| 1 | Review Retained Earnings for improper entries |
| 2 | Review audit trail report for inappropriate changes, note and investigate any suspicious activity |
| 3 | Review cash balances, ensure that company is maintaining/investing proper cash levels |
| 4 | Make sure all checks have been printed and sent |
| 5 | Make sure all quotes, sales orders, and invoices have been printed and sent |
| 6 | Make sure all deposits have been deposited |
| 7 | Make sure all purchase orders have been printed and sent |
| 8 | Calculate days in AR, determine if collections are being managed properly |
| 9 | Calculate days in AP, determine if payables are being managed properly |
| 10 | Calculate days in inventory, determine if inventory levels are at or near expected levels |
| 11 | Scan Inventory reorder reports, determine whether inventory is being ordered timely and in corrrect quantities |
| 12 | Scan for duplicate vendors, customers, employees and accounts |
| 13 | Review the voided transaction report, make corrections as needed |
| 14 | Review bank reconciliation, make sure bank reconciliation was processed correctly |
| 15 | Post depreciation entries as needed |
| 16 | Post amortizations and accruals as needed |
| 17 | Print Balance Sheet to screen, spot check for accuracy |
| 18 | Print Income Statement (actual to budget) to screen, spot check for accuracy |
| 19 | Review other reports as needed |
| 20 | Move closing date forward one month |
| 21 | Print month end reports for client (use the process multiple reports feature) |
| 22 | Send client an e-mail advising them of the status of the financial statements and any key observtions |
| 23 | Schedule training session to address and correct any improper data entry practices |
There will be other measures and procedures you should take, depending upon the company, industry, locations, etc.
