NaqoodTerm Guide Updated Jan 24, 2026
Prepaid Expenses in UAE – Complete 2026 Guide for Businesses
Learn how prepaid expenses work in UAE accounting, including trade license and visa costs, corporate tax treatment, and VAT rules for businesses.
Dictionary
Accounting terms, explained in plain language.
Term Reports Updated Jan 17, 2026
Understanding Positive and Negative Amounts in Naqood
Learn why income can appear negative in accounting reports and how to read Profit & Loss, Balance Sheet, and Trial Balance correctly in Naqood.
Term FTA Updated Apr 13, 2025
FTA Entity Types in UAE
Learn about all FTA Entity Types in UAE and find out which one applies to your business when registering for Corporate Tax. Simple definitions, examples, and expert tips—powered by Naqood.
Term Reporting Updated Feb 9, 2025
Balance Sheet
A balance sheet provides a snapshot of a business's financial health, detailing assets, liabilities, and equity, ensuring compliance and transparency.
Term Accounting Updated Feb 9, 2025
Chart of Accounts
A Chart of Accounts (COA) is a categorized list of accounts essential for VAT compliance, and accurate reporting in the UAE.
Term Tax Updated Feb 9, 2025
Corporate Tax in the UAE
The UAE’s corporate tax, introduced in 2023, applies at 0% for income up to AED 375,000 and 9% above. Learn how it works and who it impacts.
Term Purchase Updated Feb 9, 2025
Fixed Asset
In the UAE, managing fixed assets ensures financial accuracy, VAT compliance, and better operational planning for long-term business success.
Term Reporting Updated Feb 9, 2025
Profit and Loss Statement (P&L)
A Profit and Loss Statement (P&L) reveals a businesses' revenues, expenses, and profits, aiding compliance, performance tracking, and decision-making.
Term Purchase Updated Feb 9, 2025
Receipt
Receipts are essential proof of purchase, aiding in returns, exchanges, warranties, and ensuring compliance with UAE consumer protection laws.
Term Reporting Updated Jan 25, 2025
Cash basis or accrual basis Accounting
Learn the difference between cash and accrual basis accounting, including their advantages, disadvantages, and suitability for your business needs.
Term UAE Updated Jan 25, 2025
Small Business Relief in the United Arab Emirates
Discover how Small Business Relief in the UAE exempts businesses with revenues ≤ AED 3 million from corporate tax. Learn the pros and cons before applying.
Term Sales Updated Nov 22, 2024
E-Invoicing in the UAE
E-Invoicing in the UAE, set to take effect in 2026, mandates digital invoicing to enhance VAT compliance, transparency, and operational efficiency.
Term Sales Updated Nov 22, 2024
Invoice
Invoices are formal records of transactions, essential for tax compliance and business transparency. Learn what UAE-compliant invoices must include.