Retail and E-commerce Accounting Services in Dubai, UAE

The rapid expansion of the UAE’s e-commerce sector demands more than just basic bookkeeping; it requires specialized, compliant financial management. For retail and e-commerce businesses operating in Dubai, maintaining accurate financial records is essential for navigating the complexities of VAT, corporate tax, and inventory management. Oncount stands as a leading accounting firm in Dubai, offering structured and compliant accounting services tailored to the unique operational challenges of the e-commerce industry.

We deliver accuracy, regulatory compliance, and dedicated support to meet all UAE corporate tax and Federal Tax Authority (FTA) requirements, ensuring your business is built on a foundation of financial integrity.

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Comprehensive Retail and E-commerce Accounting Solutions

We sync data from your website, marketplaces, and payment systems to ensure every online transaction is accurately reflected in your accounting and tax reports. Inventory management, returns processing, VAT on sales and imports, marketplace fees (Amazon, Noon), and reconciliation with payment gateways (Stripe, Tabby)—we handle the financial details so you can focus on growing your sales.

What We Do:

Integration with E-commerce Platforms & Payment Gateways

We set up automatic data synchronization with Shopify, WooCommerce, Amazon, Noon, and other platforms.
We integrate and reconcile payments from gateways like Stripe, Tabby, and Tamara with bank statements.
We ensure accurate recording of all commissions, shipping fees, and marketing expenses.

Accounting Policy and Inventory Management

We develop a tailored accounting policy covering revenue recognition, Cost of Goods Sold (COGS), and returns processing.
We establish a robust inventory accounting system, reconciling warehouse data with your storefront and financial records.
We assist with inventory valuation and write-offs for obsolete stock.

Taxes (VAT and Corporate Tax)

We ensure the correct calculation and payment of VAT on all transactions, including domestic sales, exports, and imports.
We manage the proper accounting for import VAT and customs duties on procured goods.
We prepare and file VAT and Corporate Tax returns and liaise with the FTA.

Control and Financial Analysis

We perform monthly reconciliations of all payment gateway payouts against sales data, identifying any discrepancies.
We track profitability by sales channel and by individual SKU (Stock Keeping Unit).
Monthly Closings: You receive clear Profit & Loss statements, cash flow reports, and insights into your business’s profitability.

Payroll and WPS

We manage the complete payroll cycle for your warehouse, marketing, and administrative staff.
We ensure timely salary payments through the WPS (Wage Protection System).

Communication and Collaboration

Regular calls to analyze financial performance and discuss strategy.
Ongoing support on matters of pricing, tax planning, and cash flow management.

Oncount provides end-to-end accounting solutions designed to ensure your e-commerce business operates with maximum efficiency and transparency. Our professional accounting services are meticulously aligned with UAE laws, ensuring every financial transaction is correctly recorded and reported. We customize our delivery to integrate seamlessly with your e-commerce platform, from Shopify to Amazon FBA, providing clarity on everything from cost of goods sold (COGS) to multi-currency transactions.

Our tailored support is grounded in a deep understanding of relevant local legislation, including:

Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses: We structure your chart of accounts and financial statements to be fully compliant with UAE Corporate Tax law, helping you manage liabilities and claim eligible deductions.
Federal Decree-Law No. (8) of 2017 on Value Added Tax: Our team ensures your e-commerce sales and returns are correctly processed for VAT, managing submissions and maintaining proper accounting records as stipulated by the FTA.
Consumer Protection Regulations: We help you align your refund and return accounting practices with consumer rights laws, ensuring financial transparency and operational compliance.

What is E-commerce Accounting?

E-commerce accounting is a specialized field of accounting focused on the unique financial needs of online retailers. It involves tracking high-volume transactions, managing digital payment gateways, accounting for inventory across multiple locations, and ensuring tax compliance for online sales. At Oncount, our accounting services for e-commerce companies provide a comprehensive framework for financial control.

Our core deliverables include:

Accurate Transaction Recording: Capturing every sale, refund, and fee from platforms like Stripe, PayPal, and Telr, and reconciling them with your bank statements.
Inventory Management Support: Implementing systems to track inventory levels, cost of goods sold (COGS), and stock valuation, which is critical for accurate financial statements.
Sales Tax and VAT Compliance: Correctly calculating, collecting, and remitting Value Added Tax (VAT) on e-commerce sales, ensuring full compliance with FTA regulations.
Financial Reporting: Preparing monthly and annual financial statements, including Profit & Loss, Balance Sheets, and Cash Flow Statements, to provide clear insights into your business performance.
Corporate Tax Preparation: Ensuring your financial records are maintained in a compliant manner, ready for the calculation and filing of UAE Corporate Tax returns.

Bookkeeping and Financial Reporting Services

Daily recording of all financial transactions from various sales channels.
Bank and payment gateway reconciliation to ensure all funds are accounted for.
Management of accounts payable and receivable.
Preparation of bespoke management accounting reports for strategic decision-making.
Full maintenance of your accounting system using advanced accounting software like Zoho Books, Xero, or QuickBooks.

