Intellect Chartered Accountants is a leading accounting and auditing firm that provides backlog accounts services. Customers who do not have proper financial data entries in their books sometimes need to get clarity about their information. With precise accounting services, Intellect Chartered Accountants and their team give exceptional services for our customers to line up the backlog account, therefore, maintaining an associate correct check on your company’s financial flow.
We keep the client’s data as per the real-time financial information, including the books of accounts from the day of the company’s formation. Analyzing and reviewing all the supporting documents of your accounts, we are prepared and end the books of accounts periodically to avoid even small mistakes.
Backlog Accounts Services:
If you’ve started a business in UAE, you know that accounting services play a significant role in the progress of the organization and you have to update the accounts frequently (even the backlog). The commercial law of the UAE makes it obligatory for businesses to take care of correct records of accounting for 5 years. The UAE has become a golden base for SMEs and start-ups and helps any establishment to induce international exposure. It becomes obligatory for all businesses to update their backlog accounts so it will be easy to keep a check on the financial flow of the company.
What are Backlog Accounts?
Backlog Accounts are accounts that stay unrealized or unprocessed for the financial year.
Commonly, almost all corporations forget to update their financial gain or expenses which can lead them to difficulty. It’s advisable to outsource such services making them useful for you because they will prevent hassles and inefficiency later.
Intellect Chartered Accountants is one of the leading accounting outsourcing services in Dubai, UAE that provides category one accounting services to clients to their satisfaction.
There are numerous reasons for backlogs in any business –
- The owner was ignorant or unaware to take care of the accounts
- Negligence of the owner thanks to the busy schedule attempting to grow their business
- Owners neglect the accounts as unimportant thinking they’re just for compliance functions
- The inefficiency of the in-house accounts workers to manage the accounts
- Staff resignation feat the accounts are undone
- Wrong entry of VAT leads to a penalty
What do Intellect Chartered Accountants do to resolve the Backlog issues?
Intellect Chartered Accountants takes the subsequent measures to tackle the backlog issues: –
- Intellect Chartered Accountants specialists create financial data for each year separately, making any company realize its growth standards
- Our team updates the upcoming accounting reports by the justice law of the Emirates every year. These reports are obligatory for any business organization within the UAE
- Debtor aging report
- Creditor aging report
- Bank reconciliation statement
- General ledger
- Fixed Assets Register
- Salary Schedule
- Balance sheet (statement of financial position)
- Gain and loss account (statement of complete revenue)
- Cash flow statements
- Comparative report on sales performance
- Comparative report on expenses
- Financial quantitative relation analysis
- Working capital analysis
- Breakeven purpose analysis/margin of safety, etc
After closing of Backlog Accounts, ICA prepares the subsequent details additionally every year:
• Compilation of financial Reports
• Documents for Annual/ Submission to Government
• Corporate Tax Computation and connected tax schedules
• Form & Appendixes to withstand the authority
NOTE: Don’t forget that everyone, above stated documents are obligatory for the Audit.
Benefits for Backlog Accounts:
Right from higher-income management to time-saving, transparency of funds, etc., backlog accounts in Dubai can give insights relating to the right management of funds, correct auditing, information retrieval, future growth expectations, etc.
The reports are generated easily for the management of any company to check the performance and to foresee the long-term the business goals. Mentioned below are a number of the key advantages of outsourcing backlog accounts services in Dubai.
- Satisfies the obligatory necessities of the FTA
- Recognizes and estimates the achievements of the business for the past years
- Identify the vogue of the business
- Identify the past actions to target the longer term with a lot of profitable investment
- Ensures higher-income Management
- Easy Audit method
- Ease in creating period choices
- Plan for the longer term
- Ease in information Retrieving
- Transparency of Funds accessible
- Helps prevent your expense
- Helps maintain higher financial health for your company
- Helps engage investors to grease your business potential to its heights
Why choose Intellect Chartered Accountants?
Intellect Chartered Accountants provides error-free backlog services by creating a rightful approach alongside a smooth and transparent process. Our team is capable and exceptional in delivering the outcome in the best possible way.
Our practiced professionals from accounting and auditing backgrounds facilitate the clients to ensure that their accounts are up to mark.
The company will eventually be provided with up-to-date financial statements and records in the software.