As business consultants that are often brought in to shore up the small business bookkeeping, we can tell you a few ways to check the work and make sure it is trustworthy. This is a simple list to audit your books for accuracy. Note: this is not a session on how to interpret what you see. It’s only about building credibility for the bookkeeping data that is in there.
To start, you need to find out how “up to date” your books are. When was the last time your bookkeeper caught up your books? You should run all reports as of the last date the bookkeeper says things are complete. This is often the end of last month, or even a couple months back.
I’m going to use QuickBooks language, but the report requests are the same whether you use FreshBooks, Xero, or any other small business accounting program:
Need help running or looking at these? We love this stuff! Happy to help. If you have more questions about these, feel free to email us and we can answer direct questions, or do another blog based on the questions.
Barb is the CEO of Fisher Bookkeeping, an outsourced bookkeeping consultancy that provides small businesses with a full-service financial department. Her favorite aspect of work is to break down the accounting to meaningful bits, so entrepreneurs can make a powerful difference in their own business. She's also a power lifter (squat: 215, DL: 270).