Uncategorized Archives - https://go.lynchpintraining.com/category/uncategorized/ Wed, 06 Sep 2023 09:26:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://go.lynchpintraining.com/wp-content/uploads/2023/07/cropped-Untitled-design-5-32x32.jpg Uncategorized Archives - https://go.lynchpintraining.com/category/uncategorized/ 32 32 How to decide about Place of Supply of Goods? https://go.lynchpintraining.com/2023/07/06/how-to-decide-about-place-of-supply-of-goods/ https://go.lynchpintraining.com/2023/07/06/how-to-decide-about-place-of-supply-of-goods/#respond Thu, 06 Jul 2023 12:45:02 +0000 http://lynchpinconsulting.com/?p=7474 For goods, the basic rule is that if the goods are located in the UAE when supplied, then they are treated as supplied in the UAE. Similarly, if the goods are located outside the UAE when they are supplied, the place of supply is outside the UAE. The rules are, however, modified when the supply

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]]> For goods, the basic rule is that if the goods are located in the UAE when supplied, then they are treated as supplied in the UAE. Similarly, if the goods are located outside the UAE when they are supplied, the place of supply is outside the UAE.

The rules are, however, modified when the supply of goods involves transportation, or installation or assembly of the goods. The table below provides an overview of the special place of supply rules for goods.

Where Then the supply takes place
…the supply is of installed or assembled goods… …in the place where the assembly or installation of goods takes place.
…the supply involves export of goods from the UAE to a place outside the GCC Implementing States… …in the UAE.
…the supply involves export of goods from one GCC Implementing State to another GCC Implementing State to a recipient resident in that second Implementing State and the following conditions are met:

·        the recipient is not registered for VAT or liable to be registered for VAT in their State; and

·        the total value of exports by the supplier to the recipient’s Implementing State does not exceed the mandatory registration threshold in the State of the recipient…

 …in the supplier’s Implementing State.
Where Then the supply takes place
…the supply involves export of goods from one GCC Implementing State to another GCC Implementing State to a recipient resident in that second Implementing State and the following conditions are met:

·        the recipient is not registered for VAT or liable to be registered for VAT in their state; and

·        the total value of exports by the supplier to the recipient’s Implementing State exceeds the mandatory registration threshold in the State of the recipient…

 …in the recipient’s Implementing State.
…the supply involves export of goods from one GCC Implementing State to another GCC Implementing State to a recipient who is registered for VAT in the second Implementing State… …in the recipient’s Implementing State.
…the supply is of water or energy through a distribution system by a taxable person who is resident in the UAE to a taxable person resident in another GCC Implementing States whose main activity is the distribution of water or energy… …in the place where the recipient has their place of residence.
…the supply is of water or energy through a distribution system by a taxable person to a person who is not a taxable person… …in the place of actual consumption.

It should be noted that there is no special place of supply rule for goods imported into the UAE from outside the GCC Implementing States. Such imports will be subject to UAE VAT on importation.

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]]> https://go.lynchpintraining.com/2023/07/06/how-to-decide-about-place-of-supply-of-goods/feed/ 0 Why Proper Accounting for SME Business is the Need of Time? https://go.lynchpintraining.com/2023/07/06/why-proper-accounting-for-sme-business-is-the-need-of-time/ https://go.lynchpintraining.com/2023/07/06/why-proper-accounting-for-sme-business-is-the-need-of-time/#respond Thu, 06 Jul 2023 06:57:43 +0000 http://lynchpinconsulting.com/?p=7417 You might have heard that Numbers Don’t Lie. However if your numbers are not correct then such truth will do more harm than anything else. A small business owner puts on many hats including Marketing, Sales, Operations etc. However when it comes to accounting the owners mostly don’t focus on it being a technical area.

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]]> You might have heard that Numbers Don’t Lie. However if your numbers are not correct then such truth will do more harm than anything else. A small business owner puts on many hats including Marketing, Sales, Operations etc. However when it comes to accounting the owners mostly don’t focus on it being a technical area. In UAE, we see that most of the times one person in the company is in-charge of Administration, Accounting, HR and other non-core function. This approach often leads to wrong presentation of accounting numbers as the job is not handled by qualified accountants. Although many companies overcome this situation by outsourcing the accounting function.

VAT Accounting Requirements:

As VAT (Value Added Tax) will be implemented in UAE from 2018, the accounting records would be the only source to prove your VAT admissible transactions. And it is very important for all businesses to have a proper accounting system to record all Sales & Purchase related transaction. This would save you from the last minute rush due to VAT deadlines. An improper VAT Accounting record can cost you loss of VAT claim or penalties and fines for incorrect reporting. So better start planning now.

Get the True Financial Picture of Your Business:

Many small businesses focus only on cash inflow/outflow. While if you do not record all your expenses, incomes, payments, receipts as per the accounting principles, you may be getting a wrong picture of the vital business numbers. e.g. Sales not recorded on timely basis can misrepresent your Accounts Receivables which ultimately affects your cash budgets. So it is important that someone who knows the accounting principles and is appropriately qualified should be taking care of your accounting record keeping.

