Discovery Checklist

Discovery Checklist for Bookkeeping Services

Our goal is to educate and empower you about your business finances so you can make the best business decisions. In order to do this, we need to understand your business and your current accounting system.

21 Point Checklist


We understand that many of these questions are very personal but we only ask them to get the information required to do the best job we can for you. If it helps to make you more comfortable we are happy to sign your non-disclosure agreement prior to this process.

Here is our 21 Point Discovery Checklist to give us a deeper understanding so that you can make educated decisions about your next steps.

21 Point Discovery Checklist

  1. General Information
    • Business Name (Operating and Legal)
    • Entity Type
    • Business formed
    • Taxes last filed
    • Relationship with Accountant
    • Long term plans/goals
  2. Number of bank accounts and account types
    • Chequing
    • Savings
    • Other, etc.
  3. For each account – last date they were reconciled
  4. Outstanding issues with reconciliations
    • Review Reconciliation reports
    • Outstanding transactions?
    • Balance issues?
  5. Review chart of accounts – document anything noticed
    • Negative accounts
    • Unusual practices
    • Unused accounts
  6. Assess Income Statement
  7. Evaluate the Balance Sheet
  8. Review Accounts Receivable Aging (money due from your clients)
  9. Review Accounts Payable Aging (money owed to your suppliers)
  10. Payroll
    • Any outstanding issues
    • Outsourced?
  11. Liability accounts balances?
  12. Are we missing any credit cards, LOC’s or loans?
  13. Personal spending from business accounts?
  14. Spending personal money on business expenses that are not on books?
  15. Current Accounting Software
  16. Current status with CRA
    • Employee Deductions
    • Sales Taxes
  17. Status with WSIB
  18. What Reporting Does Management Currently Receive
  19. What Additional Reporting Would Management Like To Receive
  20. Current Pain Points that need to be Solved
  21. Future goals desired for Business Financial management

This detailed and in-depth assessment of your books is performed as a complimentary service.

PLEASE NOTE: There is a nominal fee if you request a written copy of our Discovery report.

Return to Getting Started With Us or NEXT STEP is to complete our New Client Questionnaire

You can contact us here.

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