Is Your QuickBooks File a Mess?

Is your QuickBooks file a mess?

It might be time for a health check!

What is 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 data file analysis procedures, we locate data entry and data file setup errors that cause QuickBooks reports to be inaccurate. We prepare a detailed report of the problems we find and then meet with you to discuss it and give you (or your accounting staff) an opportunity to fix the errors reported on. We are also available to make the appropriate corrections if this better serves your needs. The data file analysis 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

  • This is a preventative maintenance 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 a data file cleanup.  Contact us to see if data file cleanup is right for you.

Our data file analysis and repair service gives you confidence that your financial information is correct.  With proper setup and usage of QuickBooks, you can be assured that your data is accurate going forward.

Complimentary Consultation

Call us at 516-532-4839 or email us at info@laurasabbaghcpa.com to find out if you need a QuickBooks health check.

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