Backlog Accounting
Services in Dubai
Partner with ADAM Global to keep books of accounts updated and accurate!
Backlog Accounting Services in Dubai – UAE
Effective business management is essential for good financial standing. Without adequate bookkeeping, startups especially SMEs would not have been able to operate in the United Arab Emirates. Any business must maintain the book of accounts from the date of the company’s incorporation. When it comes to start-ups and SMEs, backlog accounting services in Dubai are crucial because UAE commercial law mandates the keeping of accurate records. The UAE’s evolving legal framework makes it more difficult to maintain a book of accounts using the traditional method of storing information in books or Excel sheets. Take the lead and concentrate on updating accounts that are behind schedule.
Complete backlog accounting services are offered by ADAM Global in the United Arab Emirates. We assist our clients with preparing their books of accounts from the time of their incorporation to the present. All of the supporting documentation needed to create the book of accounts must be provided by the clients.
What is Backlog Accounting Services?
Backlog accounting, which guarantees that all transactions are recorded to accurately depict a company’s situation, is the practice of periodically recording transactions from the beginning of the business in Dubai.
Financial Reports Produced By ADAM Global
Following your employment of our services, the required paperwork will be completed by our knowledgeable team of accountants in Dubai and updated in the accounting software of the business.
The following financial reports are produced by us:
- Balance sheet
- Income statement
- Cash flow statement
- Accounts receivable
- Accounts payable
- Sales performance report
- Analysis of financial ratio
- Analysis of working capital
- Break-even analysis
Benefits of Backlog Accounting Services in UAE Key Benefits
In the modern era, most companies are aware of the accuracy of maintaining their books of accounts. Some of the benefits of updating backlog accounts are:
- Complete transaction tracking: Maintains a permanent record of all transactions, enabling businessmen to gather all relevant information.
- Business analysis: Updated accounts allow investors to draw necessary reports on business progress, ensuring future opportunities.
- Time-saving: Software-based records allow easy access to old transaction details.
- Cash-flow management: Provides insights on managing cash flow while maintaining income and expense records.
- Quick audit procedure: Proper record maintenance simplifies the auditing process, allowing comparison with previous data.
- Better decision-making: Periodic reports aid in strategic decision-making and smooth business operations.
- Legal compliance: Compliance with legal requirements is checked during backlog account updates.
Methods Used in Backlog Accounting Services in Dubai
- Talk with management : We examine the type and scale of your company before starting the backlog accounting. Recognize the management's expectations and follow them.
- Document collection : We gather from clients all the paperwork needed to update accounts that are behind schedule. This paperwork includes bank statements, payment slips, vouchers, bills, transaction documents, checks, and other relevant inputs.
- Account transactions : Update accounts in accordance with client explanations and supporting documentation.
- Report creation : Following the accounting transaction, our knowledgeable staff works on the following reports: cash flow statement, balance sheet, income statement, accounts payable, accounts receivable, sales performance report, financial ratio analysis, working capital analysis, and break-even analysis.
- Report discussion : Lastly, the management and the produced documents are analyzed to showcase the business performance and pinpoint areas that the organization may invest in or improve.
Importance of Backlog Accounting Services In UAE
- Better decision-making information to the management
- Compare with the business revenue and market cost estimations
- Calculate and reduce overhead cost by increasing the net profitability.
- Real-time data on the company’s financial position
- Make sure the business comply with laws and regulations.
Avoid Unanticipated Disaster
The majority of businesses may choose to forego basic upkeep over recording their income or expenses in the beginning, which could lead to an unanticipated financial disaster. The small mistakes in the beginning can lead to crisis while maintaining and updating backlog accounts helps a business clarify its financial situation and set itself up for future profitability. When things are systematically accurate, clear and consistent the operations become smoother.
ADAM Global's Backlog Accounting Services in Dubai
- Updates backlog accounts from incorporation year.
- Ensures accounts are closed appropriately, complying with statutory requirements.
- Collects necessary documents like receipt voucher, payment slip, invoices, petty cash expenses, bank statement.
- Implements latest accounting software to keep books of accounts updated.
- Helps manage cash flow and increase productivity.
- Attracts entrepreneurs with a variety of accounting and auditing services.
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