What is a File Check and why will it benefit your business?
We review your file against a 25 point checklist and find and highlight any errors/corrections/issues as necessary. It may be accounting related, incorrect tax codes, errors in account coding or the method in general.
FREQUENCY: File Checks – can be done on a monthly or quarterly basis – based on the amount of transactions on your file.
WHEN: BEFORE your BAS is lodged.
HOW: Once we receive a backup or access to your file we then check the transactions including account coding and tax codes, to ensure they are handled correctly. This is not an audit, we can only check on the basis of data provided.
WHY: This service is becoming increasingly popular. As you didn’t go into business to be a bookkeeper, we can’t expect you to know all the ins and outs of bookkeeping. It gives business owners piece of mind knowing that a senior, professional expert is checking over their file to ensure accuracy and avoid problems down the track. We make bookkeeping our business so you can get on with running yours!
CHANGES: If needed, we will contact you with any queries/changes that are necessary including a brief reason why. Changes will be implemented at your end allowing this service to double as a learning/training exercise. This way the person doing the bookkeeping is more likely to remember to do it the same way the following month/quarter.
NO DISRUPTION: Your file remains live at your end allowing you to keep working while we do the File Check.
- Accuracy – Your file is going to be more accurate for your accountant, saving you any unforeseen costs in corrections down the track, plus you know the reports you are looking at for your business are correct.
- Audit & BAS – Your BAS is more accurate. Should you be audited you can be confident that your data is true and correct.
- Savings – We have saved clients thousands of dollars in overlooked GST credits. Although it’s not always the case, it does happen frequently. Your accountant also spends far less time on your file at year end saving you money in the long run.
- Training – Learning as you go ensures mistakes are less likely to be repeated and both you and your accountant can enjoy clean, correct files for years to come.