Quickbooks / Bookkeeping Procedures

Your main data source is bank and credit card statements -- a high 80 to 90% of the data came from these 2 places. So, if you have captured all the data from these 2 places, you have captured most of data.

The workflow is always:

- Enter data

- Reconcile to monthly statement.
By reconciling, you verify that all data been entered and is correct.
If there are errors or omissions, they would be detected and entered/corrected in this step.

- Review financial reports.

The owner runs his business. He has the "reality check". If numbers don't look right, the owner should know it better than an outside contractor. Good financial is a team effort between the owner and the accountant/bookkeeper.