Top 8 Accounting Software Solutions in the UAE

It's hardly an overstatement to suggest that accounting software has emerged as an indispensable ally for business owners and entrepreneurs alike. These sophisticated tools not only streamline the arduous tasks of accountants by automating the tracking of payments and receivables but also simplify tax management and generate insightful financial reports. This aids businesses in enhancing operational efficiency and making informed strategic decisions.

In the United Arab Emirates, the financial and business communities are increasingly recognizing the value of these digital solutions. This trend is in line with the nation's ambitions to foster business expansion and transition towards cutting-edge technological applications, now considered a cornerstone of global business success. This article delves into the premier accounting software options available in the UAE, offering insights into how these tools can transform business operations.

Top Accounting Software in the UAE

The accounting programs vary in terms of business size and nature. Here are 8 key programs in the UAE:

• Wafeq
• QuickBooks
• Xero
• SMACC
• Zoho Books
• NetSuite
• Oracle
• Microsoft Dynamics

Wafeq

Wafeq stands as the latest certified cloud accounting software for e-invoicing in the UAE, garnering trust from a wide array of clients and businesses due to its user-friendly interface, sleek design, and extensive functionality.

Features of Wafeq

• Boasts a modern, intuitive user interface that users can quickly master.
• Supports both Arabic and English, accommodating a diverse user base.
• Enables customization of invoices to reflect your company’s brand identity.
• Permits uploading a unique company stamp for consistent branding across all documents, such as invoices, quotes, and purchase orders.
• Capable of managing a substantial volume of financial documents and files.
• Offers a variety of pricing packages to suit different budgetary needs.

Advantages and Benefits of Wafeq

• Generates VAT returns automatically in the format mandated by the tax authority.

• Allows for the creation of numerous sub-accounts, enabling more detailed and accurate financial reporting.

• Facilitates the tracking of sales, expenses, and cash flows.

• Delivers automated reports that summarize your company’s financial performance.

• Sorts invoices by status and dispatches timely reminders to clients.

• Enables the sending of payment receipts directly to clients via Wafeq.

• Automatically adjusts stock quantities during the purchase and sale of goods.

Pricing

Integration with External Systems (API)

Wafeq offers unlimited bulk e-invoicing for any personal app or website, with automatic synchronization of your online store data with your physical locations.

Number of Users

Unlimited.

Technical Support

Wafeq excels in providing technical support and customer service by phone, email, and WhatsApp, entirely free of charge.

Read more: Empowering Business Growth with Wafeq's Advanced Accounting Program.

QuickBooks

QuickBooks is a well-regarded accounting program, offering a variety of software solutions that assist accountants in performing calculations more effectively.

Features of QuickBooks

• Easy to use.
• Provides tutorials and training courses.
• Suitable for small and medium-sized companies.
• Does not support Arabic.

Advantages and Benefits of QuickBooks

• Offers software integration and automatic data transfer and bill payment.
• Allows comparison of cash flows across different accounting periods.
• Provides multiple HR programs for payroll management.

Pricing

Integration with External Systems (API)

QuickBooks provides API integration with external systems and applications.

Number of Users

Allows one primary user and up to five users at an additional cost per new user.

Technical Support

Offers free customer services.

Xero

Xero is among the most significant accounting management software for companies, particularly small and start-up firms, making it a preferred financial application in the market.

Features of Xero

• Features an easy-to-use dashboard.

Advantages and Benefits of Xero

• Enables the sending of sales invoices and purchase orders.
• Allows tracking of suppliers and customers.
• Helps in understanding the value of fixed assets, inventory, and financial obligations.
• Provides a detailed list of actions for each financial transaction.
• Assists in tracking projects and profits.
• Can process and accept payments in multiple currencies.

Pricing

Integration with External Systems (API)

Xero can synchronize with data, systems, and various applications through a set of electronic payment and human resources management software.

Number of Users

Allows an unlimited number of users but with limited permissions.

Technical Support

Xero provides robust customer support, including email assistance.

SMACC

SMACC is an accounting program launched in 1988 in an attempt to help companies track their financial matters and meet technical client requirements.

Features of SMACC

• Comprises several integrated subsystems in one framework.
• Offers a free trial without the need for payment details.

Advantages and Benefits of SMACC

• Helps in managing the balance sheet.
• Allows for managing fixed assets and calculating depreciation rates, sales, purchases, inventory, point of sale, and various employee affairs.

Pricing

Integration with External Systems (API)

SMACC offers API features, though it is best to use the program's internal systems to enhance usage efficiency and quality.

Number of Users

Allows only up to 4 users as a maximum.

Technical Support

Provides free customer support services.

Zoho Books

Zoho Books enables companies to keep financial books without the need for a large number of accountants.

Features of Zoho Books

• Features an interface that is easy to understand and learn.
• Highly secure to protect the application from manipulation and fraud.
• Suitable only for small companies.

Advantages and Benefits of Zoho Books

• Helps in creating cash accounts for clients.
• Automates company workflows.
• Allows you to create various jobs to cover unique business use cases.

Pricing

Integration with External Systems (API)

Zoho Books offers API integration and compatibility with a series of applications and services needed to activate the program.

Number of Users

Allows the addition of one extra user for free and up to ten users as a maximum.

Technical Support

Provides appropriate support, with access to a support and assistance team to help you.

NetSuite

NetSuite enables all companies of various sizes to manage their business and commercial activities more efficiently.

Features of NetSuite

• Simplifies accounting and helps companies in managing core operations centrally.
• Offers various accounting deployment options.
• Somewhat complex and best suited for large companies, not small or medium ones.

Advantages and Benefits of NetSuite

• Automates business tasks and provides easy access to important information.
• Allows customization of accounting solutions to fit your company's budget.
• Assists in generating high-level reports.
• Allows setting and tracking of key performance indicators over specified periods.

Pricing

Integration with External Systems (API)

NetSuite offers electronic API integration.

Technical Support

NetSuite provides free currency support and services.

Oracle

Oracle helps in managing all financial data and operates in many companies worldwide.

Features of Oracle

• Offers flexibility in adjusting and adding financial accounts.
• The program is continuously updated.

Advantages and Benefits of Oracle

• Includes a suite of integrated business intelligence tools such as charting tools, report creation, and search capabilities.
• Helps clients save and organize financial information.
• Helps in creating receipts and invoices.

Pricing

Integration with External Systems (API)

Oracle provides external API integration but faces some programming issues with several databases.

Technical Support

Oracle provides good technical support.

Microsoft Dynamics Software

Microsoft Dynamics is a specialized program for managing and planning a company's financial and administrative resources, as well as organizing procurement, sales, inventory management, manufacturing, and project management, and other strategic business operations.

Features of Microsoft Dynamics

• The program adapts to changes based on client needs.
• Available in two versions, one for small businesses and another for medium to large companies.

Advantages and Benefits of Microsoft Dynamics

• Helps in tracking and updating data.
• Stores financial entries and data with high quality.
• An excellent tool for increasing control over the financial system.
• Relies on modern artificial intelligence tools for decision-making and financial analyses.
• Divides the program into various modules such as sales, marketing, and projects.

Pricing

Integration with External Systems (API)

While Microsoft Dynamics often links its database with an electronic cloud (either Amazon's or Microsoft's), the system can also be linked to a local database.

Technical Support

Microsoft Dynamics offers multi-channel tools for engaging customers, individual option windows, and a variety of tools for community involvement and technical support.