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Do You Need a Bookkeeper?

Let's do a quick scan to see if your books are accurate.

(90% of the small businesses I see don't pass these basic tests)

Balance sheet:

  • Credit cards and bank accounts are positive

  • Nothing in the opening balance equity account

  • Undeposited funds balance is all from within the past 7 days

  • Reconciliations were done as of the end of last month

  • Schedule L from last tax return matches last years ending balance sheet

  • Equity section matches legal business format

  • AR and AP are current

Income Statement:

  • Nothing is coded to parent accounts

  • Nothing coded to uncategorized

  • If classes/locations are used they are always used

  • COGS vs OpEx is being used appropriately

Chart of Accounts:

  • Accounts have account numbers

  • You have enough accounts to provide needed detail

  • Don't have too many accounts

I'll diagnose your books for free with the above criteria and more.

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