Suppliers in Their Own Currency
Bills are recorded in USD, EUR or INR and converted to AED automatically. Exchange gains and losses post when you pay.
Building materials trading
Accounting for Building Materials Traders
You import tiles, sanitaryware and fittings from India, China and Italy, and sell on credit to contractors across the UAE.
Sound familiar?
What Gets in the Way Today
We hear the same problems from building materials traders across the UAE.
- Imports in USD, EUR and INR are converted by hand, and exchange gains and losses are never booked.
- Contractors pay late, often by post-dated cheque, and there is no clear list of what is overdue.
- Some contractors keep buying on credit long after passing their agreed limit.
- Import VAT is handled differently by each person in the accounts team.
- Invoices to contractors must go out as e-invoices once your deadline arrives.
How TaxMate solves it
Built Around How You Work
One Method for Import VAT
Import VAT is recorded against each customs declaration, so it lands in the right box of your VAT return.
Credit Limits That Warn You
Each contractor has payment terms and a credit limit. TaxMate warns before a sale takes them over it.
Cheques Followed to the Bank
Post-dated cheques are recorded with their dates and matched when they clear in bank reconciliation.
Overdue List Every Week
The receivables ageing report shows who owes what, and statements of account are emailed to contractors.
E-Invoicing Built In
Sales invoices go out in the PINT AE format through an accredited provider, with the status of each one shown.
What You Get
- Foreign-currency purchases and exchange differences recorded correctly
- A weekly view of overdue amounts by contractor
- Credit exposure controlled before the sale, not after
- One consistent method for import VAT
- E-invoicing ready before your deadline
Features used: Multi-currency purchasing · Exchange gain and loss posting · Import VAT · Credit limits · Payment terms · Cheque tracking · Receivables ageing · Customer statements · E-invoicing
FAQ
Common Questions
Does TaxMate handle post-dated cheques?
Yes. Record the cheque with its date when you receive it, and it is matched when it clears in your bank reconciliation.
Can I buy in foreign currencies and sell in AED?
Yes. Each supplier keeps its own currency, your sales stay in AED, and every report and VAT return is in AED.
Can I see margin by product line?
Yes. Items are grouped, for example tiles, sanitaryware and fittings, and the sales and gross profit reports run by group.
When do building materials traders need to start e-invoicing?
It depends on revenue. Under AED 50 million, appoint an accredited provider by 31 Mar 2027 and go live on 1 Jul 2027. With AED 50 million or more, the appointment date was 30 Oct 2026 and go-live is 1 Jan 2027. Check your dates.
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Auto spare parts tradingThousands of part numbers, three locations, landed cost and garages on credit.Free zone trading and re-exportThe right VAT on exports and mainland sales, monthly bank reconciliation and the free zone Corporate Tax test.Freight forwarding and logisticsProfit per shipment, pass-through charges kept apart and the right VAT on every service.
See all industriesBe E-Invoicing Ready Before Your Deadline, Not on It
See TaxMate with your own invoices in a 30-minute demo.