What's included

• Reconcile Accounts

  1. Bank Reconciliation: Ensure all bank accounts are properly reconciled. 2. Credit Card Reconciliation: Match credit card transactions with statements. 3. Loan Accounts: Reconcile loan balances to ensure they align with lender records. 4. Inventory Reconciliation (if applicable): Clean up inventory records and ensure they match the actual inventory on hand. 5. Reconcile accounts receivable (AR) and accounts payable (AP) balances.

• Updated Financial Statements

  1. Profit and Loss Statement (P&L): Accurate and updated income and expense reports. 2. Balance Sheet: Ensure correct classification of assets, liabilities, and equity. 3. Cash Flow Statement: Corrected cash inflows and outflows.

• Categorization of Transactions

  1. Review and accurately categorize all income and expense transactions. 2. Classify all capital expenses, owner distributions, etc.

• Corrected Journal Entries

  1. Review and correct any erroneous journal entries. 2. Create adjusting entries to fix discrepancies.

• Clean-up Chart of Accounts

  1. Revise the chart of accounts for proper structure, eliminating duplicate or unnecessary accounts. 2. Ensure that all transactions are linked to the correct accounts.