Accounting and Bookkeeping Services in Dubai

Accounting and bookkeeping services in Dubai encompass comprehensive financial management solutions required by UAE law for all businesses, including monthly transaction recording, financial statement preparation, VAT return filing, corporate tax compliance (5% on taxable income exceeding AED 375,000), and annual audit coordination. Every mainland company and most free zone entities must maintain proper accounting records under Federal Decree-Law No. 32 of 2021 on Commercial Companies and maintain books of account for at least five years, making professional accounting services essential rather than optional for UAE-based businesses.

Why Professional Accounting Services Are Non-Negotiable in Dubai

The UAE’s regulatory environment treats accounting compliance as seriously as licensing compliance. Unlike jurisdictions where small businesses can maintain informal records, Dubai’s business landscape demands detailed financial documentation from day one. This isn’t merely about tax collection—it’s about transparency in an economy that positions itself as a global financial hub.

Legal Framework Governing Accounting in the UAE

The Federal Decree-Law No. 32 of 2021 on Commercial Companies replaced the previous 1984 law and substantially tightened accounting requirements. Article 24 mandates that companies maintain complete accounting books showing assets, liabilities, and all business transactions. The law doesn’t provide a materiality threshold—a one-person consultancy has the same fundamental obligations as a multinational corporation.

Beyond federal company law, the UAE VAT legislation (implemented January 1, 2018) requires registered businesses to maintain detailed records of all taxable supplies, input tax, and output tax for seven years. The Federal Tax Authority (FTA) conducts regular audits and has issued penalties exceeding AED 50,000 to businesses with incomplete VAT documentation, according to published enforcement reports.

The introduction of corporate tax legislation in 2023 added another layer. The UAE Federal Tax Authority published Cabinet Decision No. 116 of 2022 on the Financial and Accounting Standards for Corporate Tax Purposes, which specifically requires businesses to maintain records that support their taxable income calculation, including transfer pricing documentation for related-party transactions.

The Real Cost of DIY Bookkeeping

We’ve consulted with dozens of business owners who initially chose to manage their own books using accounting software. The pattern is consistent: what saves AED 1,000 monthly in service fees typically costs AED 8,000-25,000 in rectification when they need clean financial statements for bank financing, investor due diligence, or regulatory audit.

Common problems we’ve encountered during cleanup projects include:

• Commingled accounts: Personal and business transactions mixed, requiring manual separation of 12-24 months of bank statements (30-80 hours of work at AED 150-250/hour)
• Misclassified expenses: Capital expenditures recorded as operating expenses (or vice versa), creating incorrect depreciation schedules and tax implications
• Unreconciled VAT: Input tax claimed on non-eligible expenses or output tax miscalculated due to incorrect supply categorization, leading to FTA scrutiny
• Missing source documents: Invoices and receipts not retained or systematically filed, making historical reconstruction nearly impossible
• Multi-currency errors: Exchange rate gains/losses not properly accounted for in businesses dealing with USD, EUR, or GBP alongside AED

The hidden cost extends beyond cleanup fees. We’ve seen businesses denied bank loans despite strong cash flow because their financial statements showed inconsistent revenue recognition. Others faced extended visa renewal delays when free zone authorities questioned the legitimacy of financial statements that lacked professional preparation standards.

Core Accounting and Bookkeeping Services: What You Actually Need

Professional accounting services in Dubai fall into distinct categories, each addressing specific regulatory or operational requirements. Understanding what you’re actually paying for helps you evaluate whether your current provider delivers full compliance or just partial coverage.

Monthly Bookkeeping Services

This is the foundation layer—systematic recording of every business transaction throughout the month. Comprehensive monthly bookkeeping includes:

Transaction recording and categorization: Every bank deposit, withdrawal, credit card charge, and cash transaction is coded to the appropriate general ledger account. For a typical retail business, this means processing 150-400 monthly transactions. Service companies average 50-120 transactions monthly.

Bank reconciliation: Matching your accounting records against bank statements to identify discrepancies, missing transactions, or duplicate entries. Three-way reconciliation (bank, accounting software, and merchant processor statements) is standard for businesses accepting card payments.

Accounts receivable and payable management: Tracking customer invoices and vendor bills, aging analysis to identify overdue payments, and reconciliation of customer/vendor account balances. Critical for businesses offering credit terms or managing multiple suppliers.

