Detail-oriented bookkeeper with 10 years of experience in QuickBooks, specializing in financial catch-up & clean-up tasks to ensure accurate & up-to-date records.
Cleaning up QuickBooks is a vital task to ensure your financial records are accurate and up to date. Cleaning up your bookkeeping will set you well on the path to gaining financial insight & peace of mind.
I will start by reviewing & reconciling all your accounts, including bank & credit card statements, to catch & correct any discrepancies.
Next, I will sort-out customer & vendor list by merging duplicates & inactivating obsolete entries. It's also important to scrutinize your chart of accounts, ensuring it reflects your current business structure and eliminating any unnecessary categories.
I will review outstanding invoices & bills, resolving any overdue or uncollectible items.
Finally, consider archiving old transactions & running comprehensive reports to verify that everything aligns correctly, ensuring a clean account moving forward.
I have resolved the accounts and rectified inconsistencies, achieving a 20% increase in the precision of financial reports.
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How long will the bookkeeping clean-up process take?
The time it takes to clean up your books depends on the complexity of your financial situation and how far behind you are. For a basic clean-up, it could take a few hours to a few days.
Will I lose any historical data during the clean-up process?
No, your historical data is safe! A core part of the clean-up process involves organizing your existing data and ensuring its accuracy. This data is crucial for future financial analysis and tax filing purposes.
Check for discrepancies:
If you find any discrepancies between the transactions in QuickBooks or Xero and the transactions in the statements, investigate the causes and resolve them. Common discrepancies include missing transactions, duplicate transactions.
Make adjustments:
If there are any transactions that you couldn't match in the reconciliation process, make the necessary adjustments. For example, you may need to record bank fees, interest income, or other transactions that don't appear in the statement.
Reconcile the account:
Once you have matched all transactions, double-check that the beginning balance in QuickBooks or Xero matches the statement's beginning balance. If it does, reconcile the account, and make sure the ending balances match.