About this template
Work type: Bookkeeping
Location: United States
Client industry: Generic
This template includes
- 13 tasks
- Automations
Work type: Bookkeeping
Location: United States
Client industry: Generic
This template includes
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Confirm Reconciliation Statements have Been Uploaded |
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Ensure they have been named correctly |
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Review QBO Overview Module |
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All bank feeds cleared for previous period |
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Reconciliations completed for previous period |
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No unusual uncleared transactions |
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General Review |
Reviewer
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Check for large purchases that may be fixed assets - duplicate transaction numbers and transactions with no name associated |
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Vendors and Customers. Check for duplicates and run a quick general review |
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Review Undeposited Funds |
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Check to see if there are "Undeposited Funds" by clicking the "+" sign in QBO and selecting "Bank Deposit" |
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Bank Feed Review |
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Review last dates accounts reconciled. |
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Open AP, AR and Un Deposited Funds to review for transactions that should have cleared bank feeds and may not have. |
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Review the bank feed for open transactions—sort by oldest date. There should be no old uncleared transactions that may have come in post-reconciliation. |
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Balance Sheet Review |
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Accounts in their expected position? |
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Due to/from Shareholders - Owners Equity reasonable? |
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Prepaids reasonable? |
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Current liabilities reasonable (short term loans...)? |
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Sales tax current? |
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Verify General Ledger and Statement Ending Balances |
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Open GL report and set start and finish dates as the last day of the previous month |
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Open BS report and set start and finish dates as the last day of the previous month |
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Open rec reports for overview accounts |
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Open statements for bank/credit card/merchant accounts (overview accounts being fetched) |
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Run down the GL to ensure it matches the BS |
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Ensure the rec report ending balances match the statements and the GL/BS |
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AR Review |
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Negative balances to be reviewed? |
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Aging over 60-90 days? |
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AP Review |
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Negative balances to be reviewed? |
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Aging over 60-90 days? |
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P&L Review |
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Income/expenses reasonable to comparative period? |
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Any un-categorized transactions? |
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Other income or expenses coded correctly? |
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Automobile expenses being treated correctly? |
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Meals & Entertainment Reasonable? |
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Travel & Conferences Reasonable? |
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Products & services review - tracking to reasonable accounts (use P&S report - add income accounts)? |
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Class tracking review. |
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Job costing review. |
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Unbilled transactions review. |
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Roll through Book Review in QBO to check for anomalies |
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Reports Uploaded - Books Closed Email Sent |
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Open/refresh AP, AR, P&L and BS |
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AP review, upload |
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AR review, upload |
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P&L review, upload |
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Balance Sheet review, upload |
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Upload to where client accesses reports |
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Close Books With Password |
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