Payroll processing: WPS (Wage Protection System) compliance filing, end-of-service benefit accrual calculations, and payroll journal entries. Note that WPS filing is mandatory for all mainland companies and carries AED 5,000 penalties per violation according to Ministry of Human Resources and Emiratisation regulations.

Inventory tracking (for product businesses): Monthly stock counts reconciled to purchase and sales records, cost of goods sold calculations using FIFO, LIFO, or weighted average methods, and inventory valuation adjustments.

The deliverable is typically a monthly management report package including profit and loss statement, balance sheet, cash flow statement, and aged receivables/payables reports. Turnaround time varies—expect reports by the 10th-15th of the following month for businesses with clean transaction coding.

VAT Compliance and Filing

VAT registration triggers ongoing compliance obligations that require specialized knowledge. The Federal Tax Authority’s regulations run to hundreds of pages and contain industry-specific rules for sectors from real estate to financial services.

Monthly or quarterly VAT return preparation: Calculating output tax on taxable supplies (standard-rated at 5%, zero-rated, or exempt), compiling input tax on business purchases, and computing net tax due or refund claim. Returns must be filed within 28 days of the tax period end.

VAT audit file maintenance: The FTA requires businesses to maintain a VAT-specific audit file containing detailed transaction-level data, supporting documents for each supply and purchase, and documentation of VAT treatment decisions. This isn’t the same as your general accounting records—it’s a compliance-specific dataset.

Input tax recovery optimization: Identifying legitimately recoverable VAT on expenses (excluding items like employee benefits, entertainment beyond specific limits, and personal use), applying the partial exemption calculation for businesses making both taxable and exempt supplies, and documenting business purpose for questioned items.

VAT treatment consultation: Determining correct treatment for complex transactions like cross-border services (subject to reverse charge mechanism), deemed supplies, capital asset transfers, and transactions involving special development zones.

Pricing for VAT services typically runs AED 500-1,200 monthly for straightforward businesses with under 50 transactions per tax period. Complex businesses—particularly those in real estate, financial services, or healthcare with both taxable and exempt supplies—should expect AED 2,000-4,000 monthly for proper compliance.

Corporate Tax Compliance Services

Corporate tax implementation created entirely new service requirements. Unlike VAT (which is transaction-based), corporate tax requires annual calculation of taxable income with specific adjustments to accounting profit.

Annual tax return preparation: Computing taxable income starting from accounting profit, applying tax adjustments for non-deductible expenses, tax depreciation variations, and loss carryforward calculations. The UAE corporate tax rate is 0% on taxable income up to AED 375,000 and 9% on income exceeding that threshold (with a different rate for multinationals meeting specific criteria under Pillar Two).

Transfer pricing documentation: Businesses conducting transactions with related parties (common in group structures or businesses with overseas parent companies) must prepare and maintain transfer pricing documentation demonstrating arm’s length pricing. This includes functional analysis, comparable company analysis, and detailed intercompany transaction records.

Tax residency certification: Companies may need UAE tax residency certificates to access double taxation treaty benefits. This requires demonstrating substantive presence—actual management and control exercised in the UAE, not just a registered office.

Tax-efficient structure consultation: Legitimate tax planning to utilize free zone qualifying income exemptions, group relief provisions, and other incentives built into the UAE tax legislation.

First-year corporate tax compliance (for a June 2024 year-end, filing due by March 2025) typically costs AED 8,000-15,000 for small businesses and AED 20,000-50,000+ for medium enterprises with complex structures. Ongoing annual costs should settle at 60-80% of first-year fees once systems are established.

Financial Statement Preparation and Audit

UAE company law distinguishes between financial statement preparation (an accounting function) and audit (an assurance function performed by licensed auditors). Both are typically required, though the exact obligations depend on your business structure.

Annual financial statement preparation: Year-end closing entries, depreciation calculations, accrual and prepayment adjustments, and compilation of IFRS-compliant (International Financial Reporting Standards) or IFRS for SMEs financial statements including comprehensive footnotes.

External audit coordination: Providing auditors with required documentation, responding to audit queries, and implementing recommended adjustments. The audit itself is performed by licensed audit firms—your bookkeeping provider prepares the records for audit but doesn’t conduct it.