VAT and Corporate Tax Compliance

VAT registration and deregistration services.
Monthly or quarterly VAT return filing and submission to the FTA.
Ensuring proper accounting for import/export transactions for e-commerce businesses in the UAE.
Strategic advisory on UAE Corporate Tax law applicability and tax planning.
Assistance during a tax audit by the Federal Tax Authority.

Steps for Setting Up E-commerce Accounting in Dubai

Establishing a proper accounting process from day one is critical for success in the UAE market. Oncount guides you through a structured setup:

Business Structure Analysis

We assess your trade license (mainland or free zone) to determine the specific accounting standards and tax rules that apply.

Select the Right Accounting Software

We help you choose and configure an accounting software (e.g., Zoho, Xero) that integrates with your e-commerce platforms and payment gateways.

Chart of Accounts Customization

We create a tailored chart of accounts that reflects the unique revenue streams and costs of an e-commerce business, including categories for shipping fees, transaction fees, and marketing spend.

Integration of Sales Channels

We connect your online stores (e.g., Shopify, WooCommerce, Amazon) to the accounting system to automate the flow of financial information.

Establish Inventory Management Process

We set up a system for tracking inventory, managing COGS, and valuing stock in a compliant manner.

VAT Registration and Setup

If turnover exceeds the mandatory threshold, we manage the VAT registration process with the FTA and configure your systems to handle VAT correctly.

Corporate Tax Assessment

We review your operations to ensure the accounting setup is prepared for UAE Corporate Tax obligations.

Ongoing Bookkeeping and Reporting

We establish a monthly workflow for bookkeeping and accounting, providing you with timely and accurate financial reports.

Legal Requirements in Dubai: Why Accurate Accounting is Crucial for Businesses

In the UAE, maintaining proper accounting records is not just good practice—it’s a legal requirement. For retail and e-commerce businesses, accurate financial records are essential for demonstrating compliance, securing financing, and making informed strategic decisions. The consequences of improper accounting can be severe, impacting your operational license and financial standing.

Accurate accounting and bookkeeping are crucial for:

Legal Compliance: Adhering to the UAE Commercial Companies Law, which mandates that all businesses in the UAE maintain financial records for at least five years.
Tax Obligations: Ensuring you can accurately calculate and pay your Value Added Tax (VAT) and UAE Corporate Tax liabilities, avoiding penalties for errors or late filings.
Audit Preparedness: Having organized and accurate financial information ready for an external audit, which may be required by authorities, banks, or investors.
Business Viability: Providing a clear view of your company’s financial health, which is vital for planning, budgeting, and securing investment.

Applicable Laws & Resolutions

Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses
Cabinet Decision No. (75) of 2023 on Administrative Penalties for violations of the Tax Law
Federal Decree-Law No. (8) of 2017 on Value Added Tax and its Executive Regulations
UAE Commercial Companies Law (Federal Decree-Law No. 32 of 2021)

Risk & Penalty Mitigation

Non-compliance with UAE accounting and tax regulations can lead to significant financial penalties. Oncount’s expert accounting services help you mitigate these risks.

Fines for Missing Registration: Avoid penalties for late VAT or Corporate Tax registration by ensuring timely compliance based on your revenue.
Loss of Tax Benefits due to Misclassification: We ensure transactions are classified correctly to prevent issues like the disallowance of input VAT recovery or deductible expenses under Corporate Tax.
Proactive Compliance Management: We utilize compliance dashboards, secure backup systems, and automated alerts to track deadlines for tax returns and other statutory filings, preventing costly oversights.

About Oncount: Top E-commerce Accounting Firm in UAE

Oncount is a premier UAE-based accounting and regulatory consulting firm specializing in the retail and e-commerce sector. Our accounting solutions are designed to be fully compliant with FTA mandates and international accounting standards (IFRS). As a trusted partner in the UAE, we provide accounting services that empower e-commerce businesses to achieve sustainable growth and full regulatory adherence.

8+ Years of Local Experience, 320+ Clients Served

Multilingual Service: Our team offers professional accounting services in English, Arabic, and Russian to support diverse businesses operating in the UAE.
Full Regulatory Adherence: Deep expertise in mainland, free zone (e.g., DMCC, JAFZA), and international accounting practices.
Proven Track Record: Our experience with over 320 clients demonstrates our capability in handling complex accounting for e-commerce businesses.

Clarity Over Routine: Professional Accountant and Consultants in Dubai

We move beyond routine accounting tasks to provide strategic financial management. Every client is assigned a dedicated manager to ensure seamless communication and execution.

Structured Workflows: We implement clear monthly workflows with deadline tracking for all accounting and tax-related activities.
Comprehensive Support: Our services extend beyond numbers to include support for complex financial planning and investor-ready documentation.
Digital-First Communication: We utilize digital platforms for efficient communication and provide cloud access to financial information and compliance dashboards.

