Office 938, Business Tower, burjuman, Dubai, UAE
Accounting & Bookkeeping /

Backlog Accounting

A backlog is a buildup of work that needs to be completed. Backlog accounting means recording accounting transaction and preparing books of accounts in compliance of Generally Accepted Accounting Principles (GAAP) of previous period or back periods.

Backlog accounting in is the process of recording periodic transactions from the inception of the business and ensures that all the transactions are captured to portray the true position of a company. Companies may avoid recording their accounting transaction in the initial stage, they prefer basic maintenance of books of accounts manually in a note book or i9n an excel , it may result in unexpected financial crisis. Maintain and Updating backlog accounts define the financial position of a company, paving way to achieve profit in the future. Benefits of updating backlog accounting are:-

Backlog

Accounting

  • Keep track of each and every transaction without leaving a gap, maintain a permanent record which allows businessmen to gather all the relative information.
  • Once the accounts are updated, investors can draw out necessary reports based on the progress of business and its working. Business analysis ensures the possibility of future opportunities.
  • When all the transactions are recorded in software, it’s easy to get back and search for details of old transactions.
  • Backlog accounting services in UAE provides management with the insights on how to manage the cash flow while maintaining the record of income and expense. This helps to determine the company’s financial position and arrange funds necessarily.
  • Proper maintenance of records will allow easy auditing and the whole procedure will be simplified. Auditors can compare with the previous data and drive a trend line for your business.
  • The periodic reports allow entrepreneurs to work on strategic decision making and make sure that the business runs smoothly.
  • While updating backlog accounts, compliance with legal requirements can be checked and it’s easy to make necessary changes.

We provide all types of backlog accounting services. Our team of a well experienced experts and fully equipped with the knowledge and technical expertise to assist our clients with minimal cost.

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Office 938, Business Tower, burjuman, Dubai, UAE

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