Getting Started:

Created By:
Matthew Fulton | Parkway Business Solutions | https://parkway.business | (805) 419-9197 

Overview:

Thank you for checking out Parkways New Client File Review Process. The objective of this checklist is to provide a consistent workflow through which any of our team members can evaluate the existing financial records of a potential client.

Skip Logic:

The accounting needs of every company are unique and often have various levels of complexity.  In attempt to make this survey useful across different business entities, this survey utilizes conditional logic (also known as branching or skip logic) to add additional questions related to expected services required.  Please look for questions labeled Skip Logic  to activate additional questions.

Client Write-up:

Our goal was to streamline the client write up process once the review has been completed. This was accomplished by mapping out the answers provided while completing this survey. You will find the reports under the Discovery Report Section. Be sure to check back as we add more report options including the ability to email directly to the client

Together we all Succeed!

Want a copy of this checklist? Feel free to generate a copy for personal use. To do so you will need to create a free Process.Street Account and then select the "Add to my company" option.  As of 2/15/2018 the conditional logic steps will still work on a template saved to a free account but you will not be able to edit the specialized rules.

To get started a completed by name below

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Point of Contact

Please add any additional notes below that should be displayed on the summary report.

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Company Details

Business Entity Status

Please add any additional notes below that should be displayed on the summary report.

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Accounting Details

  • 1
    QuickBooks Desktop
  • 2
    QuickBooks Online
  • 3
    Sage
  • 4
    Xero
  • 5
    Excel
  • 6
    None
  • 7
    Other

Please add any additional notes below that should be displayed on the summary report.

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Preliminary Review:

Please select from the drop down menus all of the types of documents you create within your accounting platform. Each Money In & Money Out selection that you make will open a new section of questions for you to review.

Money In: 

  • 1
    Estimates
  • 2
    Sales Orders
  • 3
    Invoices
  • 4
    Customer Payments
  • 5
    Credit Memos
  • 6
    Refunds

Money Out:

  • 1
    Purchase Orders
  • 2
    Bills
  • 3
    Bill Payments
  • 4
    Vendor Credits
  • 5
    Vendor Refunds

Payroll Processing:

Account Access Requirements:

  • 1
    Sales Tax
  • 2
    Payroll Provider
  • 3
    Merchant Processing Account
  • 4
    EDD
  • 5
    Amazon
  • 6
    EBay
  • 7
    Paypal
  • 8
    Other

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Money In:

The money in Phase of our review will focus on all of your revenue transactions.  We will need to understand how they are currently documented and how current and accurate the data appears to be. 

Estimates

Additional Notes

Sales Receipts

Invoices

Customer Payments

Merchant Processing

  • 1
    Cash
  • 2
    Paper Check
  • 3
    Electronic Check
  • 4
    Visa/MC/DB
  • 5
    Amex
  • 6
    Discover
  • 7
    Paypal
  • 8
    Financing
  • 9
    Other

Money Out:

The money in Phase of our review will focus on all of your expense transactions.  We will need to understand how they are currently documented and how current and accurate the data appears to be. 

Purchase Orders

Bills

  • 1
    Customer
  • 2
    Project
  • 3
    Class
  • 4
    Division

Bill Payments

  • 1
    Print checks from QuickBooks or QuickBooks Online
  • 2
    ACH from Bank Account
  • 3
    E-Payment or Electronic Debit
  • 4
    Charge on Credit Card
  • 5
    Cash
  • 6
    Other

Vendor Credits

  • 1
    Refund payment source
  • 2
    Store Credit
  • 3
    Not Sure
  • 4
    (Untitled Option)

Payroll:

Payroll

Payroll Information
  • 1
    Paid Time Off ( PTO)
  • 2
    Vacation Pay
  • 3
    Retirement Contributions
  • 4
    Subsidized Rent
  • 5
    Allowance ( Cell, etc)
  • 6
    Company Vehicle
  • 1
    Paper Check
  • 2
    Direct Deposit
  • 3
    Green Dot Prepaid Cards

Subcontractors and Workers Compensation

EDD

Financial Accounts to Track:

  • 1
    Primary Checking
  • 2
    Savings
  • 3
    Secondary Checking
  • 4
    Credit Card 1
  • 5
    Overdraft Protection
  • 6
    Line of Credit
App Recommendation:

 Ledgersync is a powerful accounting application that provide bookkeepers and accountants a unified dashboard to collect and review their transactions, check images and bank statements.

Vendorsync enhances the bank feed process for QuickBooks Desktop by eliminating 50% of the data entry required to assign & categorize your financial transactions.

