Reconciled Hidden Errors and Restored Financial Accounts in Quickbooks | USA

INTRODUCTION

Mercurius’s new client provides landscaping and hardscaping services. They needed someone who could maintain accurate books of accounts for them. Mercurius being an expert in accounting services, helped them out in maintaining the accounts in QuickBooks Desktop, as per their requirements.

DISCUSSION

The client has a landscaping and hardscaping business, based in the USA. They provide various types of solutions including- landscape modeling & design, flowerbed cleanup, mulch installation, rock installation, seasonal flowers, shrub trimming, weed control, leaf cleanup, fertilization, retaining walls, landscape modeling & design, paver stone walkways, concrete driveways, sod installation, over-seeding & aeration, winter rye, residential irrigation repair, residential irrigation install.

REQUIREMENTS

The client wanted someone who could maintain their books of accounts in the QuickBooks Desktop software. The challenge, they were facing was recording invoices and payments in QBD.

SOLUTION

Mercurius provided the bookkeeping services in an accurate and organized manner. In the initial stage, we created a chart of accounts and recorded journal entries of opening balances for 2020 in QBD. We received online access to bank accounts, credit cards, service autopilot, and authorize.net. We helped the client with recording invoices and payments using the invoice import features of the QBD application. We download the invoice report from the service autopilot application and import the invoice report in the QBD application after converting the report into proper format.

In the year 2022, the client decided to change the bookkeeping software from QBD to QBO and we completed the migration of accounts for the same in April 2022.

We prepared a proper procedure to provide the solution to the client:

1. Reconcile merchant account deposits with bank deposits: We reconciled invoice payments by cross-referencing them with merchant reports and bank statements. This step ensures that deposits in the bank account matched with the deposits in the merchant account.
2. Creating invoices and recording payments: We created invoices and recorded payments of the invoices with the help of reconciliation done in the above point.
3. Categorizing and reconciling accounts: We have categorized and reconciled transactions of bank accounts and credit cards.
4. Un-deposited funds: After recording all the transactions of banks and credit cards we rectified the un-deposited fund balance in the balance sheet.
5. Providing financial reports: We provided the client with accurate financial reports including income statements, balance sheets, general ledger, and transactions list by date.

We ensured that the client’s financial records remained updated by recording and categorizing transactions carefully.

We were able to keep our client satisfied with our quality work and quick response to queries/concerns.  Thus, we are continuing to provide services for the year 2023 as well.

CONCLUSIONS

We provided bookkeeping services to the client for their landscaping business from 2020 to 2022 and sent financial reports to the client on a timely basis. We helped them in recording invoices and payments by using the invoice import feature of the QBD application. We communicate with the client via emails and have provided the client with quick responses to queries/concerns