Why Choose Us for Retail and E-commerce Accounting Services in Dubai

Choosing the right accounting firm in Dubai is a critical decision for any e-commerce firm. Oncount is a leading authority because our approach is built on a foundation of quality, technical accuracy, and unwavering client support. We offer comprehensive accounting solutions that are best suited for the dynamic UAE’s e-commerce landscape.

Quality Control Process

Dual Document Reviews: A maker-checker process ensures every financial statement and tax return is reviewed for accuracy before finalization.
Periodic Audits: We conduct internal audits of your accounting records to ensure ongoing compliance with accounting standards.
SOP Alignment: Our standard operating procedures are continuously updated to align with the latest guidelines from the FTA and other authorities.
Legal Document Verification: All financial reporting is cross-referenced with your legal documentation to ensure complete consistency.

Legal and Technical Accuracy

Certified Tool Usage: We are proficient in certified, advanced accounting software like Zoho, Xero, and QuickBooks, ensuring your data is secure and efficiently managed.
Integrated Workflows: Our accounting process integrates seamlessly with tax and compliance requirements, creating a unified financial management system.
Custom Tech Setup: We tailor the accounting system and software setup to the specific needs of your e-commerce business and sector.

Multilingual, Real-Time Support

4-Language Communication: Our team can communicate fluently in English, Arabic, Hindi, and Russian.
SLA-Based Responses: We guarantee timely responses based on a pre-agreed Service Level Agreement (SLA).
Cloud Access: Clients get 24/7 access to their financial information and compliance dashboards via secure cloud portals.

Outsourcing E-commerce Accounting Services: The Smart Choice for Dubai Businesses

Outsourcing your accounting allows you to focus on growing your e-commerce business while leaving the complex accounting and compliance work to experts. For retail and e-commerce businesses in Dubai, the benefits of outsourcing accounting to a specialized firm like Oncount are substantial.

More Time for Core Growth: Free up your internal resources to focus on marketing, product development, and customer service instead of complex accounting tasks.
Lower Costs Than In-House Teams: Reduce overhead costs associated with hiring, training, and retaining a full-time in-house accounting team.
Strategic Support and Guidance: Gain access to expert advice on financial management, tax planning, and business strategy to drive success in the UAE market.
Risk Reduction: Minimize the risk of non-compliance, penalties, and financial errors with professional oversight from an experienced accounting company.
Real-Time Data Insights: Leverage accurate, up-to-date financial data to make faster, more informed business decisions.
Full Legal and Compliance Alignment: Ensure your business is always compliant with the evolving regulations of the UAE, from VAT to corporate tax.

Frequently Asked Questions About E-commerce Accounting Services in Dubai

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Why is specialized accounting for e-commerce businesses so important in the UAE?

The e-commerce industry has unique characteristics, such as high transaction volumes, multiple payment gateways, complex inventory management, and specific VAT rules for digital sales. Specialized e-commerce accounting ensures all these elements are recorded accurately, providing compliant financial records for both VAT and the new UAE Corporate Tax regime.

Which accounting software is best for an e-commerce business in Dubai?

The best accounting software (e.g., Zoho Books, Xero) is one that integrates seamlessly with your e-commerce platforms (like Shopify or Amazon) and is approved by the FTA. We help you select and implement the right accounting software tailored to your specific needs.

How does VAT apply to e-commerce sales in the UAE?

VAT at 5% generally applies to goods and services sold by an e-commerce business to customers in the UAE. There are specific rules for imports, exports, and digital services. Our professional accounting services ensure you correctly charge, collect, and file Value Added Tax returns with the FTA.

Can I manage e-commerce accounting myself?

While possible, the complexity of UAE tax laws and the high volume of transactions can make DIY accounting risky. Errors can lead to significant penalties. Outsourcing e-commerce accounting to an expert firm ensures compliance and accuracy, allowing you to focus on your core business.

What financial statements are necessary for an e-commerce company in Dubai?

At a minimum, you need a Profit & Loss Statement, a Balance Sheet, and a Cash Flow Statement. These core financial statements are essential for tracking performance, making decisions, and meeting your legal obligations under UAE Corporate Tax law.

How do I account for inventory and cost of goods sold (COGS) correctly?

Proper inventory accounting involves tracking the cost of purchased goods, managing stock levels, and accurately calculating the Cost of Goods Sold when a sale is made. Using an inventory management system integrated with your accounting software is the best practice for maintaining accurate financial records.

Does the UAE Corporate Tax apply to my e-commerce business?

Yes, UAE Corporate Tax applies to most businesses in the UAE, including e-commerce companies. If your net profit exceeds AED 375,000, you will be subject to a 9% tax. Maintaining compliant accounting records is mandatory for all businesses to accurately determine their tax liability.

Let’s elevate your business

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+971 589 217 784

Join the Team

info@oncount.com

Visit us

The One Tower — 15th floor, office 14
Sheikh Zayed Road — Dubai, United Arab Emirates

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