Accounting Cleanup & Remediation Services
Fixing accounting problems, reconciling historical balances, and building a cleaner foundation going forward.
Accounting issues can accumulate over time. Accounts may stop reconciling, transactions may be misclassified, balance sheet accounts may contain unexplained amounts, or financial statements may no longer reflect what is actually happening in the business.
Schmid CPA helps businesses identify accounting problems, clean up the underlying records, and establish a more reliable accounting process going forward.
Historical Bookkeeping Cleanup
- Review and correction of prior-period accounting records, transaction classifications, and incomplete bookkeeping.
Balance Sheet Reconciliations
- Reconciliation and investigation of bank accounts, credit cards, receivables, payables, payroll liabilities, loans, equity, and other balance sheet accounts.
Accounting Error Correction
- Identification and correction of duplicate transactions, incorrect classifications, unsupported balances, and other accounting errors.
QuickBooks Cleanup & Restructuring
- Review and organization of QuickBooks Online, including chart-of-accounts cleanup, account mapping, reconciliations, and accounting structure.
Financial Statement Remediation
- Review of financial statements to identify unusual balances, inconsistencies, and accounting issues requiring correction.
Process & Control Improvements
- Recommendations to improve reconciliations, close procedures, documentation, responsibilities, and recurring accounting processes after the cleanup is complete.
A cleanup project should do more than force accounts to agree.
When an accounting problem is identified, Schmid CPA works to understand why it occurred, what transactions or processes created it, and what should change to reduce the likelihood of the same problem recurring.
That can mean correcting historical records while also improving reconciliations, documentation, account structure, or monthly procedures going forward.
Cleanup and remediation may be appropriate when:
★ Bank or credit card accounts have not been reconciled
★ Balance sheet accounts contain unexplained balances
★ Prior-year transactions were incorrectly recorded
★ Accounts receivable or payable does not agree to supporting records
★ Payroll balances do not reconcile
★ Fixed assets or loans were recorded incorrectly
★ Intercompany balances do not agree
★ The chart of accounts has become difficult to use
★ Financial statements contain unusual or unreliable balances
★ Tax preparation identifies accounting problems
★ A company has changed bookkeepers or accounting personnel
★ Management needs more reliable financial information
The scope of a cleanup depends on the condition of the records, the periods involved, and the intended use of the corrected financial information.
Once the accounting records are corrected, the next question is how to keep them that way.
Schmid CPA can help establish recurring reconciliations, monthly close procedures, clearer accounting responsibilities, and financial reporting processes.
Businesses that need continued support can transition from a one-time cleanup project into ongoing monthly accounting or an outsourced accounting relationship.
Whether the issue involves several unreconciled accounts or a broader breakdown in the accounting process, the first step is understanding what is wrong and defining a practical remediation plan.
Need help cleaning up or correcting your accounting records?
Schedule a consultation to discuss the current condition of your books, the periods involved, and what needs to be corrected.