Account Analysis ideas?

  • 11 May 2022
  • 1 reply

Hi all! Our firm has been acquiring recent clients who need their books cleaned up quite a bit. We’re in the process of developing an accounting analysis process and am having a somewhat difficult time finding resources/inspiration. Does anyone have some thoughts/resources they’d like to share? Has anyone created their own account analysis template through Karbon? 

1 reply

Userlevel 7
Badge +19

Hi @Michaela Hunter! Welcome to the Karbon community. 😀

Are you looking for a work template, or are you looking for a way to analyze the account?

What I do to analyze accounts:

  • If they have been doing their own bookkeeping, I dump their general ledger into a spreadsheet that counts all the different types of transactions. We charge based on the number of transactions we would oversee, so not all the transactions on the GL, but all the bank transactions, etc.
  • If they are not doing any bookkeeping, I get spreadsheets of their recent bank and credit card history from all accounts and do something similar.
  • If they want to use an integrated invoice and payments system like Intuit Payments with QBO that automates payments and deposits, it’s one price, but if they want to use Stripe which doesn’t easily integrate, it’s another price.

So, with 2 or 3 months’ worth of transaction history, I extrapolate the transaction volume over the course of the cleanup period, multiply by our per-transaction cost, and then get the price.

We use GoProposal to do the math work. If you’re not using, I recommend their system, though they were just purchased by Sage, so who knows what will happen next with them.

Does that help at all?