I of the first signs that you need our Good Bookkeeping Inspect and Make clean-Up Service ™ is when your Depository financial institution Residual does not match your In QuickBooks Residuum . Y'all tin can hands encounter this when logging into to your QBO account and selecting the Banking tab on your left bill of fare bar. When there is a pregnant deviation betwixt these dollar amounts, it ways that the accounting is not electric current, and should be audited. Keeping your books clean will help set up you for tax time. Another telling sign that yous need an audit and make clean-up of your books is when you have numerous uncategorized transactions in QBO.

We Practise a Deep-Swoop into your Bookkeeping for upward to 12 Months

With this service, your auditor will do a deep dive into all bookkeeping transactions for up to 12 months. Nosotros can audit across 12 months for an additional fee. There are and so many things that can become incorrect in QuickBooks Online when you don't take an experienced person managing your bookkeeping. Our accountants are Members of the QuickBooks ProAdvisor Program that know what to look for and tin can hands fix both uncomplicated and complex errors. Your accountant will review transactions against your account statements and correct every error until your books are in perfect society for the audit period.

We will Carefully Review Account Statements for the Audit Period

All supporting documentation for the audit period should exist provided to your accountant to review against the transaction history in your QuickBooks Online account. This includes bank, credit carte, POS (Point-Of-Sale) and loan statements. Yous should likewise provide nugget buy documentation and advise on any possessor equity transactions that accept occurred. Owner equity transactions are recorded when y'all put money into or accept money out of your business organization. Your auditor volition transport you a notification requesting audit support information that will prove up on your client dashboard. You can upload documents into a folder within your secure document upload portal or email it directly to your accountant.

Nosotros volition Audit Your Accounts, Income Statement and Remainder Sheet

With this service, your auditor will audit the transactions in your QuickBooks Online account and review your Income Argument and Balance Sheet for the audit period to ensure that any transaction errors are identified for correction post-obit the inspect.

We will Provide a Detailed Accounting Audit Findings Report

It is important to maintain accurate bookkeeping records, as this saves yous fourth dimension and money throughout the year. When you are self-employed it is critical to know the true profits of your business concern, equally you volition need to pay Quarterly Estimated Self-Employment Taxes to the IRS based on your earnings. If your accounting has not been done correctly, you may overpay or underpay your taxes. One time your accountant reviews your books for the inspect period, they volition upload a Accounting Inspect Findings Report that includes the details of what needs to be cleaned-up in your books into the From My Auditor folder.

Nosotros volition Perform the Good-Bookkeeping Clean-Up After the Audit

With this service, your accountant will employ your Expert Bookkeeping Audit Findings Written report to clean-upwards your books for the inspect period. Your accountant may request business relationship statements and other supporting documentation to complete the clean-up process. This service does not include the clean-up of sales tax liabilities, past payroll processing or payroll tax liabilities.

We volition Correct Bank Feed Errors & Upload Missing Transactions

During the Good Bookkeeping Inspect ™ your auditor will place past errors that were made when transactions were added via the bank feed during the inspect menstruation. These errors will be corrected during the Good Bookkeeping Make clean-Up ™ process. If the initial inspect identified missing transactions in any of the depository financial institution or credit card accounts, your auditor volition send you a notification to request an Excel csv file of the missing transactions for the engagement range in question that volition prove up on your client dashboard. You lot can upload the requested information into a folder within your secure document upload portal or email it directly to your auditor. Your accountant volition upload the missing transactions into your banking concern feeds, categorize and reconcile them. If your banking company feeds look like the sample below, there are many missing transactions!

Bank Feed Transactions Missing

Nosotros will Correct Information Entry Errors & Fix Bookkeeping Transactions

Information technology is non uncommon for manual information entry errors to occur when creating transactions such as vendor bills, expenses, sales receipts, invoices, deposits, payments and periodical entries in QBO. During the Skilful Bookkeeping Make clean-Up ™ process, your auditor will correct these errors while fixing the linked accounting transactions by immigration any erroneously created debits or credits that may have been created equally a result of the original errors. Your historical bookkeeping transactions will be corrected to what actually happened and so that they match your bank feed transactions and your business relationship statements.

We will Correct Errors Made Transferring Coin Between Accounts

Ane of the most mutual errors in the QuickBooks Online bookkeeping process is the incorrect transferring of money between accounts. During the Good Accounting Clean-Upward ™ process, your accountant will fix your transfers betwixt accounts so that your debits and credits related to the transfers will exist accurately recorded on your account registers. Delight note that payments made from connected bank accounts to connected credit card accounts are managed every bit transfers between accounts, credit menu business relationship payments are not added .

