Many people associate a diagnostic review with their cars. You take it to the shop, and they “run” a diagnostic on your vehicle. I can do the same thing with your financial statements and books. With my accounting background and degree, I know what is needed to file your taxes at year-end. Why not have a mid-year review done and make sure you’re on the right track? No need to why until year-end and put unnecessary pressure on yourself.
What did you need from me, and what do you review?
First, I request the following information from you.
- Access to your QuickBooks Online (QBO)
- Bank and Credit Card statements for the period in question
- Loan statements or original documents when assets were purchased – auto, real estate, any asset on the books.
- Type of entity
- Last tax return
Review List
- Last date bank and credit card accounts were reconciled
- Uncleared items in the bank reconciliation – old, duplicates
- Undeposited funds – old balances
- A/R and A/P aging reports
- Profit & Loss review
- Uncategorized income
- Uncategorized expenses
- Unusual or unexpected balances
- Large negative balances
- Miscategorized transactions
- Miscategorized fixed asset added as expense, not asset
- Balance Sheet review (accrual basis)
- Unusual or unexpected balances
- Large negative balances
- Negative balances in A/R
- Miscategorized transactions
- Accounts with old balances
- Miscategorized fixed asset added as an asset, should be expense
- Loans/Notes payable – principal balance, interest expense not recorded correctly.
- Sales taxes and payroll taxes
- Owner distributions – equity, owners draw
- Personal income or expenses
- Profit & Loss review
Oh my – How do I hire you to do this?
Well, this is the easy part. I would love to have a connect with you and hear more about your business. You can either email me at NicoleA.CO2000@gmail.com or schedule a meeting with me via phone or zoom at https://calendly.com/excelbook. I look forward to hearing from you soon.
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