AME is influential in cleaning and reconciling the Fixed Asset Register of many Large Corporate Entities in the region. We offer comprehensive solutions in the area of Fixed Assets Management; Managing, tracking, tagging and reconciliation services ( reconciliation between GL & FA Register VS Actual Asset Tagged Data) where we posses specific expertise.
Our services are mainly used by Large Organizations in the fields of Manufacturing, Hospitality, Asset Management, Aviation, Banking and Retail companies. As part of FA Solutions, we offer IT software, hardware, consumables and IT integration with major ERP applications.
We offer unique and comprehensive solutions through our FIXED ASSET AUDIT Services and carries the distinction of being the only Audit Firm offering these services in a comprehensive manner for the whole region and our expertise and services are currently used by Government Entities and Large Business Groups for various purposes; As part of FA Reconciliation, Annual Audits, Due Diligence, M & A, Business Valuation and or as required by its Board of Directors.
Our Asset Tracking & Label Applications software can easily be integrated to major ERP applications as the System including the hardware component has the capability to read, extract, store and upload the data in to Third Party Applications or have the capability to create common fields or can convert the data in to major formats. Since the system offers software compatibility, the accuracy of the data can be maintained.
FIXED ASSET AUDIT is eminent due to the fact that, the values generally appearing in your GL or Fixed Asset Register seldom verified with the Actual Asset Data AT Site ( based on its current availability, condition, value etc. ) hence requires its Physical count, tagging, Reconciliation etc. Once Assets are verified at various site, we label them wherever necessary ( based on the numbering systems the FA Register generates ) and reconcile them with book value and Vice Versa. Through this process we are able to identify and provide with our clients, the List of Missing, Unfound Assets, Additional Assets, wrong Damaged or Scrap Assets, the condition of the Assets, Its Custodian, Location, Duplication/ Accounting and capitalization Errors etc. Once verification and reconciliation is done, the GL of your ERP Solutions requires up date where in we create additional fields to include all up date information. This will offer accuracy to your Balance Sheet Figures and in most of the cases will have impact on your profit & Loss Account.
We offer specialized requirements of our clients; In order to establish effective reporting solutions using the existing applications of the clients; be it an existing application in the form of an ERP or by offering Taylor made solutions which includes setting up of an interface or by undertaking integration of a third party application with the existing applications of the client. We have a good track record in offering these solutions for clients who are using major ERP applications like SAP, ORACLE FINANCIALS, E BUSINESS SUITE, MS-GREAT PLAINS, MS-DYNAMICS, BANN etc.
We hold the distinction of being the Only Entity in the region who provides these services under a comprehensive plan; right from defining the Policy & Procedure Manual on Fixed Asset Management till the preparation and upload of a Reconciled, Revised Fixed Asset Register which is the end result of Asset Tagging, Registration, Indexing/matching services conducted by us.
We update ourselves with all advanced technologies in Asset Management by using the relevant technology as required by each entity; Bar code, RFID, QR Code & GPS
Based on our experience of working with multiple industry verticals in the region for more than a decade, we have designed, developed and implemented our most updated Fixed Asset Management Solution for numerous clients in the region; it carries all relevant features; Multi User, Multi Companies, Bilingual Application which offers remote connectivity/access.
The Uniqueness of our Application is due to various Add On Features that could be added to the Application; Reconciliation; Fixed Asset Register VS General Ledger Vs Balance Sheet as well as provisions to handle different Depreciation Methods and Variance Reports.
We assist our clients in choosing the right Hardware tools as well as consumable that is required to undertake Asset Registration tasks; Asset Readers that support different technologies; Android/windows/IO etc. Other hardware elements includes Printers that support both technologies; Barcode and RFID
We also liaise in sourcing the right types of Labels to choose from local and overseas markets; Metallic, Non Metallic, Synthetic and or paper tags as well as RFID (Inlays-Active and Passive) tags apart from QR Code tags.
We caters to all Tax requirements by providing FTA ( Federal Tax Authority) compliant VAT Services; In order capacity as duly licensed Tax Consultant by Government of Dubai.
As per Federal Decree Law No (8) of 2017 with effect from 01/01/2018 Registration for VAT is mandatory for Businesses where annual revenues is AED. 375000/- or if you feel voluntary Registration- If the annual revenue is lower than AED. 375,000/-but may fetch the same in near future. Our range of services includes:
Indirect tax levied on import & production of certain specific goods in UAE is introduced . This tax was introduced to cut down the consumption of goods/components which may be detrimental to health & environment items brought under the ambit of excise tax are Tobacco, Sugary and Energy Drinks.
Federal Law (7) of 2017 with effect from 01 st September 2019 the list of such items/goods are started
We assist Business Entities to be compliant with ESR Regulation as stipulated by the Competent Authority. As per the Cabinet Ministers Resolution 31 of 30 th April 2019, it requires all In- Scope UAE Entities (Relevant Entities) that carry on certain activities ( Relevant Activities) to have demonstrable economic substance. It applies to all UAE on shore, Off Shore and Free Zone Companies . Government Entities are excluded
Activities corresponding to this include; Banking, Insurance, Investments, Shipping, Intellectual Property, Distribution, Service Centers, Holding companies, Head Quarter
UAE being a signatory to the Organization of Economic Cooperation Development, under this, all licensed business should provide the Regulatory Authority on an Annual basis; Notify the Regulatory Authority with the required information with effect from 01 st January 2020.
Most trusted Accounting, Audit, Consulting and Tax Firm in United Arab Emirates for two decades.