Nosotros volition Correct All Unapplied Greenbacks Income or Cash Bill Payments

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 to enter the respective customer invoice or vendor nib on a later appointment. When this occurs, information technology results in the recording of unapplied cash payment income and unapplied cash pecker payment expenses. This happens someday a vendor pecker or client invoice engagement is later than the payment date. Your accountant will correct these errors during the book make clean-up process.

We will Clear & Match Your Undeposited Funds to Depository financial institution Deposits

If the correct club of operations is not followed when receiving payments from customers in QuickBooks Online, you can quickly rack-up a balance in Undeposited Funds account. This account is what we refer to as your virtual eolith slip. Money received from customers is supposed to exist deposited to this business relationship before your QBO banking company deposit is created and matched to the deposit that comes into your banking company feed. If y'all mistakenly receive customer deposits that come into the bank feed straight to income accounts and robotically friction match and add deposits in the banking concern feed, yous tin mess upwardly your books. Your accountant will clear Undeposited Funds balances past creating deposits in QBO from groups of received payments to lucifer to your banking concern feed deposits. Your auditor will likewise add funds to deposits to tape the expense of banking concern fees or cash-back received when deposits were fabricated. This volition ensure that the reconciled deposit amount matches what actually happened in your banking company account.

We volition Tape Your Loan Liabilities & Related Interest Expenses

A mutual oversight we notice during the Skillful-Accounting Audit ™ procedure is the absence of concern loan liabilities and related interest expenses on the Rest Sheet and Profit and Loss Written report . When concern owners setup their QuickBooks Online accounts, they are understandably focused on connecting accounts and setting up customers, products and services, and vendors. For this reason, liabilities and related interest expenses may be disregarded. Your accountant will review your concern loan statements and verify your loan payments, balances, and involvement expenses are recorded.

Nosotros will Record Your Businesses Fixed & Other Current Avails

Nearly small business owners will get help from their accountant to tape the fixed and other current avails for their business. If you have been in business for some time and take filed income tax returns for your business in prior years, information technology is likely that these assets are recorded. With the Skillful-Accounting Clean-Upward ™ service we will add any additional concern assets that were not previously recorded then that they are accurately reflected on your Balance Sheet. This includes recording inventory stock value, investments and loans to shareholders.

We volition Undo & Re-Reconcile Bank and Credit Cards Accounts

Some business owners volition attempt to reconcile their bank and credit card accounts directly within their business relationship registers. Others will reconcile accounts with manually entered transactions, leaving banking concern feed transactions unmatched and outstanding in their bank feeds. It is too mutual for reconciliations to be completed with unreconciled differences otherwise known as reconciliation discrepancies, miss-matched transactions, duplicate transactions, and unresolved opening balance equity transactions. Your accountant volition disengage some reconciliations, resolve reconciliation discrepancies and opening balances, then re-reconcile your accounts. One time complete, they volition upload Reconciliation Reports into the From My Accountant Binder.

We volition Prepare New Fiscal & Transaction Particular Reports

In one case your accountant has completed the Expert Bookkeeping Clean-Upwards ™ , they will create a new set of Financial Reports and a Transaction Detail Study that will exist uploaded into the From My Auditor folder located within your secure document upload portal. You lot should look to notice that your register balances lucifer your bank and credit menu account balances when this service is complete. This service does include the clean-upwardly of your chart of accounts, products and services, or your vendor and customer lists.

Regina Pitts
Regina Pitts Main Accountant & Bookkeeper
Member of the QuickBooks ProAdvisor Program

Bookkeeping and Bookkeeping Support by a QuickBooks ProAdvisor Program Member

I founded Lend A Hand Accounting because I believe accounting and bookkeeping services should exist affordable, efficient, and flexible. We apply apartment fee pricing, which makes our accounting services a comfortable fit for any upkeep. At Lend A Hand Accounting, we've constitute a formula that really works! You select the accounting services yous need, and command when you want to start or stop services. It is all in your hands! Nosotros've cut out the need for countless phone calls and long trips to the accountant's office.

Feel complimentary to call or text me now at 360-637-4799. We can also get started right away. Go ahead and create a gratis business relationship and nosotros tin can automatically look at your books and permit you know where you stand up.

We really appreciate your concern and look forward to serving all of your accounting and accounting needs. Thanks again!

Gina

The Content is for informational purposes only, you should not construe whatever such data or other material as legal, revenue enhancement, investment, financial, or other advice.