Backlog Accounting

We understand the importance of maintaining up-to-date financial records for making informed business decisions and complying with regulatory requirements. We are here to help you get back on track.

Get a Free Consultation

Backlog Accounting

We understand the importance of maintaining up-to-date financial records for making informed business decisions and complying with regulatory requirements. We are here to help you get back on track.

Get a Free Consultation

Backlog Accounting Services in the UAE

Maintaining accurate accounting records is essential for any business right from its inception. However, small startups and SMEs may neglect certain financial transactions due to the absence of a proper accounting system. The UAE is a prime location for startups and SMEs, offering global growth potential. To operate in compliance with UAE commercial laws, maintaining accurate financial records is essential.

Streamline Your Finances

What is a Backlog Account?

In the early stages of business setup, essential financial records are maintained in basic tools such as Excel spreadsheets or rough files. Whether you’re an investor, an entrepreneur, a startup founder, or even an established business, one fundamental principle must be kept in mind: diligent and up-to-date accounting is the foundation of your path to business success in the UAE. Failing to prioritize this critical aspect can introduce uncertainty into the future of your business.

Backlog accounts, within the context of accounting in the UAE, refer to those financial records and transactions that have not yet been completed or resolved within a given calendar year. This process ensures that all financial transactions are accurately captured, providing a comprehensive and authentic representation of a company’s true financial standing.

Sheila Razdan

Simply Spartans Cricket Club

We are really impressed with tax and accounting services from Taxfix, They have helped us to fix up a year of mess with our accounting data..They took our disaster and fixed it!

Aditi Motwani

Glamour Femi Jewellery Trading

I used to spend countless hours on our Quickbooks bookkeeping and tax filing work, I am free now from this tedious work

Mira S.

Amira Jewellery & Piercings FZ LLC

Dealing with taxes and accounting is my least favorite part of being a business owner. Taxfix team takes all that hassle completely off my plate, so I can fully focus on making money. I'm really happy to recommend them as an excellent choice for your accounting and tax needs!

Alana Prinsloo

Casa Verde Real Estate LLC

I would suggest that if you want to outsource your accounting and tax related work, go with Taxfix, you will be able to save ample time

Philip Hand

West One Contracting L.L.C

Monthly accounting and tax plan saves me money compared to hiring a local accountant and also saves me time since I don't have to manage anyone! As a business owner, Taxfix provides me with more time and less stress by taking care of the accounting and tax work..

Mohamed Ajwath

Reem Al Khaleej Rent A Car L.L.C

Taxfix has been a lifesaver. At first, I try to do the bookkeeping on my own with the help of other employees. It did not seem to work out for me, Now I am on monthly package with tax filing. Great value for money..

Viswanathan Nair

Infinity Water FZ LLE

As a new business/small business, we aren't necessarily at the point where we need a fulltime tax and accounting expert in house. Nor can we afford this expense. Taxfix is the perfect service to fulfill our need. I think we'll keep this service even as we grow, in lieu of a fulltime accountant.

Mohamad Bachier Khoja

Usha Food Trading L.L.C

Accurate and timely financial reporting by the team has greatly simplified my decision-making process..I can see where my money is going. I get full transparency into my books!

Maitha Jalal

Morocon Taste Restaurant

Taxfix company is great! They helped me setup a much needed accounting and VAT process. They also integrated us completely into the cloud and have essentially made our process 100% cloud based! Thanks..

John Besterwitch

Meraki Global Solutions FZ LLC

Taxfix's accounting services are top-notch. Their expertise and professionalism have improved our financial accuracy and efficiency.

Anastasiya Sytnikova

Flawlesscent FZ LLC

I was very hesitant about spending money for someone to do my tax and accounts especially a remote company that I wasn't able to visit in person. Now I'm really happy I went with Taxfix.

Mohamed Qarqash

Kingly Homes Real Estate Brokers

Taxfix is a seamless, efficient solution for small business owners to manage their accounting and VAT virtually without any interruption or involvement. They cross-check expenses and manage the accounts while you can focus on the business itself.

Hala Saad

Royal Rich Interior Design Works LLC

As a business owner, Taxfix is giving me more time and less stress by handling accounting and tax work

Anis Raja

Yamal Properties

I highly recommend Taxfix for accounting and tax services.

Abdi Warsame Mohamed

Al Rawabi Rent A Car L.L.C

Taxfix provided comprehensive support in reviewing and supervising my accounting processes. Their team's knowledge and guidance have brought transparency and efficiency to my financial management.

