Even if you have an in-house bookkeeper with an eye for detail, hiring a professional agency, like ours at Balanced Bookkeeping of NC, to perform quarterly reviews is still a good idea. Here’s why quarterly reviews are important.
- Avoid run-ins with the IRS: No one likes having the IRS visit their business, and things get even more uncomfortable when they tell you that you have a mistake or discrepancy in your taxes. Our quarterly reviews can ensure that there is never a mistake left in your financial statements that could carry over to your taxes and cause issues with the IRS.
- Never miss a financial detail: Everyone makes mistakes, including your highly trained in-house bookkeeper. During our quarterly reviews, we’ll check to make sure each transaction was recorded under the correct account, expenses were marked and recorded properly, and nothing is out of place.
- Catch misconduct early on: While we are checking that everything was recorded properly in the books, we will also notify you of anything suspicious. With quarterly reviews, you will know right away whether someone has been misusing the business bank account or if they’ve been stealing from you by purposefully mis-recording expenses and transactions.
- Learn more ways to earn and save more money: Once we have completed our quarterly reviews, we will discuss the overall financial health of your company. During this time, we can answer any questions and give suggestions on what you can do to save and earn more money.
If you are interested in learning more about how quarterly reviews can help your business, give us a call today.