Backlog accounting is the process of maintaining a proper record of periodic transactions for years. The basic purpose is to ensure that all transactions are carried out with an eye to assessing the financial position of the company. Delay in record keeping is a common issue that is faced by many SMEs, especially new start-ups where bookkeeping is delayed for months and years due to various reasons. Most companies make the mistake of delaying the maintenance process either because of a lack of resources or time. The effects of delaying the maintenance process only starts to show after a year or two when the company begins to face a financial crisis due to a lack of proper records. Moreover, commercial companies are bound to maintain proper books of the account and this is exactly where backlog accounting inDubaicome in handy.
There are two ways of handling the proper maintenance of the financial transactions i.e., either hire in-house staff or outsource it to a professional accounting company that offers backlog accounting services such as Al-Saqr. Outsourcing the backlog accounting services in Dubai enables the companies to enjoy the help of professionals. With the help of a professional, it becomes easy to get the job done on time.
Our professional accountants ensure accuracy in maintaining the financial records. Even minor faults in the maintenance of financial records could lead to grave discrepancies in data therefore we ensure that all the data is maintained accurately.
With an experience of decades, our accountants have a great sense to detect financial irregularities and alert the management in time to save them from frauds.
Outsourcing the backlog job to a third party is more of an economical solution. As compared to hiring an in-house team and facilitating them with salary, space, and time, outsourcing the job to a third party saves the company from troubles other than salary.
Hiring professional help ensures that the company is working as per the regulations set by authorities. It saves the organization from facing penalties resulting from non-compliance.
Having the assistance of a professional setup to look after financial records works extremely well for SMEs and start-ups that have limited knowledge of the financial system.
