Clean Up
Clean up is going through all the historical information to ensure each transaction has been accounted for and new practices are established.
Some tasks may include:
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Fix customer payments and credits that have not been applied correctly
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Write off noncollectable invoices
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Review accounts receivable aging summary report for any additional corrections, updates, or changes that need to be made to your accounting file
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Fix vendor payments and credits that have not been correctly applied
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Look over unpaid bills report for any additional corrections, updates, or changes that need to be made to your accounting files
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Reconcile bank accounts and credit card accounts
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Locate discrepancies in your bank reconciliations
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Reclassify transactions that have been incorrectly recorded into your accounting files
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Look over working trial balance for misclassifications, data entry errors, and prepare a list of suggested adjusting journal entries to correct these bookkeeping mistakes
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Troubleshoot prior account balances that have been changed
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Look for changes to company’s chart of accounts
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Review the setup of accounting file and make any necessary corrections
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Inform you of changes to your customer and vendor lists
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Find changes to your business’ fixed asset items