There are 1 Companies in Jordan
that provide Financial Accounting Services!

A pillar of the Jordanian economy, the ICT sector has been the center of attention for decades as efforts are continuously underway to capitalize on the country’s position as a major ICT player and solutions exporter. 

With a GDP contribution worth around 12 percent, the ICT sector has witnessed significant growth over the years. In 2015, IT revenues grew to more than USD 600 million, while the telecom sector’s total revenues reached more than USD 1.35 billion.

Why working with Jordan IT companies?

Jordanian IT companies are considered key regional players offering some of the most skilled professionals at the disposal of local and international markets.  According to the Oxford Business Group report in 2019, Jordanian IT companies provide digital services and solutions by implementing successfully the latest technologies due to an increasing and fast adaptable young professionals enrolled in the IT industry. 

What to pay attention to when working with Jordanian IT companies

Due to the low cost of IT professionals, Jordanian IT companies face challenges in financing and implementing high-tech solutions in the business sector. This leads to underdeveloped business culture and environment which may be a challenge for foreign clients when working with Jordanian IT companies. 

Additionally, another challenge for Jordanian IT companies is the tax burden which keeps the development and investment rate away from the technological boom, which was expected to start at the beginning of 2017. 

How reliable are Jordanian IT companies

Compared to the regional players, Jordanian IT companies have a balanced image in the global market. Due to the military and political instabilities, many foreign investors and clients rather prefer to work with companies from neighboring countries, where they can rely on relatively moderate stability. 

How does the Jordanian IT industry relate to the neighboring countries?

The progress registered by Jordan in developing the IT industry is impressive and has shown results by attracting a number of tech giants to open representatives and offices in the country. However, this was not enough to be competitive in the region, having as leaders the Emirates, Qatar, and Saudi Arabia was in front of the list. 

Despite rising regional competition and slower domestic economic growth and a tough regulatory environment, ICT remains one of the kingdom’s greatest strengths, and its ongoing expansion remains high on the list of government priorities. With a history of forward-thinking tech and telecom development, Jordan is well-positioned to continue capitalizing on its bright population. The sector’s long-term growth prospects, buoyed by private-sector ambitions and strong government leadership, should see its recovery continue in 2020 and beyond.

Financial accounting services are the backbone of sound financial management for businesses. These services encompass the recording, reporting, and analysis of financial transactions, ensuring accuracy and compliance with regulations.

IT companies have expanded their services to include financial accounting through specialized software solutions. Some well-known IT companies offering financial accounting services include Intuit (QuickBooks), Sage, and Xero. These companies provide accounting software and cloud-based platforms designed to streamline financial processes, but other smaller service providers are also a good option to take into consideration, as their price range may be lower and the quality of their services could be the same or even better.

IT companies offering financial accounting services are generally reliable. They provide robust software solutions that simplify financial record-keeping and reporting. However, the effectiveness of these services depends on the specific needs and complexities of the business. For more intricate accounting requirements, many businesses still seek the expertise of traditional accounting firms or certified public accountants (CPAs).

Financial accounting service providers utilize a range of tools and technologies, including accounting software such as QuickBooks, Sage 50, and Xero. They also rely on financial modeling and forecasting software, data analytics tools, and financial reporting platforms. Cloud-based accounting solutions have become increasingly popular for remote access and real-time financial insights.

Financial accounting is closely related to various financial and advisory services, including:

• Auditing

• Taxation Services

• Financial Consulting

• Bookkeeping

• Financial Reporting

Financial accounting focuses on routine financial record-keeping, reporting, and compliance with accounting standards. On the other hand,  audit services involve independent reviews of financial records to verify their accuracy and completeness. At the same time, due diligence services are comprehensive assessments conducted before business transactions to assess risks and opportunities. That's why you should always make a difference between these services and choose the right one for your business. 

While on this pages you can find financial accounting service providers, we strongly recommend visiting the Audit and Due Diligence dedicated pages where you can explore relevant vendors in case you need their services in addition or combined with the Financial accounting services. 

Selecting the best IT company for financial accounting services involves evaluating the software's features, ease of use, scalability, and integration capabilities with existing systems. Additionally, consider the provider's reputation, customer support, and the availability of industry-specific solutions.

Financial accounting providers are essential for various projects and business needs, including:

• Small Business Accounting: Managing financial records and payroll.

• Financial Reporting: Preparing financial statements for shareholders and regulators.

• Budgeting and Forecasting: Creating financial plans and projections.

• Tax Compliance: Ensuring accurate tax reporting and payments.

• Investor Relations: Providing transparent financial information to investors.

• Mergers and Acquisitions: Consolidating financial data during business transactions.

Of course, besides these projects and business needs, financial accounting can be used for other purposes as well. It depends on the particular business needs in general. 

Also, financial accounting services are critical for companies of all sizes and industries, including the one from the list below, but, of course not limited to them:

• Small and Medium-sized Enterprises (SMEs): Managing day-to-day finances efficiently.

• Corporations: Ensuring accurate financial reporting and compliance.

• Startups: Establishing sound financial practices from the outset.

• Nonprofit Organizations: Managing donations and grants transparently.

• Government Agencies: Maintaining accurate financial records and reporting.

As for the cost of financial accounting services, they can vary widely depending on the complexity of financial processes, the volume of transactions, and the chosen software or service provider. In the US for example, small business accounting software subscriptions can start at around $20 per month, while customized accounting solutions for larger businesses can range from several hundred to thousands of dollars per month. Costs in the UK and Australia follow a similar range, with variations based on specific business needs and software features. It's advisable to obtain quotes and assess the suitability of the chosen solution or service provider for your business's financial requirements.