$111,000,000

In Current Total Managed Asset

What's Books Clean-Up?

Bookkeeping cleanup, also known as accounting cleanup or bookkeeping clean-up, is often required at the end of the year when a business is getting ready for tax season or when a business needs to acquire a loan but has not been keeping accurate accounting records.

This situation can lead to trouble, as the company's financial records may be incomplete, inaccurate, or non-compliant with accounting standards and tax regulations.
The process of bookkeeping cleanup involves reviewing, correcting, and organizing the company's financial records to ensure accuracy, completeness, and compliance.

This service is typically necessary when a business has neglected its bookkeeping tasks or made errors in recording financial transactions over an extended period.

The goal of bookkeeping cleanup is to bring the financial records up to date, rectify any inaccuracies, and establish a solid foundation for future financial management.

Clean, accurate books are the foundation for smart business decisions and stress-free tax filing.

At Fiscal Integrity Group (FIG), we understand that as a business owner, your primary focus is often on generating revenue. However, many entrepreneurs neglect the bookkeeping aspect until it's too late—waiting until year-end to sort through receipts or scrambling during tax season, leading to unnecessary headaches and stress.

Best Practices for Effective Bookkeeping

To help you stay on top of your finances and avoid last-minute chaos, consider implementing these best practices:

1. Accuracy and Organization Maintain accurate and organized records by recording transactions promptly and precisely. Keep personal and business finances completely separate. File bank statements and invoices in order and save receipts regularly.
2. Consistency and Systems Establish consistent systems by choosing an accounting method and sticking with it. Implement suitable bookkeeping software to streamline processes. Set up accounts receivable and accounts payable to ensure smooth cash flow. Follow generally accepted accounting principles (GAAP) for financial reporting.
3. Regular Monitoring and Review Stay proactive by producing monthly financial reports to track performance. Conduct quarterly reviews to assess financial health. Reconcile bank statements regularly to ensure accuracy. Evaluate financial data monthly to make informed decisions.
4. Cash Flow Management Maintain healthy cash flow by setting and enforcing payment deadlines for clients. Track expenses carefully to avoid overspending. Manage accounts payable and receivable effectively to keep cash flowing.
5. Professional Assistance Recognize when to seek help; hire professionals when bookkeeping becomes overwhelming. Consult with tax accountants throughout the year for strategic guidance.

By partnering with FIG, you can alleviate the burden of bookkeeping. We handle your financial management year-round, ensuring that your records are accurate and up to date. This allows you to concentrate on what truly matters—growing your business and maintaining a healthy work-life balance—while we take care of the numbers. Let us manage the complexities of your finances so you can focus on making money without the worry of IRS notices or missing receipts.

Don't let your bookkeeping look like this, trust FIG to handle the process