Wafeq Accounting Software Setup in Dubai 

In this article, we’ll walk you through why Wafeq is worth considering in Dubai, step-by-step setup guidance tailored to UAE compliance (VAT and record keeping), common pitfalls to avoid, a quick configuration checklist, a summary table, and a practical FAQ. The goal is to make your Wafeq implementation fast, compliant, and useful for day-to-day accounting.

Wafeq is positioned as a regional cloud accounting solution with features targeted at UAE and KSA companies: VAT handling, e-invoicing readiness, payroll, multi-currency and Arabic/English interfaces — all useful for Dubai companies with local and cross-border operations. Its help resources and apps ecosystem also help accountants and small business owners get started quickly.

Sign up for Wafeq and create your organisation profile. Select United Arab Emirates as your business location to enable local default settings. Wafeq’s onboarding prompts are tailored by country to simplify taxes and formats.

Enter your full company name, trading name, licence number, and TRN. Displaying TRN on invoices is required for VAT-registered suppliers and helps the buyer claim input VAT where eligible.

Go to Tax or Settings → Tax Rates and add the UAE VAT rates you need (5% standard, 0% zero-rated, and exempt/out-of-scope options). Assign default VAT on sales and purchases, and tag inventory or services requiring special treatment. Wafeq’s VAT report tools let you extract the VAT return in the correct format.

Use a UAE-friendly chart of accounts: sales, cost of sales, bank, VAT control accounts, payroll liabilities, deferred revenue, etc. You can import chart templates or map your existing accounts to Wafeq’s structure to preserve continuity in reporting.

Customize invoice templates to include company logo, address, trade licence and TRN fields. If you are required to issue e-invoices or to comply with any upcoming local e-invoicing mandate, ensure document numbers and mandatory fields are captured.

Link your business bank accounts (where available) or import bank statements for reconciliation. Add opening balances for bank, receivables, payables and retained earnings so historic balances match your accounts. Regular bank reconciliation keeps VAT and cash positions accurate.

Import master data for customers, vendors, items and price lists. For each item or service, define the VAT treatment so transactional entries pick the correct tax automatically.

If you’ll run payroll in Wafeq, set up company payroll settings, additions/deductions, and employee profiles. Ensure end-of-service (gratuity) rules and local payroll obligations are reflected correctly.

Before full go-live, process one month of transactions, reconcile bank, check VAT reports, and generate management reports. Fix mapping issues and finalize templates—this reduces stress at first VAT filing or audit.

Train your accounting staff or service provider on the Wafeq interface, standard operating procedures, and backup/export routines. Keep exported copies of critical reports for long-term retention.

Wafeq offers integrations (bank feeds, payment gateways, app connectors) and over 30–40 reports — VAT returns, balance sheet, profit & loss, inventory, and payroll summaries — that keep Dubai businesses audit-ready and compliant. These reports also support corporate tax and investor-ready financials.