receipts. Accounting encompasses bookkeeping but also includes the interpretation, classification, analysis, summarisation, and reporting of financial data, including the preparation of financial statements and tax returns. Our service covers both.

Can I access my accounts in real time?

Yes. ERPNext is a fully cloud-based system, meaning you can access your accounts, reports, invoices, and financial dashboards from any browser or mobile device at any time. We also produce monthly management reports summarising your financial position.

Does ERPNext support multi-currency and multi-company UAE setups?

Yes. ERPNext natively supports multi-currency transactions and multi-company structures, making it ideal for UAE businesses with cross-border trade, group entities, or free zone and mainland subsidiaries. We configure consolidation, intercompany transactions, and currency revaluation to ensure your books remain IFRS-compliant at all entity levels.

Contact us for cloud accounting and bookkeeping services in the UAE

📞 Phone / WhatsApp: +971 50 794 8028
📞 Direct: +971 065 289 414
🌐 Office: Sharjah, Al Qasimia, Omran Tower, Office 302

Abdelhamid & Co. Certified Public Accountants & Auditors L L C SP — Licensed by the UAE Ministry of Economy (LC0106-01) | Licensed FTA Tax Agent (TAN: 30003958 | TAAN: 20033908)

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Abdelhamid M. Abdelhamid — Partner & Managing Director
Abdelhamid & Co. Certified Public Accountants & Auditors L L C SP
UAECA | IACPA | EAAA Fellow No. 124 | IASCA Fellow No. 1361
UAE Ministry of Economy — LC0106-01 | Working-Auditors Record No. 956
FTA Tax Agent — TAN: 30003958 | TAAN: 20033908
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Last reviewed: April 2026. Content reflects UAE law at date of review.


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Email: info@abdelhamidcpa.com

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