Are your numbers not adding up? Are you uncertain of where your business finances are at? You may need an account cleanup.
An account cleanup involves reviewing and reconciling a company’s financial records. It improves accuracy and consistency. It will address errors and give you a clearer view of your financial outlook.
What is Involved in an Account Cleanup?
- Gather Financial Records: Our bookkeepers will gather your bank statements, credit card statements, receipts, invoices, and other financial documents.
- Review Transactions: We will review your transactions to ensure they have been accurately recorded. Our team will look at dates, amounts, and account classifications to determine if they are correct.
- Correct Errors: If we find errors and discrepancies, we will correct them. We will ensure your records are complete and accurate.
- Reconcile Accounts: Reconciliation involves comparing internal records against bank statements. It ensures all payments and expenses are recorded correctly.
- Prepare Financial Statements: Once the account is cleaned, we will provide financial statements including cash flow, balance sheets, and profit and loss reports so you get an accurate overview of your company’s financial health.
What are the Benefits of an Account Cleanup?
- Addresses Errors: An account cleanup identifies and fixes errors and discrepancies, so you get a clear view of your financial health.
- Prepares You for Tax Time: Account cleanups are recommended before tax time. Your records will be organized and ready to process for your return. The process will also resolve errors that could lead to audits and penalties.
- Helps You Make Better Financial Decisions: Once you have a clear overview of your financials, you will make better financial decisions. You will have a clear idea of your ROI so you can determine which investments drive profitability.
Why Coastal Compass Bookkeeping is a Preferred Financial Services Provider
- Accuracy: Our years of experience ensure accurate financial services.
- Optimal Transparency: We will break everything down for you to ensure you know where your finances stand.
- Trusted Service: We use secure platforms. Our trustworthy bookkeepers ensure your personal information will not be compromised.
- Versatile: We handle everything including payroll, invoicing, accounts payable and receivable, reconciling, and reporting. We will take the stress of handling finances off your plate.
- All Industries: We serve various industries and companies of all sizes.
Let us ensure your books are accurate. Contact us to learn more about our account cleanup services.
