A clean monthly close is what makes VAT and CT filings painless. Run this checklist by the 10th of every month.
The 12-point close
- Bank reconciliation — every account
- Credit card & petty cash reconciliation
- AR ageing review + follow-ups
- AP ageing + supplier invoice matching
- Payroll processed + WPS SIF uploaded
- VAT-tagging of all invoices (5% / 0% / exempt)
- Fixed assets — additions & depreciation
- Prepaid & accrued expenses
- Inventory count (if applicable)
- Intercompany reconciliations
- Draft P&L + Balance Sheet review
- Close period in accounting software
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Frequently asked questions
Quick answers to common UAE bookkeeping questions.
This article is for general guidance only and reflects FTA rules as of July 2026. Always confirm your specific position with a qualified UAE tax advisor.