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Accounting & Audit
Book Clean Up &
Historic Accounting

The company’s owner needs a precise and well-maintained set of books to run smoothly and make informed business decisions. Most SMEs have trouble keeping a clean set of books, as this requires regular book updates, proper spending allocation and adherence to commonly accepted accounting principles. A company can penalize itself by overpaying taxes by not having a clean collection of records.

“Book Clean Up" helps business owners understand the financial situation and the real net worth / profit. Our accountants will assist you with the implementation of a suitable accounting system and provide accurate information and timely reports needed for management decisions.

Scope of Services
  • Correction of existing miscoded GL entries such as expenses booked in asset accounts, wrongly booked income etc
  • Fixing vendor payments and credits not applied correctly
  • Fixing customer payments and credits not applied correctly
  • Locate discrepancies in balance sheet items
  • Reclassify historic transactions that have been incorrectly recorded
  • Write back of long term / short term provisions that are no longer required
  • Write off non collectable invoices
  • Write off current assets & non-current assets that are no longer recoverable
  • Clearing backlog of un-posted historic transactions
  • Clean-up of chart of accounts through removal of duplicate and unused accounts and systematic structuring of accounts
  • Support in revaluation of property, plant and equipment and recalculate depreciation & amortization
  • Review of unpaid bills report for any additional corrections, updates or changes
  • Review of “Open / Unsatisfied Charges with Registrar of Companies" created by the company
  • Reconciling historic accounts with bank, credit card, line of credit, vendor and customer statements
  • Review of accounts receivable aging summary report for any additional corrections, updates or changes
  • Reconcile bank and credit card accounts
  • Review of working trial balance for data entry errors, misclassifications and prepare list of suggested adjusting journal entries to correct these mistakes
  • Troubleshoot prior account balances that have been changed.
Need Our Help
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