Account Clean-up Services

Outsource Account Clean-up Services to us and get the necessary expertise you need to keep your books and accounts in the best order.

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Helping you clean your financial clutter

While running your business is a rewarding process, account maintenance isn’t. It’s tough, tedious, and time-consuming, often leading to inaccuracies and errors. Even one missed transaction can have a ripple effect on your business.  

At KnowVisory, we offer professional account cleanup services to help businesses mitigate financial clutter. Our experts thoroughly analyze your financial records, identify discrepancies, and make them accurate, organized, and compliant with regulations. We expertly clean accounts and bring even the messiest books in order. 

Whether reconciling books, categorizing transactions, or correcting bookkeeping errors, we handle every detail to provide you with a clear financial picture of your business. Our proficient accountants carefully review every entry to ensure it is correct, unique, and posted in the right account. 

With proven experience and absolute knowledge of all the latest accounting and bookkeeping software, we recon your accounts to keep your books accurate, error-free, and on point, so that you can make critical financial decisions faster.

Our services are tailored to your unique needs and can help you stay GAAP-compliant and tax-ready.

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    Our Expertise in Numbers

    15+
    Years of Experience
    100+
    Certified Professionals
    10+
    Industry Verticals Served

    Account Cleanup and Historic Accounting Services

    Our extensive range of services keeps you covered. We offer customized solutions and services to meet all your account clean-up requirements so that you don’t have to divide your time between accurating your books and growing your business.

    Account Reconciliation Icon

    Account Reconciliation

    Ensure the accuracy and completeness of your financial records with our account reconciliation services. We reconcile (compare) your accounts with the corresponding bank statements, credit card statements, and other financial documents to avoid discrepancies, errors, and costly mistakes. Our services minimize the risk of fraud and ensure complete financial transparency and regulatory compliance.

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    Bank Reconciliation

    Our accountants facilitate hassle-free integration of your bank and credit card accounts. They review your checks, identify missing entries, and fix discrepancies to ensure there is no error in reporting the statements. They reconcile all your transactions to detect frauds, any negative financial activities, or overdrafts, if any. 

    Accounts Payable/ Receivable Services Icon

    Accounts Payable/ Receivable Services

    We offer robust AP/AR services to help you easily track unpaid invoices as well as ensure timely collection of receivables for your business. We track and fix the discrepancies in payments and highlight payments that are erroneously processed.

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    Bookkeeping Clean Up Services

    Our team uses the latest bookkeeping software to judiciously clean your books and keep them in the right order. From charting duplicate entries to scrubbing unposted historic transactions to deleting redundant account data, we do it all to declutter your accounts and provide you with excellent visibility into your financials.

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    Journal Entry Processing

    We expertly review and process your journal entries to ensure that they are accurate and recorded in the correct accounts. We even track missed transactions – sales, purchases, payments, receipts, or more – and record them in their appropriate account to help you get a clear, concise, and accurate picture of your finances.

    Flexible Engagement Models That Expertly Meet Your Business Needs

    Fully managed model Icon

    Fully managed model

    Dedicated resources working as per your project needs

    Staff Augmentation Icon

    Staff Augmentation

    We build your team; no oversight in terms of service delivery

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    Build-Operate-Transfer

    Connect, build, and transition resources for seamless operational excellence

    Software That Power Our Processes

    Our Account Clean-up Process

    We work as an extension of your team and perform a number of tasks to clean and consolidate your accounts and help you get a clear picture of your financial health.

    1

    Transaction Review

    We conduct a detailed review of all bank and credit card transactions to identify errors or omissions. Our accountants ensure that all discrepancies are corrected and appropriately recorded in the General Ledger (GL).

    2

    Bank Reconciliation

    We analyze open bank reconciliation items for validity and accuracy. The ancies are corrected and appropriately recorded in the General Ledger (GL).

    3

    Expense Categorization

    Our team then reviews the OPEX (operational expenses) and capex (capital expenditures) to ensure correct accounting treatment. They capitalize assets appropriately while expensing operational costs.

    4

    Accruals Recognition

     We review and record accruals to match expenses with the revenues they generate, ensuring compliance with accrual accounting principles.

    5

    Depreciation and Amortization

     All depreciation and amortization entries are recorded based on the expected life of the assets.

