HR & Backlog Accounting Services

Backlog accounting services

Often, companies, especially start-ups and SMEs (Smaller & Medium Enterprises), neglect proper bookkeeping and financial reporting for several years. However, UAE regulations under the Commercial Company Law mandate maintaining accurate books of account. Consequently, after a year or two, these SMEs recognize the importance of maintaining proper financial records and seek accounting firms to assist with bookkeeping.

At MAK, we support clients in preparing their books of account from the company’s incorporation date. To do so, we require the necessary supporting documents, including sales invoices, purchase invoices, payment vouchers, receipt vouchers, petty cash expenses, bank statements, Cheque counterfoils, and bank transfer records. Our relationship accountants either visit the company’s office or collect the documents to update transactions in suitable accounting software. We finalize the books of account periodically, typically on an annual basis. The resulting reports cover various aspects of financial performance.

• balance sheet (statement of financial position),
• profit and loss account (statement of comprehensive income),
• cash flow statements,
• receivables ageing list,
• payables ageing list,
• comparative report on sales performance,
• comparative report on expenses,
• financial ratio analysis,
• working capital analysis,
• breakeven point analysis/margin of safety etc.