Primary Checking Accounts

Primary Checking Account

Secondary Checking Accounts

Primary Checking Account

Savings Accounts

Primary Savings Account

Credit Card Accounts

Primary Credit Card Account

Loans

Business Loans
  • 1
    Loans from Owners | Shareholders
  • 2
    Overdraft Protection
  • 3
    Balance Transfer Loans
  • 4
    Automobile Loan
  • 5
    Merchant Processing Loan
  • 6
    Flooring
  • 7
    Business Line of Credit
  • 8
    Private Party Loan
  • 9
    Other
  • 10
    None

Accounts to Reconcile:

  • 1
    Accounts Receivable
  • 2
    Accounts Payable
  • 3
    Inventory
  • 4
    Payroll Liabilities
  • 5
    Loans

Accounts Receivable

  • 1
    Undeposited Funds have been reviewed
  • 2
    Review the A/R for prior year receivables
  • 3
    Review Unapplied Payments
App Suggestions:
Armatic is a great application to assist with a companies AR collections. They integrate with numerous accounting platforms including QuickBooks, & QuickBooks Online.

Armatic is a great application that provides much more than just accounts receivable collections. Companies looking to streamline their proposal process will appreciate their built in e-signature features, automatic late payment reminders and they large list of merchant processors to help client pay you quicker. They integrate with numerous accounting platforms including QuickBooks, & QuickBooks Online.

https://armatic.com

Accounts Payable

Accounts Payable: 

Inventory

Inventory
  • 1
    Inventory Items have proper income accounts assigned
  • 2
    Inventory Items have proper expense accounts assigned
  • 3
    Proper use of Sales Tax on Items
  • 4
    Returns are being tracked

Sales Tax

Express Login Information
Current User ID

Payroll Liabilities

Financial Reporting Review:

Profit & Loss

Balance Sheet

Accountants Notes:

Lead Accountant's Additional Notes

Secondary Accountant's Additional Notes

Discuss Findings from Discovery

Expected Challenges

Partners Discuss Findings from Discovery

Generate Project Timeline

Service Suggestions

Parkway Service Suggestions
  • 1
    Bookkeeping ( Monthly Update)
  • 2
    Bookkeeping ( Weekly Update)
  • 3
    Payroll Processing
  • 4
    Accounts Payable Services
  • 5
    Accounts Receivable Services
  • 6
    Job Cost & Project Profitability
  • 7
    Sales Tax Reporting
  • 1
    WorkFlow Design
  • 2
    Applicaiton Integration
  • 3
    Data Import | Export
  • 4
    Data Reconstruction
  • 5
    Troubleshooting
Potential 3rd Party Apps

Parkway invests a good portion of time to be "App-Aware" for our clients. To share the information we learn, we have been building out reviews for the applications on our website.  Please check out

https://parkway.business/bookkeeping-application-reviews

  • 1
    Vendorsync
  • 2
    Knowify
  • 3
    Armatic
  • 4
    Tax Planner Pro
  • 5
    Ledgersync
  • 6
    Bill.com
  • 7
    Toggl
  • 8
    CDATA Importing
  • 9
    T-Sheets
  • 10
    Google Invoice
  • 11
    Scanov
  • 12
    Backup Circle
  • 13
    Other

Discovery Report:

Select from a list of formatted reporting

  • 1
    Company Details and Contact Information
  • 2
    Summary of Findings
  • 3
    Financial Accounts
  • 4
    Transaction Reporting
  • 5
    Payroll Review
  • 6
    Send Summary by Email

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Company Details and Contact Information

Company Details

{{form.First_Name}} {{form.Last_Name}}

{{form.Company_Legal_Name}}

{{form.Phone_Number}}

{{form.Street_Address}} {{form.Street_Address_2}}, 

{{form.City}}, {{form.State}} {{form.Zipcode}}

Accounting Details:

Accounting Platform:      {{form.Accounting_Platform}}

Accounting Method:        {{form.Accounting_Method}}

Summary of Findings

Company Details

{{form.First_Name}} {{form.Last_Name}}

{{form.Company_Legal_Name}}

{{form.Phone_Number}}

{{form.Street_Address}} {{form.Street_Address_2}}, 

{{form.City}}, {{form.State}} {{form.Zipcode}}

Accounting Details:

Accounting Platform:      {{form.Accounting_Platform}}

Accounting Method:        {{form.Accounting_Method}}

Financial Accounts

Checking Account:

  • Institution:                     {{form.Checking:_Institution_Name}}
  • Last 4 Digits:                 {{form.Checking:_Last_4_Digits}}
  • Reconciliation Date:      {{form.Checking:_Reconciliation_Date}}
  • Ending Balance:            {{form.Checking:_Ending_Balance}}

