FAQs about mazeed

If you are a business owner in UAE looking to reduce costs and time, the “Growth” package is ideal. You get automated accounting software supported by FTA-certified accountants and tax agents, automating everything from maintaining accurate books to optimizing and submitting tax returns, while you can monitor performance from the mobile app and gain insights.

If you are an accountant looking to reduce the time you spend on annual accounting tasks, our “Lite” package is the best for you, providing automated accounting software to increase your efficacy.

mazeed uses automated accounting software supported by certified accountants and tax experts in one place to automate routine financial tasks and streamline processes such as invoicing, expense tracking, bookkeeping, and financial reporting to save you money, time, and effort.

Yes, as one of the best accounting software in uae, mazeed is vat compliant accounting software and fulfills all FTA standards requirements.

• Multilingual support: Arabic and English are the primary languages in the UAE.

• Compliance with UAE accounting standards: Ensure the software adheres to local regulations like IFRS.

• VAT integration: The UAE has implemented VAT. Software should handle VAT calculations, reporting, and compliance.

• Integration with local banking systems: Seamlessly connect to UAE banks for online transactions and reconciliation.

• Support for Arabic fonts and character sets: Accurate representation of Arabic text and numbers is crucial.

Yes,

mazeed is a good QuickBooks alternative in UAE.

mazeed is financial management tailored specifically for businesses in the GCC, combining AI-powered accounting software with FTA-certified accountants and tax agents experts to help streamline financial management.

With features like local tax compliance, real-time financial insights, inventory tracking, and invoicing, mazeed offers an all-in-one solution that’s affordable, intuitive, and fully compliant with regional standards.

• Automatic VAT calculations: The software should accurately calculate VAT based on product or service rates.

• VAT reporting: Generate VAT returns in the required format for submission to the Federal Tax Authority (FTA).

• VAT refunds: Track and claim VAT refunds when eligible.

• Multi-currency support: The software should allow for transactions in multiple currencies, including the UAE dirham and other commonly used currencies.

• Exchange rate management: Track and update exchange rates to ensure accurate financial reporting.

• Tax calculations and reporting: The software should be capable of handling corporate tax calculations and generating the necessary reports.

• Tax compliance: Ensure the software supports the specific requirements of the UAE’s corporate tax laws.

• Data privacy: Ensure the software has robust data encryption and security measures to protect sensitive financial information.

• Cloud vs. on-premises: Evaluate the security implications of cloud-based vs. on-premises software.

• Regular updates and patches: Keep the software up-to-date with the latest security patches.

Simply scan a photo of your receipts or invoices, and the app will automatically extract and categorize the data for you. It’s that easy!

Absolutely! You can create and send professional invoices in just a few taps, right from your mobile device. Plus, you can track payments and send reminders directly from the app.

Definitely. All your data stays synced across your phone, tablet, and desktop, so you always have the latest information at your fingertips.

Yes, you can! Get instant insights into your cash flow, profits, and expenses with real-time reports that are always up to date.

It sure does! The app automatically tracks your expenses and categorizes deductions, making tax season a breeze.

Yes, our app is designed to help small business owners manage their finances efficiently, on the go. It’s intuitive, easy to use, and packed with features to simplify your accounting.

Invoicing software is a tool used to create, send, and track invoices for goods or services provided. It helps businesses manage their finances efficiently and get paid faster.

Invoicing software typically allows you to create professional-looking invoices, customize them with your company logo and branding, and send them electronically to your clients. It also helps you track payments, send reminders, and generate reports.

Some key features to consider include:

• Customizable templates: Ability to create invoices that match your brand.

• Automated reminders: Automatic reminders for overdue payments.

• Online payments: Accept payments directly through your invoices.

• Payment tracking: Monitor the status of your invoices and payments.

• Integration with other tools: Ability to connect with other business tools.
• Regulation: Compliance with the FTA rules for the e-invoicing format and its ability to calculate the VAT immediately.

Invoicing software can help your business by:

• Saving time: Automating tasks like creating invoices and sending reminders.

• Improving cash flow: Getting paid faster by sending invoices promptly and following up on overdue payments.

• Looking professional: Creating professional-looking invoices that reflect your brand.
• Staying organized: Tracking invoices and payments in one place.

Yes, we offer mazeed invoicing software for free. You can add paid additions if you need to.

Yes, mazeed integrates seamlessly with most ecommerce and POS platforms in addition to bank accounting integration to ensure all invoices and transactions are recorded automatically.

Yes, Bookkeeping is now mandatory in the UAE. It ensures accurate financial records, compliance with tax regulations, and informed business decisions.

All supplies of commercial properties are subject to VAT at 5%, and this includes all buildings or parts thereof that are not residential buildings.

UAE Corporate Tax applies to juridical persons incorporated in the UAE and juridical persons effectively managed and controlled in the UAE, as well as to foreign juridical persons that have a permanent establishment in the UAE.

Individuals will be subject to Corporate Tax only if they are engaged in a business or business activity in the UAE, either directly or through an unincorporated partnership or sole proprietorship.

Any taxable entity in the UAE must register with the FTA, regardless of whether earned income exceeds the AED 375,000 threshold.

No, Corporate Tax and VAT are two different types of taxes. Both will continue to apply in the UAE.

A Chief Financial Officer (CFO) is a high-level executive responsible for a company’s financial strategy and performance. They oversee financial planning, budgeting, reporting, and risk management.

CFO services can provide businesses in UAE with:

• Financial expertise: Access to specialized financial knowledge and guidance.

• Strategic planning: Assistance in developing and implementing financial strategies aligned with business goals.

• Cost reduction: Identification of opportunities to reduce costs and improve efficiency.

• Risk management: Mitigation of financial risks through effective planning and control.

• Improved decision-making: Data-driven insights to support informed business decisions.

If your business is experiencing rapid growth, facing complex financial challenges, or seeking to improve its financial performance, a CFO services can be the right solution.

Hiring a dedicated CFO for your business costs a budget not all businesses can afford. On the other hand, CFO service is more cost-effective and fits startups and small businesses.

CFO services typically provide a wide range of offerings in UAE, including:

• Financial planning and forecasting

• Budgeting and cost control

• Financial reporting and analysis

• Cash flow management

• Risk management

• Mergers and acquisitions

• Tax planning and compliance

CFO services can contribute to business growth by:

• Identifying opportunities for expansion

• Evaluating potential acquisitions or partnerships

• Optimizing financial resources for growth initiatives