Audit requirement triggers: All mainland limited liability companies (LLCs) must have audited financial statements regardless of size. Free zone companies typically require audits if annual revenue exceeds AED 1 million or if the free zone authority mandates it for license renewal. Certain business activities (financial services, insurance, etc.) have mandatory audit requirements regardless of size.

Audit fees in Dubai range dramatically based on business size and complexity:

Business Size	Annual Revenue	Typical Audit Fee Range	Timeline
Micro business	Under AED 1M	AED 4,000 - 8,000	2-3 weeks
Small business	AED 1M - 10M	AED 8,000 - 18,000	3-5 weeks
Medium business	AED 10M - 50M	AED 18,000 - 45,000	6-10 weeks
Large business	Over AED 50M	AED 45,000+	10-16 weeks

Note that these are typical ranges for standard commercial businesses. Highly regulated industries (financial services, healthcare) and businesses requiring PCAOB (Public Company Accounting Oversight Board) or Big Four audits face significantly higher fees.

Choosing Between In-House and Outsourced Accounting

The decision to hire internal accounting staff versus outsourcing to specialized firms like Make My Firm depends on transaction volume, complexity, and strategic importance of real-time financial visibility.

When In-House Makes Sense

Businesses with daily financial decision-making needs benefit from dedicated internal staff. This typically means:

• High transaction volume: 1,000+ monthly transactions requiring daily processing and reconciliation
• Complex inventory operations: Manufacturing or distribution businesses with multiple warehouses, inter-location transfers, and production cost accounting
• Multiple entity structures: Group companies requiring consolidation, intercompany transactions, and transfer pricing monitoring
• Real-time financial reporting needs: Management requiring daily or weekly financial dashboards for operational decisions

The all-in cost of a competent accountant in Dubai (not just a bookkeeper) runs AED 8,000-15,000 monthly when you include salary (AED 5,000-10,000 for junior to mid-level accountants), visa costs (AED 2,500-3,500 annually), health insurance (AED 600-1,200 annually per emirate requirements), office space allocation, and accounting software licenses.

You’ll still need external support for specialized compliance—VAT returns, corporate tax filing, and annual audits require licensed professionals. So the true comparison is internal staff cost plus external compliance fees (AED 3,000-6,000 monthly) versus full-service outsourcing.

The Outsourcing Advantage for Most Businesses

For businesses under AED 15-20 million annual revenue without specialized accounting complexity, outsourced services deliver better value through:

Continuous compliance coverage: Professional firms maintain current knowledge across VAT regulations, corporate tax updates, and changing accounting standards. When the FTA released clarifications on VAT treatment of cryptocurrency transactions or updated economic substance regulations, outsourced clients received immediate guidance. In-house accountants require ongoing training to maintain this breadth.

Segregation of duties: Fraud prevention best practice requires separation between transaction recording, bank access, and reconciliation functions. Small businesses can’t achieve this with a single in-house accountant. Outsourced firms provide inherent segregation—different staff members handle different functions.

Redundancy and continuity: When your sole in-house accountant takes leave, gets sick, or resigns, your accounting stops. Outsourced firms maintain team coverage and documented procedures ensuring continuity.

Technology access: Enterprise-grade accounting platforms (NetSuite, Zoho Books, QuickBooks Online Advanced) plus specialized tax compliance tools represent AED 15,000-40,000 annual investment. Outsourced providers include this technology in service fees.

Scalability: Growing from 50 to 200 monthly transactions doesn’t require hiring additional staff—your outsourced provider absorbs the volume increase (typically with graduated pricing tiers).

The financial breakeven typically occurs around 400-600 monthly transactions or when you need two full-time accounting staff. Below that threshold, outsourcing delivers better compliance outcomes at lower total cost.

Accounting and Bookkeeping Services in Dubai: Market Landscape and Pricing

Dubai’s accounting services market segments into several distinct tiers, each serving different business profiles. Understanding the landscape helps you identify providers matching your complexity level and budget expectations.

Service Provider Categories

Big Four firms (Deloitte, PwC, EY, KPMG) dominate large corporate accounting, audit, and tax advisory. Their Dubai offices primarily serve multinationals, large regional businesses, and companies requiring specialized services like US GAAP reporting or pre-IPO audit. Monthly accounting retainers start at AED 15,000-25,000 with audit fees beginning at AED 60,000 for even relatively straightforward engagements. These firms are overkill for small businesses and typically won’t accept clients below certain revenue thresholds (often AED 20-50 million).