Savings Account:

  • Institution:                    {{form.Savings_:Institution_Name}}
  • Last 4 Digits:                 {{form.Savings:_Last_4_Digits}}
  • Reconciliation Date:      {{form.Savings:_Reconciliation_Date}}
  • Ending Balance:            {{form.Savings:_Ending_Balance}}

Credit Cards:

  • Institution:                    {{form.Credit_Card:_Institution_Name}}
  • Last 4 Digits:                 {{form.Credit_Card:_Last_4_Digits}}
  • Reconciliation Date:      {{form.Credit_Card_Reconciliation_Date}}
  • Ending Balance:            {{form.Credit_Card:_Ending_Balance}}

Loans:

Transaction Types:

Estimates:                   {{form.Are_Estimates_being_tracked}}

Invoices:                      {{form.Are_Invoices_being_tracked}}

Sales Receipts:            {{form.Are_Sales_Receipts_being_tracked}}

Deposits:                     {{form.Are_they_receiving_Deposits}}


Purchase Orders:        {{form.Are_Purchase_Orders_being_tracked?}}

Bills:                             {{form.Are_Bills_being_tracked?}}

Bill Payments:             {{form.Are_Bill_Payments_being_tracked?}}

Vendor Credits:           {{form.Are_Vendor_Credit_being_tracked?}}

Money In Transactions:

Estimates:

Converting Estimates into Invoices: {{form.Are_they_converting_Estimates_to_Invoices}}

Closing Out declined Estimates: {{form.Are_they_closing_Estimates_if_they_being_used}}

Deposits are taken on Estimates: {{form.Are_they_receiving_Deposits_on_Estimates}}

Notes: {{form.Additional_Estimate_Notes:}}


Sales Receipts:

Notes: {{form.Additional_Sales_Receipt_Notes}}


Invoices:

Notes: {{form.Additional_Invoice_Notes:}}


Customer Payments:

Payments are linked to the Invoice being paid: {{form.Are_Payments_being_linked_to_the_invoice}}

Notes: {{form.Additional_Customer_Payment_Notes}}

Money Out Transactions:

Purchase Orders:

Partial Purchase Orders: {{form.Are_Partial_Orders_Being_Accepted_on_Purchase_Orders}}

Purchase Orders are being closed out: {{form.Are_Purchase_Orders_Being_Closed_Out}}

Purchase Orders are being linked to Bills: {{form.Are_Purchase_Orders_Being_Linked_to_Bills}}

Total Open Purchase Orders: {{form.What_is_the_total_Value_of_all_Open_Purchase_Orders}}

Notes: {{form.Additional_Purchase_Order_Notes:}}


Bills:

Transaction Type being created:{{form.Is_the_company_using_Bills,_Expenses,_Bank_Feed_Matching,_or_All}}

Billable Expenses and being used: {{form.Do_they_track_Billable_Expenses}}

Extended Terms on Bills: {{form.Do_they_have_any_extended_terms_on_their_bills_(_Net_30_or_longer)}}

Bills use the following advanced features: {{form.On_Bills_do_they_use_any_of_the_following}}

Total Open Bills: {{form.What_is_the_total_Value_of_all_Open_Bills}}

Notes: {{form.Additional_Notes_on_Bills}}


Bill Payments:

Bill Payments are linked to the bill paid: {{form.Are_Bill_Payments_being_linked_to_the_bill_in_QuickBooks_or_QuickBooks_Online?}}

Bills are paid using the following methods: {{form.How_do_they_pay_their_bills?}}

Notes: {{form.Additional_Bill_Payment_Notes:}}


Vendor Credits:

Vendors issue credits as: {{form.How_are_Vendor_Credits_Issued?}}

Notes: {{form.Additional_Vendor_Credit_Notes:}}

Payroll Processing:

Payroll Details:

Employer ID Number:         {{form.Employer_Identification_Number_(EIN)}}

Current Payroll Company:   {{form.Current_Payroll_Provider_2}}

Number of Employees:       {{form.Number_of_Employees}}

Benefits:                              {{form.What_types_of_Benefits_do_you_offer}}                     

Reconciliation Date:            {{form.Date_of_last_Payroll_Reconciliation_2}}

Payroll Liability Balance:     {{form.Current_Payroll_Liability_Balance}}

Accounts to Reconcile:

Accounts Receivable:

{{form.Additional_A/R_Comments:}}


Accounts Payable:

{{form.Additional_Accounts_Payable_Notes}}


Inventory:

{{form.Additional_Notes_about_Inventory}}


Payroll:

{{form.Additional_Notes_About_Payroll}}

Lead Accountants Notes:

Notes:

{{form.List_Additional_Question_to_ask_the_Client}}


Service Level Suggestions:

{{form.Suggested_Ongoing_Service_Offerings_2}}

Optional Services:

{{form.Additional_Services_(Copy)}}

Checklist created by:

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Revenue Transaction Review

Company Details

{{form.First_Name}} {{form.Last_Name}}

{{form.Company_Legal_Name}}

{{form.Phone_Number}}

{{form.Street_Address}} {{form.Street_Address_2}}, 

{{form.City}}, {{form.State}} {{form.Zipcode}}

Accounting Details:

Accounting Platform:      {{form.Accounting_Platform}}

Accounting Method:        {{form.Accounting_Method}}

Money In Transactions:

Estimates:

Converting Estimates into Invoices: {{form.Are_they_converting_Estimates_to_Invoices}}

Closing Out declined Estimates: {{form.Are_they_closing_Estimates_if_they_being_used}}

Deposits are taken on Estimates: {{form.Are_they_receiving_Deposits_on_Estimates}}

Notes: {{form.Additional_Estimate_Notes:}}


Sales Receipts:

Notes: {{form.Additional_Sales_Receipt_Notes}}


Invoices:

Notes: {{form.Additional_Invoice_Notes:}}


Customer Payments:

Payments are linked to the Invoice being paid: {{form.Are_Payments_being_linked_to_the_invoice}}

Notes: {{form.Additional_Customer_Payment_Notes}}

Checklist created by:

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Expense Transactions Review

Company Details

{{form.First_Name}} {{form.Last_Name}}

{{form.Company_Legal_Name}}

{{form.Phone_Number}}

{{form.Street_Address}} {{form.Street_Address_2}}, 

{{form.City}}, {{form.State}} {{form.Zipcode}}

Accounting Details:

Accounting Platform:      {{form.Accounting_Platform}}

Accounting Method:        {{form.Accounting_Method}}

Money Out Transactions:

Purchase Orders:

Partial Purchase Orders: {{form.Are_Partial_Orders_Being_Accepted_on_Purchase_Orders}}

Purchase Orders are being closed out: {{form.Are_Purchase_Orders_Being_Closed_Out}}

Purchase Orders are being linked to Bills: {{form.Are_Purchase_Orders_Being_Linked_to_Bills}}

Total Open Purchase Orders: {{form.What_is_the_total_Value_of_all_Open_Purchase_Orders}}

Notes: {{form.Additional_Purchase_Order_Notes:}}


Bills:

Transaction Type being created:{{form.Is_the_company_using_Bills,_Expenses,_Bank_Feed_Matching,_or_All}}

Billable Expenses and being used: {{form.Do_they_track_Billable_Expenses}}

Extended Terms on Bills: {{form.Do_they_have_any_extended_terms_on_their_bills_(_Net_30_or_longer)}}

Bills use the following advanced features: {{form.On_Bills_do_they_use_any_of_the_following}}

Total Open Bills: {{form.What_is_the_total_Value_of_all_Open_Bills}}

Notes: {{form.Additional_Notes_on_Bills}}


Bill Payments:

Bill Payments are linked to the bill paid: {{form.Are_Bill_Payments_being_linked_to_the_bill_in_QuickBooks_or_QuickBooks_Online?}}

Bills are paid using the following methods: {{form.How_do_they_pay_their_bills?}}

Notes: {{form.Additional_Bill_Payment_Notes:}}


Vendor Credits:

Vendors issue credits as: {{form.How_are_Vendor_Credits_Issued?}}

Notes: {{form.Additional_Vendor_Credit_Notes:}}

Checklist created by:

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Financial Accounts Review

Company Details

{{form.First_Name}} {{form.Last_Name}}

{{form.Company_Legal_Name}}

{{form.Phone_Number}}

{{form.Street_Address}} {{form.Street_Address_2}}, 

{{form.City}}, {{form.State}} {{form.Zipcode}}

Accounting Details:

Accounting Platform:      {{form.Accounting_Platform}}

Accounting Method:        {{form.Accounting_Method}}

Financial Accounts

Checking Account:

  • Institution:                     {{form.Checking:_Institution_Name}}
  • Last 4 Digits:                 {{form.Checking:_Last_4_Digits}}
  • Reconciliation Date:      {{form.Checking:_Reconciliation_Date}}
  • Ending Balance:            {{form.Checking:_Ending_Balance}}