Clearing Backlog Accounting with Taxfix's Expert Solutions

Expertise in UAE Regulations

Taxfix specializes in backlog accounting services tailored for the UAE. We have a deep understanding of local financial regulations, ensuring compliance with UAE laws and standards.

Experienced Team

Our team consists of highly qualified professionals with extensive experience in backlog accounting. We excel at sorting out financial records, even in complex situations.

Timely Resolution

Taxfix's services focus on clearing accounting backlogs efficiently. We help you catch up on overdue financial tasks, reducing stress and potential penalties.

Cost-Effective Approach

Taxfix's backlog accounting services provide a cost-effective alternative to hiring and training in-house staff for temporary work, saving you time and resources.

Customized Solutions

We offer tailored backlog accounting solutions to meet the specific needs of your business, ensuring that the backlog is addressed comprehensively.

Tailored Reporting and Analysis

Taxfix goes the extra mile by providing tailored reporting and in-depth analysis as part of our backlog accounting services. We don't just clear the backlog; we leverage the data collected to generate customized financial reports and insights.

Our Backlog Accounting Process

Step-1

Consultation with Management

We begin by consulting with your management team to understand your business operations, goals, and unique requirements. We then assess the extent, nature, and reasons behind your accounting backlog, enabling us to develop a tailored resolution roadmap.

Step-2

Resource Allocation

We ensure skilled accountants and the latest software are deployed for clients, considering additions to staff, outsourcing, or software upgrades as required.

Step-3

Document Gathering

We meticulously collect essential financial documents from clients, such as vouchers, invoices, and bank statements, to accurately update and record every backlog transaction.

Step-4

Data Entry and Reconciliation

Using client-provided documents, we accurately record and classify transactions, reconcile bank statements, and verify accounts receivable and payable to ensure data precision.

Step-5

Report Generation

After addressing the backlog transactions, our expert team delivers a suite of detailed financial reports. These encompass the Balance Sheet, Profit and Loss Statement, and Cash Flow Statement, along with aging lists for Accounts Receivable and Payable. Additionally, we provide Comparative Sales and Expense Reports, as well as analyses on Financial Ratios, Working Capital, and Breakeven points.

Step-6

Report Review

After preparing the reports, we collaborate with your management team for a detailed review, pinpointing performance strengths and areas for strategic growth enhancement.

Ready to Streamline Your Finances?

Get in Touch with Us Today for Expert Backlog Accounting Services

Benefits of Backlog Accounting Services in the UAE

Enhanced Cash Flow Management

Updating backlog accounts offers management valuable insights into how the company historically managed its finances. Learning from past practices equips them to make more informed financial decisions in the current scenario.

Streamlined Audit Process

Having access to previous financial data facilitates a smoother auditing process. Auditors can easily compare this data with the company's current records, enabling them to identify trends and patterns, ultimately enhancing organizational performance.

Time Efficiency

Without the burden of recreating historical financial records, management can allocate their time and resources more effectively, avoiding delays in critical business development processes.

Informed Real-Time Decision-Making

By comparing historical data with current information, management can pinpoint operational inefficiencies and make data-driven decisions to improve the company's performance. Comprehensive reports derived from updated accounts guide the organization in making tactical choices that benefit its growth. Whether there's a substantial cash balance for investment or a need for short-term financing to ensure smooth operations, informed decisions become a reality.

Strategic Planning for the Future

Analyzing past data empowers upper management to devise a comprehensive plan of action for the company's future. This plan typically outlines the company's mission, vision, objectives, and achievable goals for upcoming quarters.

Effortless Data Retrieval

Up-to-date backlog accounts simplify data retrieval for management. Whether it's tracking trends or conducting customer preference research, having organized financial records readily available proves invaluable.

Preventing Data Duplication

Small-scale industries may inadvertently miss recording certain transactional data initially. However, the need for this data may arise later. When updating records, any duplicate entries can be promptly identified and rectified.

Transparency in Fund Availability

Maintaining records from all quarters provides a clear picture of the company's financial position and highlights areas that require focused attention. Incomplete records can raise numerous questions for management. Thorough record-keeping is instrumental in shaping the company's future. Even if you haven't maintained records from day one, starting now is advisable. It not only aids in building a robust future but also reveals opportunities to reduce expenses and maintain financial health, making your business more appealing to potential investors.

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