Get 24×7 Reporting of Your Financial Numbers:

With the increasing use of cloud based accounting software, all you business financial numbers are just a click away. If you use an accounting software and a qualified accountant enters in all the transactions, you can generate your Income Statement, Balance Sheet and Cash Flow Statement with a click of a button. However all this can only be possible if you are maintaining your accounting records properly.

Better Plan for Future:

Once you have maintained the proper and correct accounting records, you can then base your future planning on the historical trends in your income statement and balance sheet. This way you would avoid any surprises in your financial numbers in future periods.

Better Valuation of Your Business:

Whether you are planning to sell your business or not, it is always a good idea to periodically assess the net worth of your business. This way you can be certain that you are achieving the main objective of your business i.e. to maximize the business net worth.

To maintain your accounts properly, you have two options. Either you hire a full time accountant or you outsource the accounting function. If the transaction numbers are high and you can afford it, then the better option would be to have a full-time accountant. However if it doesn’t fit in your budget, you can go for outsourcing. The benefit of outsourcing is the you get free from all worries of having employment visa, health insurance, one month paid leave, sitting place and any other expenses/issues related to full time employees. One more important aspect is continuity of the services. You have no tension of a full-time employee leaving the company when you have outsourced the accounting function to a professional accounting service firm, you have peace of mind and services of qualified accountants at an affordable rate.

However, no matter whether you choose outsourcing or a full-time accountant, now is the high time to start maintaining your financial record with proper accounting and bookkeeping practices. Don’t wait the VAT worries to hound you and start early to align yourself with upcoming accounting requirements in UAE.

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]]> https://go.lynchpintraining.com/2023/07/06/why-proper-accounting-for-sme-business-is-the-need-of-time/feed/ 0 Hello world! https://go.lynchpintraining.com/2022/10/26/hello-world/ https://go.lynchpintraining.com/2022/10/26/hello-world/#comments Wed, 26 Oct 2022 05:34:40 +0000 https://go.lynchpintraining.com/?p=1 Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

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]]> Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

The post Hello world! appeared first on .

]]> https://go.lynchpintraining.com/2022/10/26/hello-world/feed/ 1 Narrow Your Focus to Prevent Overanalysis https://go.lynchpintraining.com/2018/04/02/narrow-your-focus-to-prevent-overanalysis-2/ Mon, 02 Apr 2018 12:48:09 +0000 http://demo-import/?p=2202 Bring to the table win-win survival strategies to ensure proactive domination.

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]]>

Narrow Your Focus to Prevent Overanalysis

  • April 2, 2018
  • Posted by: user
  • Category: Uncategorized
No Comments

The new wordpress theme called Consulting WP has been lauded by critics for its presentation. The theme is made by Style Mix Themes, who have been key players in the theme industry for a long time. People were excited to see what they would come up with next; their specialty has always been designing industry specific themes. This time they have focused on the consultation industry and have hit a home run.

There are many great things within the theme which are the cause of its popularity. The biggest factor is the appearance of the theme; it disrupts theme design clichés without being unprofessional. The different possible color combinations are also being appreciated by many companies. The theme continues to rise in popularity and many other companies have expressed an interest in deploying it on their new websites. The creators of the theme are happy with the response and have vowed to create further themes exploring the same concepts

  • Growth through innovation/creativity:
    Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.

how can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

contacts

Looking for a First-Class Business Plan Consultant?

get a quote

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]]> A Fruitful Retirement: Social Security Benefit https://go.lynchpintraining.com/2018/04/02/a-fruitful-retirement-social-security-benefit/ Mon, 02 Apr 2018 12:47:09 +0000 http://demo-import/?p=2199 At the end of the day, going forward, a new normal that has evolved from generation.

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]]>

A Fruitful Retirement: Social Security Benefit

  • April 2, 2018
  • Posted by: user
  • Category: Uncategorized
No Comments

The new wordpress theme called Consulting WP has been lauded by critics for its presentation. The theme is made by Style Mix Themes, who have been key players in the theme industry for a long time. People were excited to see what they would come up with next; their specialty has always been designing industry specific themes. This time they have focused on the consultation industry and have hit a home run.

There are many great things within the theme which are the cause of its popularity. The biggest factor is the appearance of the theme; it disrupts theme design clichés without being unprofessional. The different possible color combinations are also being appreciated by many companies. The theme continues to rise in popularity and many other companies have expressed an interest in deploying it on their new websites. The creators of the theme are happy with the response and have vowed to create further themes exploring the same concepts

  • Growth through innovation/creativity:
    Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.

how can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

contacts

Looking for a First-Class Business Plan Consultant?

get a quote

The post A Fruitful Retirement: Social Security Benefit appeared first on .

]]> 4 Steps To Consider Before You Start https://go.lynchpintraining.com/2018/04/02/4-steps-to-consider-before-you-start/ Mon, 02 Apr 2018 12:46:20 +0000 http://demo-import/?p=2196 User generated content in real-time will have multiple touchpoints for offshoring.

