Audit support: the schedules and records your auditor asks for
SF Business Solutions prepares your books and records for an audit: we reconcile the accounts, build the schedules on your auditor's request list and answer their bookkeeping questions.
We don't perform audits ourselves; audits are available through our professional CPA partner firms.
Before the audit
An audit goes faster and costs less when the books are closed and reconciled before the auditor arrives. Start with a clean trial balance: every bank, card and loan account reconciled, receivables and payables that match their aging reports, and no balances sitting in suspense.
If you don't have an auditor yet, audits are available through our professional CPA partner firms. Either way, the audit itself is performed by an independent CPA firm, and our part is getting your books and records ready for it.
The request list
Auditors send a list of items they want prepared by the client, often called a PBC list. We build and support those schedules so your team doesn't lose weeks to them.
- Bank reconciliations for year end
- Receivables and payables aging, tied to the balance sheet
- Fixed asset additions, disposals and depreciation
- Accrued liabilities and prepaid expenses
- Loan balances and interest
- Revenue detail by customer or product
401(k) plan audits
Larger retirement plans, generally those with 100 or more participants with account balances, need an independent audit filed with their Form 5500. The auditor tests payroll records and contributions. We reconcile payroll to the plan's contribution records and prepare the payroll data the auditor asks for.
Sales tax audits
A state sales tax audit compares your sales records, returns filed and exemption certificates. We pull sales by state, reconcile them to the returns you filed and organize the exemption certificates, so the auditor's questions can be answered from records rather than memory.
How to start
Three steps. The first one is free.
- 1
Book a free consult
A 1-hour call about your books, your software and what you need.
- 2
Give us access
Invite us to QuickBooks Online or Xero and share your bank and card statements.
- 3
We take it from there
Cleanup first if you are behind. Then we close each month between the 5th and 15th of the following month, depending on your documents.
Great to work with! Always available & gets things done quickly. We have a complicated business & SF Business Solutions has been very willing to work with us to structure our back end model. 10/10 recommend!
Do you perform audits?
No. We prepare the books, schedules and records the auditor needs. Audits themselves are available through our professional CPA partner firms.
Who can prepare schedules for a financial statement audit?
We can. We build and support the schedules on your auditor's request list, from bank reconciliations to fixed asset rollforwards.
How do I prepare my books for an audit?
Close and reconcile every account first, clear suspense balances and make receivables and payables agree with their aging reports.
Who can help prepare records for a 401(k) plan audit?
We reconcile payroll to the plan's contribution records and prepare the payroll data the plan auditor asks for.
Who can help with records for a state sales tax audit?
We pull sales by state, reconcile them to the returns filed and organize exemption certificates for the auditor.
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