Data File Analysis
Many small businesses use QuickBooks reports to make significant business decisions without any reasonable confidence in the accuracy of their QuickBooks data. In our dealings with small businesses, we often find errors in their files that cause critical balances like cash, accounts receivable, accounts payable, sales or revenues, expenses, etc. to be significantly incorrect. Using our data file analysis procedures, we locate data entry and data file setup errors that cause QuickBooks reports to be inaccurate. When we find problems with QuickBooks data files, we do not correct them as part of the data file analysis. Instead, we provide you with a data file analysis report detailing our findings. We then meet with you to discuss the report and give you (or your accounting staff) an opportunity to fix the errors reported on. Our staff is also available to make the appropriate corrections if this better serves your needs. The data file analysis we provide will include several of the following items as appropriate and as needed:
Confirm that QuickBooks lists are set up correctly by reviewing the chart of accounts, items, and payroll items for accuracy and appropriateness.
Confirm the accuracy of the balance sheet, including matching QuickBooks data to financial statement and/or tax returns, confirming accuracy of banking accounts, undeposited funds, accounts receivable, inventory, accounts payable, sales tax payable, payroll liabilities, the opening balance equity account, and more.
Confirm the accuracy of income statement balances, including comparing various item and payroll reports to the income, cost of goods sold, and expense categories on the income statement.
- Confirm the accuracy of any specialized or industry specific reports.
Data File Maintenance
Our data file maintenance service is a preventative maintenance service that helps to avoid data file corruption. When data files are properly maintained and checked for errors, the problems with these files are unlikely to occur.
Data File Cleanup
Large accounting system data files cause performance issues and risk corruption of data. Our data file cleanup procedures reduce file size by removing old transactions and deleting unused items from customer, vendor and items lists. If your system starts to slow down and reports take a long time to run, you may benefit from our data file cleanup service. Give us a call to see if data file cleanup is right for you.