The Retroactive Engagement

Custom Estimates Process For Bookkeeping Engagements

We currently charge a flat $250 service fee to go through the accounting records and to gauge the number of hours that will need to be required to complete the project at hand.  

What we do to complete this task, and what is required?

We have further dissected the estimate process into three fascets

1) Overall review – Books were professionally maintained 

-accounts are all reconciled properly

-books and records tie perfectly to the prior tax returns for the preceding year

-all QuickBooks functionality is working as it should; there were good accounting practices in place

– – we consider this a “WE REVIEW QUICK AND TAKE IT STRAIGHT TO TAX PREP MODE” type of engagement 

2) Books were not maintained optimally

 -items are missing, 

 -balances went unreconciled, 

 -minimal usage of QuickBooks functionality 

– – we consider this a “STILL ABLE TO SALVAGE (CLEANUP)” type of engagement

3) Books are in complete disarray 

 -there are many transactions, and there is no reconciliation (needle in a haystack to correct accounts) for many of the accounts involved

 -multiple QuickBooks functionalities were being utilized, and the amounts stopped working correctly, everything became a tangled fish line mess, and the accounts no longer work for accounting or tax reporting purposes

– – we consider this a “SCRAP AND RECONSTRUCT” type of engagement