Accounting Reconstruction Services

Accounting Task Force LLC can help you reconstruct your accounting.

The Problem

Many small businesses use unqualified or unsupervised personnel to do their books.  Often times the person preparing the books is also working on other operational tasks leaving the books at the end of their long to-do list.  This leads to accounts not being reconciled, posting to the wrong account,  posting to a profit and loss account instead of to a balance sheet account or vice versa.  All these mistakes eventually lead to inaccurate books and inaccurate books leads to overpayment or underpayment of income taxes.  Don’t expect your tax accountant to catch every mistake that your in-house bookkeeper does.

The Solution

Initial Review & Assessment

  • Review books to determine what needs to be corrected.
  • Review findings with your tax accountant.
  • Review with you the scope of work.
  • Provide a written estimate.

Accounting Reconstruction

  • Review bank, credit cards, loans, and cash reconciliations
  • Review all deposits and cash transfers between accounts
  • Review all vendor and/or client transactions
  • Review depreciation schedules
  • Reclassify transactions to the proper account
  • Reconcile all accounts against official statements

Financial Reporting & Review

  • Review new set of financial statements with tax accountant and management
  • Make final changes as needed
  • Send final set of financial statements to tax accountant and management

File Amended Returns (By Tax Accountant)

  • Prepare amended returns
  • Compare amended returns vs. filed returns
  • Review with administration the results
  • File amended returns