Discovery Checklist for Bookkeeping Services
Our goal is to educate and empower you about your business finances so you can make better-informed business decisions. To do this we need to understand your business and your current financial data management process.
Here is our 21 Point Discovery Checklist to give us a deeper look so that you can make educated decisions about your next steps.
21 Point Discovery Checklist
- General Information
- Business Name (Operating and Legal)
- Entity Type
- Business formed
- Taxes last filed
- Relationship with Accountant
- Long term plans/goals
- Current software and version
- Number of accounts and account types
- Other, etc.
- For each account – last reconciled
- Outstanding issues with reconciliations
- Review Reconciliation reports
- Outstanding transactions?
- Balance issues?
- Review chart of accounts – document anything noticed
- Negative accounts
- Unusual practices
- Unused accounts
- Assess Profit and Loss
- Evaluate Balance Sheet
- Review A/R Aging
- Review A/P Aging
- Any outstanding issues
- Liability accounts balances?
- Are we missing any credit cards, LOC’s or loans?
- Personal spending from business accounts?
- Spending personal money on business expenses that are not on books?
- Overall Review Synopsis
- QuickBooks Online (QBO) upload potential:
- Total Targets
- Class tracking
- Multiple currencies
- Price levels
- Customer types
- Billable expenses
- Sales Tax
- Other Names List
- Current status with CRA
- Employee Deductions
- Sales Taxes
- Status with WSIB
- What Reporting Received by Management
- Current Pain Points not Solved
- 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.