    6

    Prepaid Expense Management

    We then review your accounts to ensure that all prepaid expenses are properly recorded and amortized over the service period.

    7

    Asset and Liability Review

    Our team then validates the accurate recording of other assets and makes sure they are properly represented in financial statements. The loan agreements are also reviewed to confirm interest accruals and match loan liabilities with statements.

    8

    Intercompany Transactions

    We then cross-check intercompany transactions to ensure accurate recording by all related entities.

    9

    Balance Sheet Audit

    Our CPAs then review all asset, liability, and equity line items for proper documentation and compliance with financial standards.

    10

    Profit & Loss (P&L) Analysis

    All P&L GL accounts are scrutinized and accrual entries are suggested based on trends and financial performance.

    11

    Final Consolidation

    All adjustments are incorporated to prepare a revised Balance Sheet and Profit & Loss Account with detailed annotations. We also provide standard reconciliation statements for all Balance Sheet line items to ensure transparency.

    Connect with us and say goodbye to accounting clutter and hello to organized success.

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    The KnowVisory Advantage

    End-to-End Services Icon

    End-to-End Services

    Our bookkeeping clean up services cover everything – from recording your financial transactions to maintaining financial records, reconciling accounts, finding errors, and eliminating redundancies – so that you can spend your time and energy in growing your business.

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    Accurate Accounting

    We bring accuracy and compliance into your accounts. Our certified accountants use the latest software and their years of expertise to accurate your accounts and improve your financial decision-making prowess.

    Global Expertise Icon

    Global Expertise

    Our experts have absolute knowledge of the latest accounting standards and international taxation laws. Our global expertise help businesses stay compliant with the latest business regulations and help them expand their operation across borders with greater ease.

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    Latest Software & Technologies

    We use the latest software and solutions to reconcile your accounts, record transactions, and eliminate data discrepancies and duplicities.

    Result-Oriented Approach Icon

    Result-Oriented Approach

    Our team follows a meticulous approach to assess and clean your accounts. Our proven methodologies expedite the account reconciliation processes and bring greater efficiency to your workflows and business processes.

    Fast Turnaround Times Icon

    Fast Turnaround Times

    We leverage our operational efficiencies to quickly improve the financial health of your organization. Our time-bound services help you to manage your financials easily and stay ahead of the competition.

    Customer Testimonials

    Our clients are our brand advocates. Their success stories reflect our commitment to excellence and client satisfaction.

    Outsource Account Clean-up Services to Us

    Don't let disorganized finances hold you back. Outsource account clean-up services to us and bring clarity to your business.
    Contact Us

    Frequently Asked Questions

    What does an accounting clean up include?

    Account clean up involves reviewing and reconciling your financial records to identify and correct errors or omissions. This process typically includes: 

    • Identifying errors and omissions in transactions
    • Posting adjustment Journals
    • Checking and updating bank and credit card transactions.
    • Reviewing expense categorization and asset depreciation.
    • Correcting discrepancies in intercompany transactions and loan records.
    • Reconciling all GL accounts
    • Ensuring accurate Balance Sheet and Profit & Loss statements.
    • Providing detailed reconciliation reports for all accounts.

    What is your bookkeeping cleanup service charge?

    Our service charges vary depending on the scope and complexity of your books cleanup needs. Please check our pricing or contact us with your requirements for a customized quote.

    How long does a clean up take?

    The duration of an account clean up depends on the size of your business and the condition of your financial records. On average, it can take anywhere from a few days to a couple of weeks. Once we assess your accounts, we can provide a more accurate timeline.

    Can I clean my accounts on my own?

    While it is possible to clean your accounts on your own, it can be a time-consuming and complex task. A professional account cleanup service ensures accuracy, compliance, and efficiency. It helps you recognize and avoid costly errors that you might otherwise be making. If you're unsure about the process, it's best to rely on experts to handle it for you.

    How to fix bad bookkeeping?

    To fix bad bookkeeping, you need to regularly review and accurate your accounts, reconcile bank and credit card statements, correct misclassified transactions, record missing entries, and update depreciation, amortization, and prepaid expenses.

    Regular bookkeeping is a time-consuming process and can take up a lot of your mind space. Hiring a professional bookkeeping service provider is the most effective way to address bad bookkeeping and ensure your accounts are accurate and reliable.