The backlog accounts services is essentially to “rescue” a company’s accounts.
Interactive Accounts can help you with:
Accounts not done since incorporation as owner didn’t know what to do/ or were too busy to look into this area.
Owners neglect accounts as they were too busy trying to grow their sales
Owners think that accounts is not important as they are just for compliance purpose
In-house accounts staff unable to manage the accounts, resigned and left the accounts undone.
GST reported in the accounts were incorrectly done, resulting in penalty. We we tasked to rectify the accounts
The common scenarios we encountered in Interactive Accounts includes that the accounts may not be done since incorporation as owners did not know what to do or were too busy to look into this area. Owners may neglect their accounts as they were too busy with revenue generating activities.
It is important for a company’s accounts to be done correctly for compliance purpose. As such, companies will then only pay the right amount of tax necessary and unnecessary fines and late penalties can be avoided.
However, some business owners may think that if it is solely for compliance issues, accounts would also not be that important.
In this instance, it is arguable that even though revenue generating activities is important, having the company accounts prepared in a true and fair view is equally as important. The financial statements act as a report card to see the business’ performance and allow business owners to plan strategically for the future. For example, a company may be generating a substantially large amounts of sales but expenses may be too high resulting in a loss in the income statement for the year end. Or even showing a profit but most client have yet to pay for the goods or services. As such, the company may be suffering negative cash flow.
Other scenarios we have faced is that the in-house accounting staffs are unable to manage the accounts, resigned and left the accounts unfinished. Which is why, in Interactive Accounts, we have a system in place ensure that there are more than one person capable of handling your accounts. The dangers of only have one accountant in charge of a client’s account is that if that particular person falls sick or is facing any emergencies, our clients are well supported and not compromised.
Also GST reported in the accounts were incorrectly done, resulting in penalty. Consequently, Interactive Accounts are tasked to rectify the accounts.
In Interactive Accounts, we believe in giving our clients the fullest support and we make it our business to help business owners rectify these problems. We want our clients to be with us long term, thus, we will do help clients sort out these problematic areas such that in the long term, these problems will be non-existent.