Sage Launches First VAT-Compliant Cloud Accounting Software for SMEs in UAE

Sage, the market and technology leader in integrated cloud accounting, payroll, and payment systems, has launched Sage One, a valued-added tax (VAT)-compliant cloud-based accounting software catering to the needs of Small & Medium Businesses, in the UAE.

Sage One is an affordable and user-friendly solution that aims to simplify running a business in the UAE, from managing cash flow to employee salaries. Entrepreneurs can access the platform online, via a mobile phone or tablet while on the go. To address security concerns, the software comes equipped with world-class password encryption.

The newly launched solution is part of Sage’s vision of invisible accounting – leveraging automation and business intelligence to enhance the effectiveness of entrepreneurs and drive business success.

Pieter Bensch, Executive Vice President for Africa and Middle East at Sage, said: “Sage’s business management solutions help entrepreneurs focus on what really matters – delivering quality products and services to their customers. Sage One seeks to help realise the ambitions of Small & Medium Businesses, that account for 95 percent of the UAE’s business ecosystem. We are delighted to roll out the software in the Middle East region. Given the fact that it offers all the essential elements a small business needs to run with the utmost efficiency and flexibility, we are confident Sage One will soon emerge as a leader and gamechanger in this field.”

With VAT coming into effect in the UAE on 1 January 2018, Small & Medium Businesses with an annual turnover of AED375,000 and more will need help in navigating the new tax landscape. Companies will have to issue tax invoices and tax credit notes while keeping records of due tax, tax corrections, and recoverable tax – all in UAE dirhams.

As a renowned accounting software solutions provider, Sage has the know-how and experience to help businesses familiarise themselves with VAT and automate the majority of these processes. Moreover, Sage consultants can assist companies with the baseline VAT setup and train them to use the new accounting systems and retrieve records for compliance purposes.

For his part, Mansoor Sarwar, Director of Technical Services and Pre-sales at Sage, said: “It is only natural that small businesses are concerned about the financial and operational impact of VAT, since they are used to operating in a no-tax environment. The transition period in the run-up to the introduction of VAT in the UAE is the perfect time to invest in an accounting solution that streamlines the tax collection, record-keeping, and reporting processes. Sage One is one of the simplest and quickest cloud accounting product to implement in a matter of days and not months. Offering a detailed impact assessment, Sage One goes the extra mile in helping companies achieve full compliance.”

Sage serves a growing customer base of over 6,000 businesses in the Middle East through its network of more than 60 regional partners.