Accounting Remediation
Accounting Clean-Up & Tax Remediation
Accounting clean-up and accountant-transition support for historical balances, unreconciled accounts, myDATA differences, tax open items and clean opening balances.
The challenge
Reliable reporting cannot be built on unreconciled books.
We always start with a diagnostic to understand what is actually in the books. We then organise reconciliations, correcting entries, documentation gaps and remediation actions.
Scope
What it may include
- Opening-balance review
- Bank, AR and AP reconciliations
- Partner and director accounts
- VAT and myDATA reconciliation
- Fixed assets
- Books-to-returns reconciliation
- Correcting-entries schedule
- Missing-documentation list
- Evaluation of corrective filings
Best suited to
Deliverables
Exact deliverables are agreed in the proposal and tailored to the actual case.
Best suited to
- Accountant change
- Old unreconciled balances
- myDATA or VAT differences
- Finance-system transition
What we deliver.
- Accounting Records Diagnostic
- Open Items Register
- Reconciliation Pack
- Correcting Entries Schedule
- Tax Exposure Summary
- Clean Opening Balance
Related services
Related areas that may be relevant.
The right path depends on the stage and complexity of the business.
Looma Brief: Changing Accountant
What a business should receive and review so the new accounting engagement starts from a clean base.
Let’s look at what your business needs.
Tell us where your business stands today and what you need to organise. We will suggest a practical next step with a clearly defined scope.