The importance of bookkeeping cleanups for small businesses

Whether you are a new or established business you might find yourself with months to years worth of neglected Bookkeeping/Accounting. Yes, we know it isn’t fun, but the dirty work must be done. (Rhymed unintentionally)

Ask yourself the following questions and if the answer is ‘no’ then you may need a bookkeeping cleanup.

1- Do you have an organized bookkeeping structure in place?

2- Do you have a current bookkeeping team or individual assisting you?

3- Have you implemented an accounting software like Xero or Quickbooks to manage your finances?

4- Have you been reconciling and keeping up with posting?

At Sparklelink we analyze your business to see where it stands and what type of service you may need.

We start by analyzing your current financial status:

• Accounts Receivable
• Accounts Payable
• Bank and/or Credit Card reconciliations
• Payroll
• Overview of the profit & loss and balance sheet

The second step, post-analysis, is to create a bookkeeping structure that will get the books up to date for bookkeeping maintenance and will keep the IRS off your back.

You may have from 1 month to 4 years worth of cleanup to do and the work can vary based on the industry of your business (ie. Do you have a POS system (restaurant)? Do you have all of your statements posted in an online accounting software like Quickbooks? When was was the last time you filed your income tax returns?)

Then comes the cleanup.

We’d love to help!

olivia@sparklelink.com