Updated: Sep 22
There was a point in time where we kept getting this question. The client's who said this, thought we could somehow start managing their books without putting in old transactions or cleaning up the past. We understand that this is usually a lack of knowledge on how Quickbooks works.
#1 If you have loans, invoices or messed up reconciliations - these are all reasons we may need to undo the errors in the past and redo them the correct way. The only time this would be ok is if we were just starting off the year (January) and you had a new Quickbooks account. Then we don't necessarily have to "go back into the past."
#2 If taxes haven't been done and your existing Quickbooks isn't up to date, we will need to catch up from where you left off as well as fix any errors that were discovered. You and your CPA will be happy about this because they can find more deductions!
#3 Having all the financial data allows us to assess the trends of your finances. This allows us to create a strategy for the future.
One for one, once we get the full financial system in place (including our Birds Eye Budget), and the client reviews it with us, they realize how valuable it is to include all the transactions for the year or more! It shows us all the red flags, it shows us where money is ACTUALLY going (not where they guess it is) and it shows us the road map to a better money management strategy!