Annual Audit

Prepare annual audit services for businesses which include reconciliation of accounts, compilation and analysis of assets and other data, leading to a financial audit that ensures full business compliance.

Transaction Recording

Accounts Receivables Reconciliation – Match balances of a business’ accounts receivable ledger to its respective customers’ accounts. Accounts Receivables Reconciliation involves the thorough review of invoices, payments, and credits memos to find any discrepancies and resolve as they surface. This helps ensure that the financial records are accurate.

Accounts Payable Reconciliation – Ensure the business’ finances by comparing company accounts payable ledger to vendor invoices. This also helps maintain good relationships with vendors and other suppliers of the business by making sure they are all paid as needed and all transactions are recorded.

Bank Reconciliation – Provide thorough review and comparison of the business’ bank statements and accounting records to make sure that all transactions are recorded, matching, and up-to-date. Reconcile any missing discrepancies such as bank fees, interest earned, credits, or any other transaction within an account.

Supporting Documents Reconciliation – Collate and verify all supporting documentation such as receipts, bank statements, purchase orders, and invoices to make sure that all transactions are reflected in the business’ accounting records. This will provide clarity for the business owner and will help in making financial decisions, as well as in complying with all tax requirements

Data Compilation and Analysis

Lapsing Schedule – Prepare a lapsing schedule for business assets, which includes expected useful life and matching depreciation expense. Ensure that values will be properly reflected in financial statements until the asset fully depreciates or reaches the end of its life. Use specific standardized methodologies to compute and provide the document.

Accounts Receivable Aging Schedule – Provide a report on the company’s accounts receivable relative to the length of time that they have been outstanding. Create an organized sheet that will assist with the cash flow and collections of the company so it can prioritize overdue invoices and ensure timeliness.

Accounts Payable Aging Schedule – Provide a report on the company’s accounts payable relative to the length of time that they have been outstanding. Create an organized sheet that will assist with the cash flow and payments of the company so it can prioritize overdue payments, ensure timeliness, and maintain good relationships with vendors and suppliers.

Business Compliance

Financial Audit – Provide an independent and unbiased review of a business’ financial statement and other accounting records to ensure that it complies with local accounting standards and regulations. Thoroughly examine and verify transactions and test internal controls to help assure business owner and other stakeholders of the accuracy and transparency of the business. Seek accountability should any deficiency or discrepenacies appear.

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