Accurate Year-End Adjusting and Closing Entries for UAE Businesses
Prepare clean, compliant year-end financials with AL SAHRAA. We handle adjusting entries, accruals, deferrals, and closing entries so your books reflect true financial position at year-end.
Overview
AL SAHRAA helps UAE companies complete year-end adjusting and closing entries to ensure financial statements are accurate and ready for reporting or audit. We identify necessary accruals, deferrals, prepayments, depreciation, and inventory adjustments aligned with your accounting policy. Our team posts and documents closing entries, closes revenue and expense accounts to retained earnings, and prepares a post-closing trial balance. We work with your accounting system (Zoho Books, QuickBooks, Xero, Tally) to ensure adjustments are recorded consistently and transparently. We provide clear supporting schedules and explanations for each adjustment so management and auditors can follow the work. Services are tailored to the size and complexity of your operations across Dubai, Ajman, and the wider UAE.
What to prepare
- Most recent trial balance
- General ledger and sub-ledgers (payables/receivables/payroll)
- Fixed asset register and depreciation policy
- Bank statements and reconciliations for the period
- Inventory count reports (if applicable)
- Contracts and prepaid expense schedules
- Previous year financial statements and working papers
How the process works
- Initial review of trial balance and prior year working papers
- Identify required accruals, deferrals, depreciation and inventory adjustments
- Prepare adjusting journal entries with supporting schedules
- Post closing entries and close temporary accounts to retained earnings
- Deliver post-closing trial balance and explanatory report
Why clients choose AL SAHRAA
- Admin-reviewed quotations before you proceed.
- Document coordination and progress tracking in one portal.
- Support for business, compliance, visa, insurance, and IT-related requests.
- Clear request history, updates, and delivery follow-up.
Frequently asked questions
What is the difference between adjusting entries and closing entries?
Adjusting entries update account balances for accruals, prepayments, depreciation and errors before preparing financial statements. Closing entries transfer temporary account balances (revenues and expenses) to retained earnings to start the new period with zeroed nominal accounts.
How long does a year-end close typically take?
Timing depends on business complexity and data readiness. A small business with organized records can close in a few days; more complex operations or backlog items may take several weeks. We provide a timeline after initial review.
Can you work within our accounting software?
Yes. We work with Zoho Books, QuickBooks, Xero, and Tally and will post entries directly or provide journal files and instructions depending on your preference.
Will you prepare documents for audit purposes?
We prepare supporting schedules and clear documentation for each adjustment to facilitate internal review or external audit. We do not perform audits but we aim to make auditor requests straightforward.
How do you handle unusual or one-off adjustments?
Unusual adjustments are reviewed with management to determine appropriate accounting treatment and documentation. We provide rationale, accounting references, and impact analysis before posting entries.