Mid-tier regional firms offer similar service breadth to the Big Four but with more accessible pricing and client-size flexibility. Firms like this category serve SMEs, mid-market companies, and subsidiaries of international businesses. Monthly accounting packages range from AED 3,000-12,000 depending on complexity. They maintain licensed auditors on staff and can handle specialized compliance like economic substance regulations, country-by-country reporting, and transfer pricing documentation.

Specialized business services firms like Make My Firm integrate accounting with broader business setup, licensing, and PRO services. This integration delivers value for businesses navigating initial setup phases or managing ongoing visa, trade license renewal, and regulatory compliance alongside accounting. Service packages typically run AED 1,200-5,000 monthly for comprehensive support including bookkeeping, VAT, and compliance coordination. The advantage is single-point contact for interconnected business needs—your accounting provider understands your license restrictions, visa allocations, and regulatory obligations because they manage all these elements.

Freelance accountants and small practices serve micro-businesses and startups with basic bookkeeping needs. Pricing ranges from AED 800-2,500 monthly, but service scope is typically limited to transaction recording and basic financial statements. VAT return preparation may cost extra (AED 400-800 per return), and these providers generally can’t conduct audits (you’ll need to engage a separate licensed audit firm).

Dubai-Specific Pricing Benchmarks

Based on current market rates across Dubai mainland and major free zones (DMCC, JAFZA, Dubai Multi Commodities Centre), expect these monthly service costs:

Service Package	Transaction Volume	Monthly Fee Range	What’s Included
Basic Bookkeeping	Under 50 transactions	AED 800 - 1,500	Transaction recording, monthly P&L and balance sheet, bank reconciliation
Standard Package	50-150 transactions	AED 1,500 - 3,000	Basic services plus quarterly VAT return, payroll processing (up to 5 employees), AP/AR management
Professional Package	150-400 transactions	AED 3,000 - 6,000	Standard services plus monthly VAT return, inventory tracking, management reports, dedicated account manager
Enterprise Package	400+ transactions	AED 6,000 - 12,000+	Professional services plus multi-entity consolidation, advanced reporting, transfer pricing support, tax planning

Additional services are typically priced separately:

• Annual audit: AED 4,000-45,000+ (see previous pricing table)
• Corporate tax return preparation: AED 8,000-25,000 annually
• Audit file preparation (historical cleanup): AED 5,000-15,000 one-time
• CFO advisory services: AED 8,000-20,000 monthly retainer
• Transfer pricing documentation: AED 15,000-40,000 annually

Geographic and Free Zone Variations

Accounting service pricing remains relatively consistent across Dubai’s mainland and free zones, but some nuances exist:

DMCC (Dubai Multi Commodities Centre) and DIFC (Dubai International Financial Centre) companies often face slightly higher service costs (10-15% premium) because these zones have additional reporting requirements. DIFC entities must comply with DIFC Law No. 2 of 2009 on the Regulation of Auditors, which mandates specific audit standards and additional disclosures. For companies considering different formation options, reviewing the comparison between Dubai mainland company formation and DIFC can clarify these compliance differences.

JAFZA (Jebel Ali Free Zone), RAK FTZ (Ras Al Khaimah Free Trade Zone), and SHAMS (Sharjah Media City) generally have more straightforward compliance requirements, potentially reducing accounting service costs by 5-10% compared to DMCC/DIFC. The trade-off analysis between zones depends on your specific business needs—see detailed comparisons for DIFC versus RAK FTZ and DIFC versus SHAMS to understand how accounting complexity factors into zone selection.

Mainland companies face the most comprehensive compliance obligations—mandatory annual audits regardless of size, ESR (Economic Substance Regulations) declarations for certain business activities, and full UAE corporate tax compliance. This translates to 15-25% higher annual accounting and compliance costs compared to free zone entities below the audit threshold.

Finding the Right Service Provider

Evaluating accounting firms requires looking beyond price to assess actual capability and fit:

Check license and registration: Accounting firms should be registered with the UAE Ministry of Economy. Audit firms must hold a license from the relevant economic department (Dubai Economic Department for mainland, free zone authority for zone entities) and have auditors licensed by the relevant regulatory authority. Ask for license numbers and verify them.

