Getting audited sucks! We know; we’ve seen businesses small and large shake in their boots when the officials come and ask them hundreds of questions about their financial records and decisions. Of course, this doesn’t have to be the case. Businesses who trust a professional and knowledgeable bookkeeper, to do the legwork and make sure their financial books are properly updated regularly, don’t have a thing to worry about.
It’s the businesses that are not knowledgeable about bookkeeping, who keep untidy and incomplete records, or the businesses that have hired an inexperienced bookkeeper to do the work, that will have trouble with an official audit. So, what if you’re not sure if you’ve been keeping your financial records properly, for years, or maybe you’re not sure that the person you’ve hired has been keeping your financial records accurately, what do you do then?
You can hire an experienced professional bookkeeper to look over your books, talk you through the financial decisions you’ve made that would be questioned or would bring up red flags for official auditors, and even speak with your bookkeeper to see how he or she has handled the books. Auditing yourself in this manner is easy, and it will help you solve errors and issues in your books before anyone else sees them, especially an inquisitive official auditor (you’ll avoid any real trouble that you could get into if you were to be audited without knowing!). It can also give you a more objective view of your finances, and financial recordings.
We do this all the time; we are hired to check the work of businesses that want to regularly do their own bookkeeping, and we guide them in doing this correctly. We also check the work of other bookkeepers to make sure they’ve not made errors.
Unfortunately, way too often we find critical errors in business books that should be brought to the attention of the business owner, even mistakes made by bookkeepers. If you have even a hint of a suspicious that your books need to be looked at for clarity, you’re probably right. Feel free to contact us for more information about the types of errors we find in books; send us an email!