Updating Backlog Accounts

If you've recently started a business in the UAE, you should be aware that accounting services are critical to the company's success, and you must keep track of backlog accounts on a regular basis.

Businesses in the UAE are required by law to keep accurate accounting records for a term of five years. The UAE has established itself as a golden base for many Small-to-Medium-Enterprises and start-ups, assisting them in gaining worldwide recognition. As a result, it has become mandatory for all firms to maintain their backlog accounts in order to keep track of the company's financial flow.

What exactly are backlog accounts?

Backlog accounts are those that have not yet been completed or cleared for the fiscal year. With proper management of the company’s backlog, you can ensure that customer demands are met.

It is typical for companies to forget to update their income or expenses which can cause complications later. It is recommended that you outsource these services because it will save you time, money, and stress. Reyson Badger is one of the most well-known outsourced service organisations in Dubai and the UAE, providing clients with first-class accounting and bookkeeping services.

Benefits of Updating Backlog accounts in UAE

• Complies with FTA's mandatory requirements
• Identifies and evaluates the company’s performance over the previous years.
• Determine the current trend of the business
• Identify past actions so that you can concentrate on the future and make more profitable investments.
• Ensures improved cash flow management
• Simplifying audit process
• Ease of Making Real-Time Decisions
• Future Planning
• Ease in retrieving data
• Transparency of funds available
• Assists you to cut down on your expenses
• Aids in the maintenance of your company's financial health
• Aids in attracting investors in order to maximize your company's potential.

It is clear the proper maintenance of your income and expense account with Reyson Bader is not a waste of time but a habit that can help you grow.

Call us today for a free consultation…..!!!!