Assess sector experience: Accounting for e-commerce businesses differs substantially from real estate or professional services. Request client references in your industry and ask about specific challenges they’ve navigated (platform fee accounting, inventory valuation methods, commission structures, etc.).

Evaluate technology platform: Firms still operating primarily on Excel spreadsheets create data integrity and efficiency problems. Look for providers using recognized cloud accounting platforms (Zoho Books, QuickBooks Online, Xero, Tally) with real-time access portals for clients.

Test responsiveness: During initial consultations, note how quickly the firm responds to questions and whether answers demonstrate actual expertise or generic information. The accounting firm you’re considering should explain how recent FTA clarifications or corporate tax regulations specifically affect your business model.

Understand service scope boundaries: Many providers market “comprehensive accounting services” but exclude critical elements. Get written confirmation of exactly what’s included in monthly fees versus additional charges, turnaround time commitments, and who specifically will handle your account.

Review engagement terms: Contracts should specify service deliverables, deadlines, fee structure, termination provisions, and data ownership (you own your financial records; the provider cannot withhold them if you switch firms). Avoid firms requiring 12-month minimum commitments without trial periods.

Implementation: Transitioning to Professional Accounting Services

Moving from DIY bookkeeping or switching accounting providers requires structured transition planning to avoid data gaps or compliance lapses.

The Transition Timeline

Month 1: Discovery and data gathering — Your new accounting provider will request access to your bank accounts (read-only), existing accounting files, previous VAT returns, tax filings, trade license, and incorporation documents. They’ll conduct an initial assessment identifying data gaps, compliance issues, and cleanup requirements.

For businesses switching from another provider, request a complete data export in standard format (CSV or Excel) including full transaction history, general ledger, chart of accounts, and customer/vendor lists. You’re entitled to this data—any provider refusing is violating basic professional standards.

Month 2: Historical cleanup and system setup — The provider will address identified issues, potentially including reconstructing missing months, correcting misclassified transactions, and reconciling bank accounts. Simultaneously, they’ll configure your accounting software, establish chart of accounts tailored to UAE reporting requirements, set up automated bank feeds, and create user access for your team.

Month 3: Parallel processing and handover — For one month, your new provider processes current transactions while you verify the output matches your expectations. This parallel period allows catching any misunderstandings about transaction handling, reporting formats, or communication protocols before completely cutting over.

Cost of Transition

Switching providers or moving from DIY bookkeeping incurs one-time costs beyond regular monthly fees:

• Historical data cleanup: AED 3,000-15,000 depending on how many months require reconstruction and the quality of existing records
• Software migration: AED 1,500-4,000 for data conversion, chart of accounts mapping, and opening balance configuration
• Process documentation: AED 1,000-2,500 for creating customized procedures for your business (how to submit expenses, invoice approval workflows, etc.)

Total transition investment typically equals 3-6 months of regular service fees. Budget for this upfront cost and expect 60-90 days before you’re receiving normal monthly deliverables on schedule.

Preparing for Smooth Onboarding

You can significantly reduce transition time and cost by organizing information before engaging your new accounting provider:

Compile complete bank statements covering the last 12 months (or since company formation if newer). Electronic statements in PDF format are preferable to scanned images.

Gather all licenses and registration certificates: Trade license, VAT registration certificate, corporate tax registration, any sector-specific approvals or permits.

Export existing accounting data if you’ve been using software. If you’ve maintained spreadsheets, organize them chronologically with consistent formatting.

Collect outstanding invoices and bills: Any unpaid customer invoices or vendor bills that should be recorded as receivables/payables.

Document special transactions: Loans, owner investments or withdrawals, asset purchases, or other non-routine transactions that need specific accounting treatment.

List all bank accounts and merchant processors: Include account numbers, currency, and purpose for each account.

Businesses arriving organized typically complete onboarding in 4-6 weeks versus 8-12 weeks for those requiring the accounting provider to piece together information from scattered sources.

Frequently Asked Questions

How much do accounting and bookkeeping services cost in Dubai for a small business?

Small businesses with 50-150 monthly transactions typically pay AED 1,500-3,000 per month for comprehensive bookkeeping including transaction recording, bank reconciliation, financial statement preparation, and quarterly VAT return filing. This assumes a straightforward business model (single revenue stream, simple expense categories, no inventory). Add AED 500-1,000 monthly if you need monthly VAT returns instead of quarterly. Annual audit fees add AED 4,000-12,000 to your total compliance cost depending on whether you’re mainland (audit mandatory) or free zone (audit required above revenue thresholds or by free zone authority).

