The challenge
- The opening balance is not reliable.
- Books, tax returns and myDATA do not fully reconcile.
- Management reporting cannot start from a clean base.
Representative Capability Case
A clean transition after changing accountant
An SME is changing accountant with old balances, unreconciled bank accounts, myDATA discrepancies and partner/director accounts without clear supporting documentation.
The Looma approach
- Accounting Records Diagnostic.
- Bank, AR/AP, tax-account and fixed-asset reconciliations.
- Correcting entries, missing-document list and stabilisation plan.
The value of the structure
Accounting Clean-Up & Tax Remediation
The new accounting cycle starts with supported opening balances, a clear open-items register and a defined remediation plan.