How to solve 3 common dealership accounting issues in the UAE

01 Jul 2021 Helpful Tips

Accounting is the most important part of any business. For many dealers in the UAE, accounting and VAT present many frustrations.

It is so important that your accounting is correct, accurate, and compliant at all times or you could face significant penalties.

Here’s how to solve 3 common dealership accounting issues in the UAE:

Automate VAT calculations

Value-added Tax (VAT) is so important for all dealers in the UAE. Many dealers and accountants struggle to understand how to calculate and report on VAT as it differs in the motor industry. If accountants struggle with VAT calculations, it comes as no surprise that many dealers in the UAE do too.

If you don’t automate your VAT process, you may overpay or underpay tax and risk getting heavy penalties.

Automating your VAT process through EasyCars dealer management system removes all the common frustrations associated with VAT calculations and reporting. Most important EasyCars reduces your risks of inaccuracies that lead to heavy penalties.

Using innovative technology, EasyCars automatically calculates dealer VAT, syncs to accounting platform Xero and provides valuable reports for submission to the FTA.

With EasyCars, you no longer need to worry about common VAT errors or manual calculations.

Centralise your dealership accounting

Are you entering financial information into multiple locations? Entering data into different systems wastes time and there is a high chance of error. The simplest of mistakes could cost your dealership thousands!

For motor dealers in the UAE it's time to consider EasyCars. EasyCars syncs to industry-leading accounting program – Xero. The EasyCars sync is two-way which means all data is transferred instantly and accurately from one program to the other.

The benefit of EasyCars & Xero integration is it reduces the risk of costly errors and it is more convenient for accountants and bookkeepers. 

EasyCars provides dealers with a solution that automates your advertising, VAT calculations, stock management, website listings, business reporting and accounting in one central location.

Reduce your accounting costs

Many dealers are faced with large (but necessary) accountant fees. But there are ways to reduce your accounting costs. Many accountants charge per hour which means the more time your accountant needs the more you will pay.

If you have EasyCars, you can easily link to Xero  – The benefit of this is all financial information syncs between programs instantly and accurately. Why is this valuable?

Syncing EasyCars to Xero ultimately lowers your accounting expenses and puts more money back into your pocket.

To put it simply,

EasyCars solves common dealership accounting and tax issues - giving you complete peace of mind so you can focus on looking after your customers and growing sales.

For more information on EasyCars contact us today on 0545 086 000 or fill in the form below for a demo of EasyCars.

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