Oneir Solutions Inc provides all the tools required to make your business more streamline and competitive. This includes your Year-End Closing and Corporate Tax Returns preparation. Of equal importance is that the preparation of your returns provides an opportunity to review the performance of the business during the past year.
Depending on your reporting requirements, there are three levels of engagement that you can have with your auditor (CPA). The three general levels of financial statement service are audit, review and completion. You and your auditor need to discuss the level of service required prior to commencement of the audit.
In their Publication entitled “Audit, Review and Compilation: How CPA Reports Differ”, Gelman, Rosenberg & Freeman, Certified Public Accountants, discuss the various audit options. This article can be found at http://www.grfcpa.com/resources/publications/audit-review-and-compilation/
Keeping up to date with your postings is easy with Oneir Solutions ERP software. As sales are made, cash payments are received, expenses and payables are recorded, disbursements and payroll are charged, the postings go directly to your financial records…even your miscellaneous postings are recorded here with a fully detailed audit trail.
The checklist outlined below presents areas for review at Year-End. Note that it is highly recommended to carry out many of these reviews during your Month-End and some, such as credit card and bank account review more routinely.
Here is the checklist of the most common accounting to-dos for the year-end. Whether you work with a CPA, bookkeeper, or just DIY, this checklist should help get your financials ready. And remember no matter what level of service you require from your auditor, the more you can prepare, the easier the process will be when your CPA’s is on-site.
