As a prominent boutique consultancy and accounting service provider, JASM Accounting LLC proudly serves as a professional advisory platform, dedicated to addressing the entire spectrum of the business lifecycle for our esteemed clients. Our comprehensive array of high-quality services encompasses innovative business solutions crucial at different stages of their business journey.
Why Virtual Accountants LLC as Your Backlog Accounting Partner?
What sets us apart from other accounting firms, especially in terms of backlog accounting and book cleaning, are the key aspects that we prioritize:
- Extensive expertise
- Customized solutions tailored to business requirements
- Uniquely crafted bespoke offerings
- Commitment to professionalism, expertise, and innovation
- Optimal results within a minimal time frame
- Implementation of technologically advanced solutions
How is Accounting Backlog is Completed?
JASM LLC recognizes the challenges faced by businesses, especially startups, in sustaining proper accounting books and reports over extended periods. This lapse can impede business progress, as effective growth relies on meticulous financial reporting. Following the implementation of VAT in the U.A.E., maintaining accurate accounting books has become a fundamental requirement for seamless business processes. JASM is committed to assisting clients in establishing precise, timely, and efficient accounting records from the business's inception. To facilitate this, clients are encouraged to provide essential supporting documents, including payment vouchers, sales invoices, payment invoices, receipt vouchers, cheques counterfoils, petty cash expenses, bank statements, and transfer copies. Through comprehensive consultations at our firm, incorporating all necessary details, documents, and information, we systematically update transactions in the accounting software with utmost reliability and professionalism. Regularly finalizing the books on a monthly and annual basis ensures the consistent maintenance of timely and accurate accounting records for our valued clients.
Important Reports Produced After Backlog Accounting
- Generating the Company's Balance Sheet, also known as the Statement of Final Position
- Creating the Profit and Loss Account, or Statement of Comprehensive Income
- Compiling Cash Flow Statements
- Generating Receivables Aging List
- Compiling Payables Aging List
- Preparing a Comparative Report on Clients' Sales Performance
- Conducting a comprehensive Financial Ratio Analysis
- Conducting a thorough Working Capital Analysis
Our team of skilled and dedicated accounting professionals is committed to efficiently addressing all the backlogs within your business. We strive to produce precise financial reports that effectively support you in managing the accounting aspects of your firm. By completing essential financial tasks promptly, we ensure our clients are free from any lingering backlogs, enabling them to move forward without hindrance.
Why Do Clients Require Backlog Accounting Service Provider?
Numerous factors drive the need for backlog accounting services among our esteemed clients, contributing to the effective facilitation of seamless business operations. A few of these reasons are outlined below:
- Significant resources and efforts are needed.
- Business owners often lack awareness of optimal approaches to address backlog issues.
- Companies may neglect the accuracy of their books of accounts due to a busy schedule.
- Inefficiency and a lack of expertise within the in-house accounting team may lead to challenges in maintaining the company's books of accounts.
- Accounting staff departing from the organization can leave accounts unfinished.
- Incorrect and inaccurate reconciliation of VAT may result in penalties.