FILE CATCH UP AND DIAGNOSTICS

Behind on your books?

Diagnostics:

Did you previously have a not-so-good accounting professional?
Need to get ready for tax season?
Currently using QuickBooks Desktop and want to go to the cloud?
Wondering if you have a great set of financial records?

I would love to review your QuickBooks file and provide an analysis of what is going great for you, and what isn’t working the greatest for you.

LET’S CHAT

This is a judgment-free zone, I am here to help!

COMPANY SETTINGS:

Analysis to create optimal company settings and create effective workflow in your file.

OVERALL REVIEW:

Bookkeeping housekeeping is important. We will check for transactions with no vendor or customer, transactions with duplicate or no numbers and general organization

Are your transactions coding to the correct accounts? Do you have assets posted as expenses? Negative income and/or positive expenses? Do you have uncategorized transactions? Undeposited funds? Are you auto accounts being treated correctly? How about meals & entertainment?

CUSTOMERS & VENDORS:

Review of customers and vendors, including scanning for duplicates.

RECONCILIATIONS:

How many accounts should be reconciled, when they were last reconciled (if at all), and are there old uncleared transactions.

CHART OF ACCOUNTS:

Review for logic, tax code settings and how it will impact your reporting.

SALES TAX:

Review that tax codes are applied correctly.
We will check that your sales tax is current and correct in QuickBooks.

REPORTING:

Your Balance Sheet is likely more important than you think. We will check that you accounts are in the correct +/- position, undeposited payments are current, that any clearing accounts are cleared and your equity is reasonable.

Accounts Payable and Accounts Receivable need to be current. We’ll review them for irregularities.

Does your Profit & Loss make sense? Is it giving you the information you need to make sound business decisions? Are your accounts in logical order? Cost of Goods/Services Sold is key to your P&L, we’ll double check that you don’t have operating expenses posting there. Or COGS posted as expenses. Are your Other Income or Other Expenses coded correctly?

WORKFLOW APPLICATIONS:

I LOVE accounting technology and how it can lighten your workload and streamline your workflow. I will suggest a few useful, easy to adopt applications that will do the heavy lifting for you and take you to the paperless world.

THEN…

I will send you a report of our findings and schedule a Zoom conference to discuss your next steps.

Book an appointment today: Make an appointment or call 920-621-7150

Inside the process:

File organization case study

This organization project consisted of 5 years of business financial records for a real estate LLC and a corporation bar & restaurant.

BEFORE

The client gave me 6 boxes full of vendor/supplier bills, receipts, tax returns, contracts, insurance policies, payroll records, employee records, and other business documents – with no date, year, no type of
organization whatsoever!

WHAT WE DID

This project took 1 month (with procrastination included) and help from the in-house staff (a.k.a. our cat co-workers).

We created a box for each fiscal year with dates marked on both ends as well as the top. Inside each box, we added folders marked with the appropriate year and we filed in date order (oldest in the front to newest in the back) all the vendor/supplier invoices were organized and categorized A-Z by name.

The receipts were filed in date order(oldest in front to newest in back) and categorized by month using the date on the receipt. They were also placed inside a plastic bag so they don’t go flying all over!

Binders were also organized for payroll journals by year.

THE RESULTS

The system of organization and labeling we created allows a folder to be pulled out of a box while knowing which box the folder is to be returned to. It also sets a standard for easy future organization.

We returned to the client:

9 boxes
- 5 boxes labeled by fiscal year with vendor/supplier invoices and receipts
- 2 boxes of employee files separated by current and previous employees
- 1 box of vendor/supplier agreements
- 1 box of business tax returns and financial records (closing documents, remodeling documents, W-9 forms, and financing documents)
11 binders
- 5 binders of payroll journals labeled by fiscal date year
- 1 binder of merchant statements
- 1 binder of LLC bank statements
- 2 binder of corporate bank statements
- 1 binder of state tax report filings and payment receipts
- 1 binder of unemployment tax notices
- 1 binder of retirement account statements