Good Bookkeeping Audit & Clean-Up Advisory and Transactional Accounting Services for QBO Clients with US small businesses

Hindsight being 20/20, you probably realize you wouldn’t be looking into bookkeeping clean up fees today if you’d initially hired an experienced professional to get it right. We take care of both your physical and computerized records in order to give you and anyone else who wants to take a look, a clearer picture of where your company is financially speaking. Don’t let fear set in and call our company if you feel that your financial records need a thorough cleanup. As you already know, bookkeeping cleanup checklists are easy to find on the internet. But if your business requires more in-depth expertise, hiring a professional bookkeeping company is the only way to go. If you notice any unusual items or trends, you should include comments or questions when you send them the report.

This Audit Report may include recommendations for one-time project accounting work to complete your book cleanup. Small business owners wear many hats and often hand-write checks to vendors and quickly receive payments customers in QuickBooks Online. It is not uncommon for these business owners https://www.bookstime.com/articles/how-much-does-a-cpa-cost to enter the corresponding customer invoice or vendor bill on a later date. When this occurs, it results in the recording of unapplied cash payment income and unapplied cash bill payment expenses. This happens anytime a vendor bill or customer invoice date is later than the payment date.

Vital Bookkeeping Clean-Up Checklist Items (Free Template)

You might be audited by the IRS at any time and you can imagine how bad it would look when the government starts taking a closer look at your books of accounts. If you are working with a physical file, make sure you have all of the information from the business owner that you need before you begin the process. Once our bookkeeping clean up services are complete, you’ll have clarity on your profitability and be able to generate meaningful insights from reports, like your P&L statement. Your bookkeeping clean up will be done by an experienced bookkeeper here in the US. We’ll go through each item and accurately sort out your financial records. Clean and organized books lead to better decision making by management and transparency in reporting.

• Our team of experts can help you get ahead whether you’re a month or years behind.
• Most small business owners will get help from their accountant to record the fixed and other current assets for their business.
• Regardless of whether you’ve kept your financial data well-organized and stored on a hard drive or out of sight in filing cabinets, we can work with you to clean up your bookkeeping.
• Still, every business is unique, and some may require more than one bookkeeping clean up, depending on their specific needs.
• This process allows you to get an accurate snapshot of where your business stands financially, while helping you spot areas for improvement, identify opportunities for growth, and save money on taxes.
• Are you looking for accounting services that help you create and maintain an accurate set of books so that your business can run smoothly and you can make better-informed decisions?

Many dental practitioners have a difficult time managing a bookkeeping initial set-up and historical cleanup of their finances. An experienced bookkeeper will record transactions accurately, provide regular reports that analyze the combined effect of transactions over a period of time, and monitor overall business health. Bookkeeping clean up fees should depend on things like the state of your books, how many and what kind of accounts you have, the number of transactions processed during any given time, and many other factors. Though most errors in bank transactions are caught during the reconciliation process, you should verify the ending balance in each account once you’ve finished your monthly bookkeeping process. The only extra charge you would have is for an online accounting system, such as Quickbooks Online if you choose to do so.

Accounts Receivable Services

Inexperienced bookkeepers often incorrectly project how many hours they’ll need. They may not be familiar with things like prime cost, job costing, and other items that are important to your specific industry. We do not knowingly collect personally identifiable information from anyone under the age of 18. If you are a parent or guardian and you are aware that your Children has provided us with Personal Data, please contact us.

At this point, you should identify any missing information and reach out to your clients for clarification or additional documentation. Setting time aside to tend to the regular clean-up of your books, is beneficial to every business. Our Chicago-based online bookkeeping catch-up services can ensure your books are organized and tidy come tax season. Don’t wait until April to tackle account reconciliation — by then, it’s too late. Instead, address your potential problems now and plan to catch up on your books with an expert.

What’s the difference between catch up bookkeeping and bookkeeping clean up?

Your accountant will correct these errors during the book clean-up process. With this service, your accountant will do a deep dive into all bookkeeping transactions for up to 12 months. There are so many things that can go wrong in QuickBooks Online when you don’t have an experienced person managing your bookkeeping. Our accountants are Members of the QuickBooks ProAdvisor Program that know what to look for and can easily fix both simple and complex errors. Your accountant will review transactions against your account statements and correct every error until your books are in perfect order for the audit period.

• Whether you’re just a few months behind and need a quick catch-up or your books have been completely neglected and you need support with sales tax, payroll, and reporting, we can rescue you.
• The heart of the bookkeeping process is to ensure your clients’ financial records are complete and accurate.
• We are outsourced bookkeepers, CFOs, and entrepreneurs who are passionate about offering our clients a lasting relationship to help their business grow.
• Without good bookkeeping, you can’t generate reliable financial statements or make good business decisions.

This service does not include doing prior period transactional accounting work such as categorizing and matching transactions that were left in the connected bank feeds. This work would require a one-time project accounting fee in addition to the 12-month audit fee. Flatworld Solutions is a leading accounts cleanup and historic accounting service provider and provides a range of services designed to keep your accounting books neat, clean, and well looked after. With our cleanup and historic accounting services, you get a comprehensive understanding of your financial position and can file taxes much more accurately. You can also woo potential investors by presenting them with clean and well-organized accounting data.

High-quality Services

Your bookkeeper takes the lead on your bookkeeping and runs essential reports so you can focus on your business. Receive personalized insights including your profit and loss report and balance sheet. This helps inform your business decisions and gives you time to do what you do best. One of the first signs that you need our Good Bookkeeping Audit and Clean-Up Service™is when your Bank Balance does not match your In QuickBooks Balance. You can easily see this when logging into to your QBO account and selecting the Banking tab on your left menu bar. When there is a significant difference between these dollar amounts, it means that the bookkeeping is not current, and should be audited.

• This service is included with the Audit and no additional one-time fees apply.
• It is not uncommon for manual data entry errors to occur when creating transactions such as vendor bills, expenses, sales receipts, invoices, deposits, payments and journal entries in QBO.
• This is a simple service that can do wonders for your business and bring you some peace of mind in the process.
• So you didn’t hire a professional to setup your books right the first time.

Another telling sign that you need an audit and clean-up of your books is when you have numerous uncategorized transactions in QBO. Loans and credit cards are also checked to make sure every single aspect of your finances are sorted out. Once the operation is finished, you will be provided with a set of books that is 100% up to date and trust us, at that moment, you will be relieved. Sleeping better at night is priceless and knowing in detail your financial situation is important too. Once you’ve verified all your documentation is in order, you can put together financial statements for your clients. You should regularly check in to ensure the reporting you are providing is useful for them so you can ensure you are not wasting time producing reports that are not being used.

The Importance of Accounting Clean-Up

One of the most common errors in the QuickBooks Online bookkeeping process is the incorrect transferring of money between accounts. Please note that payments made from connected bank accounts to connected credit card accounts are managed as transfers between accounts, credit card account payments are not added. It is not uncommon for manual data entry errors to occur when creating transactions such as vendor bills, expenses, sales receipts, invoices, deposits, payments and journal entries in QBO. Your historical accounting transactions will be corrected to what actually happened so that they match your bank feed transactions and your account statements. This part of the audit service and no additional one-time fees apply in this case.

From catch-up work to data entry to ongoing upkeep, we can help with it all. Our affordable options make our service accessible bookkeeping clean up to businesses of any size. Rest assured you’ll get the quality work at a price that won’t eat into your profits.