Strategies for diagnosing a QuickBooks Online clean up

Here are the strategies that I use:
1. Paid diagnostic review
2. Request information needed - QBO, last tax return, bank and credit card statements, entity, industry, specific business practices
3. Basic things I Review (we use a review checklist):
i. Last date bank and credit card accounts
were reconciled
ii. Uncleared items in the bank reconciliation
- old, duplicates
iii. Undeposited Funds - old balances
iv. Profit & Loss review
- Uncategorized income
- Uncategorized expenses
- Unusual or unexpected balances
- Large negative balances
- Miscategorized transactions
- Miscategorized fixed asset additions
v. Balance Sheet review (accrual basis)
- Unusual or unexpected balances
- Large negative balances
- Miscategorized transactions
- Accounts with old balances
- Miscategorized fixed asset additions
- Loans payable - interest expense not
recorded correctly.
- Sales taxes and payroll taxes
- Owner distributions
vi. Personal transactions recorded in QBO
__________________________
Remember to subscribe so you get all my latest videos as soon as they come out! Check the links below for more info and helpful resources.

Download my free Virtual Bookkeeper's Toolbox: https://bit.ly/39lT6mi

Get notified about all my latest content, webinars, courses, and more: https://veronicawasek.ck.page/content

Join my Facebook community of virtual bookkeepers to find support and get your questions answered: http://bit.ly/2Am1lLQ

Check out my online academy for virtual bookkeepers to find amazing, free training resources as well as full courses on everything from pricing your services to virtual bookkeeping workflows. See what we've got for you right now at: https://5MBacademy.com

Follow me on Instagram @5minutebookkeeping for bookkeeping tips, inspiration, and some behind-the-scenes looks at what we're up to:   / 5minutebookkeeping  

**Manage client communications and bookkeeping workflows with ease using the Keeper app. Get 20% off the first 3 months by signing up with this link: https://keeper.app/?via=veronicawasek

Recommended playlists:
Successful Virtual Bookkeeping Business: http://bit.ly/37rCAur
QuickBooks Online cleanup & diagnosis: http://bit.ly/2ZFOQVL
E-commerce accounting for Shopify sellers: http://bit.ly/36SDaRV

**Affiliate link

Copyright 2022 5MB LLC