Do I need a licensed auditor or can any accountant handle my books?

UAE law distinguishes between bookkeeping/accounting (which any qualified accountant can perform) and statutory audit (which requires specific licensing). Monthly bookkeeping, VAT return preparation, and tax compliance can be handled by professional accounting firms without audit licenses. However, the annual audit required for mainland companies and many free zone entities must be conducted by a licensed audit firm with auditors holding credentials from recognized professional bodies (SOCPA in Saudi Arabia, ICAI in India, ACCA, CPA, etc.) and registered with UAE regulatory authorities. Most comprehensive accounting firms either hold audit licenses themselves or have partnerships with licensed audit firms, providing one-stop service.

What happens if I miss a VAT filing deadline in Dubai?

The Federal Tax Authority imposes automatic penalties for late VAT return filing and late payment. Late filing penalties start at AED 1,000 for returns filed 1-14 days late, increasing to AED 2,000 (15-30 days late) and AED 3,000 (over 30 days late). Late payment penalties are more severe: 2% of unpaid tax amount if paid within seven days of the deadline, increasing by 4% on the 8th day, then an additional 1% per day up to a maximum of 300% of the tax due. Beyond financial penalties, repeated late filing can trigger FTA audits, business registration suspension, or in extreme cases, criminal prosecution. If you realize you’ll miss a deadline, file the return on time (even if you can’t pay immediately) to avoid the filing penalty, then arrange payment to minimize late payment penalties.

Can I switch accounting providers mid-year without creating compliance problems?

Yes, you can switch accounting providers at any time, though transitions are smoother at fiscal year-end. When switching mid-year, your new provider will need to review year-to-date transactions to ensure continuity and correct any issues from the previous provider. Request a complete handover package from your current provider including all transaction records, reconciliations, and filed returns through the transition date. UAE regulations require accounting firms to provide this data—it’s your business information, not theirs. The main compliance risk isn’t the switch itself but gaps in transaction recording during the transition. Minimize this by scheduling overlap (keeping the old provider through month-end while the new provider starts the following month) or ensuring your new provider explicitly commits to reviewing and reconciling the transition period.

Do free zone companies have the same accounting requirements as mainland companies?

Free zone accounting requirements vary by zone and business size, but are generally less stringent than mainland requirements for small businesses. Mainland companies must have audited financial statements annually regardless of revenue or size—this is a UAE company law requirement. Free zone companies typically require external audits only above specific revenue thresholds (commonly AED 1 million annual revenue, though this varies by free zone) or if mandated by the free zone authority for license renewal. Both mainland and free zone companies must maintain proper accounting records, file VAT returns if registered, and comply with UAE corporate tax requirements (effective from June 1, 2023). The practical difference is that a small free zone business under the audit threshold can sometimes operate with basic bookkeeping services (AED 800-1,500 monthly) without annual audit fees (saving AED 4,000-8,000 annually), while mainland companies always need audit-ready accounting and the audit itself.

What accounting records must I keep and for how long under UAE law?

UAE commercial companies law requires businesses to maintain complete accounting books showing all transactions, assets, and liabilities for at least five years from the end of the financial year to which they relate. This means not just summary financial statements but detailed transaction records, invoices, receipts, contracts, and bank statements. VAT law has stricter requirements—VAT-registered businesses must maintain records for seven years, including detailed documentation supporting every VAT return filed (tax invoices issued and received, import/export documentation, credit notes, bad debt relief claims, etc.). Corporate tax regulations similarly require seven-year retention of records supporting tax returns, including transfer pricing documentation. Practically, this means maintaining organized digital and/or physical archives going back seven years from current date. Businesses that cannot produce required documentation during FTA or tax authority audits face penalties and potential tax assessments based on estimated figures (which are invariably higher than actual).

How do I know if my current accounting provider is doing a complete job?

Several indicators reveal whether your accounting provider delivers comprehensive compliance versus just basic bookkeeping. You should receive detailed monthly reports (profit and loss, balance sheet, cash flow statement) by the 15th of the following month consistently. Your balance sheet should show accurate accounts receivable and payable aging that matches your actual customer/vendor balances when you spot-check. VAT returns should be filed before the deadline