UAE Accounting & Tax Glossary
Turn transaction records into reconciled books and a reporting pack that helps you see cash, outstanding invoices and the costs driving your business.
Plain-language finance terms for UAE business owners.
Accounts receivable
Amounts customers owe the business for invoiced goods or services.
Accounts payable
Amounts the business owes suppliers or vendors.
Bank reconciliation
Matching accounting records to bank transactions and explaining differences.
Input VAT
VAT incurred on purchases/expenses that may be recoverable subject to the VAT rules.
Output VAT
VAT charged on taxable sales where applicable.
Taxable income
The amount on which Corporate Tax is calculated after applying the relevant tax rules and adjustments.
Trial balance
A listing of ledger account balances used as a base for financial review and reporting.
Accrual
Recording income or expense in the period it relates to even if cash has not yet moved.
Prepayment
A payment recorded as an asset until the related service or benefit is consumed.
WPS
The UAE Wage Protection System used for salary payment/compliance processes where applicable.
ICV
In-Country Value programme terminology used in supplier/certification contexts in the UAE.
eInvoice
Structured invoice data exchanged electronically under the UAE eInvoicing framework; a PDF or scan by itself is not the structured eInvoice.
General guidance · Editorial update: 10 September 2026. This date does not indicate professional approval. Sources, review and corrections