9 Vital Bookkeeping Clean-Up Checklist Items Free Template

We have Service Directors whose sole mission is to keep projects moving to a successful conclusion. After you sign up, the Service Director will assign you to one of our bookkeepers. That Service Director and that Bookkeeper will be assigned to you from that point on out unless you request a change. (You may request a change of bookkeeper if you are not satisfied or feel you don’t “mesh” well with the one assigned to you).

By checking your payroll records, you can ensure that all payments and deductions have been appropriately documented and that you comply with all tax requirements. From catch-up work to data entry to ongoing upkeep, we can help with it all. Our affordable options make our service accessible to businesses of any size. Rest assured you’ll get the quality work at a price that won’t eat into your profits.

Filed a business tax extension? Sign up for our spring clean up.

We’ve found that less than 20% of bookkeepers enjoy this and only about 10% have the requisite training and experience to be effective at it. Because we specialize in clean-up and catch-up we have developed tools, software and processes that make us faster and more effective than they average bookkeeping and accounting firm. Many business owners get lost here because they make things pile up. This bookkeeping clean up checklist gives you an idea of some of the things that we do when you hire our bookkeeping clean up services. Lack of procedures and documents is likely why you ended up with an accounting mess in the first place.

• It’s important to find a solution that works best for you to keep accurate books.
• We’ll review transactions in Xero or QuickBooks Online, evaluate your chart of accounts, enhance internal controls, and analyze cash flow.
• We just need to know a few key details like how many bank accounts, credit cards and the average size of bank statements and expenses to develop a flat-fee quote.
• We give an estimate before the work begins and keep you informed as the work progresses so you’ll know how much you’ll be charged in the end.
• You will have all the resources necessary by the end of this manual to approach your bookkeeping clean-up with assurance and comfort.
• If you work with multiple team members, having each person log each step in the process ensures you can monitor progress.

Our bookkeeping clean up services offer you the peace of mind that comes with having an expert bookkeeper carefully comb through all of your past records and ensure that they are accurately filed. Whether you have outstanding reconciliations, past errors, or issues with tax or payroll, we can take care of it all. Our team is skilled in capturing all receipts and payments to ensure that nothing is missed. When you sign up to do a bookkeeping clean up with us, you are in good hands. We will update your books back to the agreed upon date and make sure that all your transactions are properly recorded, your accounts reconciled, and everything is correctly balanced.

Bookkeeping Software

For clean up projects we’ll need to get access to your bookkeeping software. If it’s QuickBooks Online (or Wave or Xero) you can invite my firm as an Accountant. If it’s QuickBooks Desktop then we’ll need to discuss how to get access. This is usually by getting an Accountant’s copy or using a Remote Desktop (Team Viewer or GoToMyPc or similar). About 1.5-2 hours into that first block of time, our Bookkeeper or Accountant will have a more firm estimate of what it will take to get it done. It is still an estimate, though, as these projects are very difficult to predict.

This will catch any transaction posted to an account after it has been reconciled and avoid messes for everyone. If you are working with an electronic file, you will need to download the information from the client’s financial institutions or wait for your client https://www.bookstime.com/articles/certified-bookkeeper to send you PDFs each month. Ensure you have the most recent information and good data before beginning the process. Once I see where your books are at currently, I’ll send you over a proposal outlining the services I’d be performing and your unique quote.

Reconcile Bank Accounts

Probably the most important step in getting your books in order is reconciling your bank statements. 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.

• But with so many expenses—utilities, telecom, insurance—it can be easy to lose track of accounts payable, resulting in nasty surprises like overcharges.
• This can be as much a personnel decision as an accounting one.
• They may not be familiar with things like prime cost, job costing, and other items that are important to your specific industry.
• We’ve found that less than 20% of bookkeepers enjoy this and only about 10% have the requisite training and experience to be effective at it.
• Local travel can provide a significant tax deduction for business owners who have non-commuting travel expenses.

Lastly, our on-going bookkeeping services will ensure you stay on top of your finances. Common bookkeeping errors that can impact your taxes include incorrect expense categorization, unrecorded transactions, unreconciled accounts, and inaccurate revenue recognition. Reconciling your bank accounts is the first step in bookkeeping. Comparing your bank statements to your accounting software to ensure all transactions are appropriately recorded is reconciling your bank accounts. To sum up, a bookkeeping cleanup checklist is vital for ensuring that your financial records are correct and current. You can evaluate your accounts receivable and payable, payroll, inventory, and tax filings, clean up your chart of accounts, and back up your data by following these procedures.

major advantages of QuickBooks for your business.

In short, bad bookkeeping puts your time and money—and maybe even your business—on the line. If you find yourself dealing with any of the above issues, it might be time to give your books some TLC. What’s the big deal if your books are a little messy, anyway? Messy, incomplete, and inaccurate bookkeeping bookkeeping clean up can lead to a slew of issues that cost more than just time. Bad bookkeeping can also lead to hefty IRS penalties and (gasp!) audits. The majority of our clients at Acuity go through clean up bookkeeping services with our team of controllers before working with an experienced bookkeeper.