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]]>

4 Steps To Consider Before You Start

  • April 2, 2018
  • Posted by: user
  • Category: Uncategorized
No Comments

The new wordpress theme called Consulting WP has been lauded by critics for its presentation. The theme is made by Style Mix Themes, who have been key players in the theme industry for a long time. People were excited to see what they would come up with next; their specialty has always been designing industry specific themes. This time they have focused on the consultation industry and have hit a home run.

There are many great things within the theme which are the cause of its popularity. The biggest factor is the appearance of the theme; it disrupts theme design clichés without being unprofessional. The different possible color combinations are also being appreciated by many companies. The theme continues to rise in popularity and many other companies have expressed an interest in deploying it on their new websites. The creators of the theme are happy with the response and have vowed to create further themes exploring the same concepts

  • Growth through innovation/creativity:
    Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.

how can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

contacts

Looking for a First-Class Business Plan Consultant?

get a quote

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]]> 8 Tips for Building a Bankable Business https://go.lynchpintraining.com/2018/04/02/8-tips-for-building-a-bankable-business/ Mon, 02 Apr 2018 12:44:27 +0000 http://demo-import/?p=2194 Capitalize on low hanging fruit to identify a ballpark value added activity to beta test.

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]]>

8 Tips for Building a Bankable Business

  • April 2, 2018
  • Posted by: user
  • Category: Uncategorized
No Comments

The new wordpress theme called Consulting WP has been lauded by critics for its presentation. The theme is made by Style Mix Themes, who have been key players in the theme industry for a long time. People were excited to see what they would come up with next; their specialty has always been designing industry specific themes. This time they have focused on the consultation industry and have hit a home run.

There are many great things within the theme which are the cause of its popularity. The biggest factor is the appearance of the theme; it disrupts theme design clichés without being unprofessional. The different possible color combinations are also being appreciated by many companies. The theme continues to rise in popularity and many other companies have expressed an interest in deploying it on their new websites. The creators of the theme are happy with the response and have vowed to create further themes exploring the same concepts

  • Growth through innovation/creativity:
    Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.

how can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

contacts

Looking for a First-Class Business Plan Consultant?

get a quote

The post 8 Tips for Building a Bankable Business appeared first on .

]]> Harvest great ideas from your company’s best assets https://go.lynchpintraining.com/2015/12/25/harvest-great-ideas-from-your-companys-best-assets/ https://go.lynchpintraining.com/2015/12/25/harvest-great-ideas-from-your-companys-best-assets/#respond Fri, 25 Dec 2015 10:25:45 +0000 http://consulting.loc/?p=135 In particular, the initial state of the company’s sales and operations planning capabilities limited their ability to account for demand variability or raw material lead times in production and distribution. Improve sales and operations and production planning.

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]]>

Harvest great ideas from your company’s best assets

  • December 25, 2015
  • Posted by: user
  • Category: Uncategorized
No Comments

Many businesses, large and small, have a huge source of great ideas that can help them improve, innovate, and grow, and yet so many of these companies never think of using this amazing corporate asset. What is this highly valuable asset? Its own people. Says Morgan Fraud, the author of The Thinking Corporation, “Given that we are all capable of contributing new ideas, the question becomes how do you successfully generate, capture, process and implement ideas?” Becoming an organization capable of answering this question can benefit in a number of ways:

  • Growth through innovation/creativity:
    Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.

how can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

contacts

Looking for a First-Class Business Plan Consultant?

get a quote

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]]> https://go.lynchpintraining.com/2015/12/25/harvest-great-ideas-from-your-companys-best-assets/feed/ 0 Three Social Media Hacks for the Busy Entrepreneur https://go.lynchpintraining.com/2015/12/25/three-social-media-hacks-for-the-busy-entrepreneur/ https://go.lynchpintraining.com/2015/12/25/three-social-media-hacks-for-the-busy-entrepreneur/#respond Fri, 25 Dec 2015 10:25:29 +0000 http://consulting.loc/?p=133 The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.

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]]>

Three Social Media Hacks for the Busy Entrepreneur

  • December 25, 2015
  • Posted by: user
  • Category: Uncategorized
No Comments

The new wordpress theme called Consulting WP has been lauded by critics for its presentation. The theme is made by Style Mix Themes, who have been key players in the theme industry for a long time. People were excited to see what they would come up with next; their specialty has always been designing industry specific themes. This time they have focused on the consultation industry and have hit a home run.

There are many great things within the theme which are the cause of its popularity. The biggest factor is the appearance of the theme; it disrupts theme design clichés without being unprofessional. The different possible color combinations are also being appreciated by many companies. The theme continues to rise in popularity and many other companies have expressed an interest in deploying it on their new websites. The creators of the theme are happy with the response and have vowed to create further themes exploring the same concepts

  • Growth through innovation/creativity:
    Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.

how can we help you?

Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

contacts

Looking for a First-Class Business Plan Consultant?

get a quote

The post Three Social Media Hacks for the Busy Entrepreneur appeared first on .

]]> https://go.lynchpintraining.com/2015/12/25/three-social-media-hacks-for-the-busy-entrepreneur/feed/ 0