Savings Account:

  • Institution:                    {{form.Savings_:Institution_Name}}
  • Last 4 Digits:                 {{form.Savings:_Last_4_Digits}}
  • Reconciliation Date:      {{form.Savings:_Reconciliation_Date}}
  • Ending Balance:            {{form.Savings:_Ending_Balance}}

Credit Cards:

  • Institution:                    {{form.Credit_Card:_Institution_Name}}
  • Last 4 Digits:                 {{form.Credit_Card:_Last_4_Digits}}
  • Reconciliation Date:      {{form.Credit_Card_Reconciliation_Date}}
  • Ending Balance:            {{form.Credit_Card:_Ending_Balance}}

Loans:

Checklist created by:

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Transaction Reporting

Company Details

{{form.First_Name}} {{form.Last_Name}}

{{form.Company_Legal_Name}}

{{form.Phone_Number}}

{{form.Street_Address}} {{form.Street_Address_2}}, 

{{form.City}}, {{form.State}} {{form.Zipcode}}

Accounting Details:

Accounting Platform:      {{form.Accounting_Platform}}

Accounting Method:        {{form.Accounting_Method}}

Transaction Types:

Estimates:                   {{form.Are_Estimates_being_tracked}}

Invoices:                      {{form.Are_Invoices_being_tracked}}

Sales Receipts:            {{form.Are_Sales_Receipts_being_tracked}}

Deposits:                     {{form.Are_they_receiving_Deposits}}


Purchase Orders:        {{form.Are_Purchase_Orders_being_tracked?}}

Bills:                             {{form.Are_Bills_being_tracked?}}

Bill Payments:             {{form.Are_Bill_Payments_being_tracked?}}

Vendor Credits:           {{form.Are_Vendor_Credit_being_tracked?}}

Money In Transactions:

Estimates:

Converting Estimates into Invoices: {{form.Are_they_converting_Estimates_to_Invoices}}

Closing Out declined Estimates: {{form.Are_they_closing_Estimates_if_they_being_used}}

Deposits are taken on Estimates: {{form.Are_they_receiving_Deposits_on_Estimates}}

Notes: {{form.Additional_Estimate_Notes:}}


Sales Receipts:

Notes: {{form.Additional_Sales_Receipt_Notes}}


Invoices:

Notes: {{form.Additional_Invoice_Notes:}}


Customer Payments:

Payments are linked to the Invoice being paid: {{form.Are_Payments_being_linked_to_the_invoice}}

Notes: {{form.Additional_Customer_Payment_Notes}}

Money Out Transactions:

Purchase Orders:

Partial Purchase Orders: {{form.Are_Partial_Orders_Being_Accepted_on_Purchase_Orders}}

Purchase Orders are being closed out: {{form.Are_Purchase_Orders_Being_Closed_Out}}

Purchase Orders are being linked to Bills: {{form.Are_Purchase_Orders_Being_Linked_to_Bills}}

Total Open Purchase Orders: {{form.What_is_the_total_Value_of_all_Open_Purchase_Orders}}

Notes: {{form.Additional_Purchase_Order_Notes:}}


Bills:

Transaction Type being created:{{form.Is_the_company_using_Bills,_Expenses,_Bank_Feed_Matching,_or_All}}

Billable Expenses and being used: {{form.Do_they_track_Billable_Expenses}}

Extended Terms on Bills: {{form.Do_they_have_any_extended_terms_on_their_bills_(_Net_30_or_longer)}}

Bills use the following advanced features: {{form.On_Bills_do_they_use_any_of_the_following}}

Total Open Bills: {{form.What_is_the_total_Value_of_all_Open_Bills}}

Notes: {{form.Additional_Notes_on_Bills}}


Bill Payments:

Bill Payments are linked to the bill paid: {{form.Are_Bill_Payments_being_linked_to_the_bill_in_QuickBooks_or_QuickBooks_Online?}}

Bills are paid using the following methods: {{form.How_do_they_pay_their_bills?}}

Notes: {{form.Additional_Bill_Payment_Notes:}}


Vendor Credits:

Vendors issue credits as: {{form.How_are_Vendor_Credits_Issued?}}

Notes: {{form.Additional_Vendor_Credit_Notes:}}

Checklist created by:

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Payroll Review

Payroll Reporting Notes

{{form.Company_Legal_Name}}

{{form.Phone_Number}}

{{form.Street_Address}} {{form.Street_Address_2}}, 

{{form.City}}, {{form.State}} {{form.Zipcode}}


Payroll Processing:

Payroll Details:

Employer ID Number:        {{form.California_Employer_Identification_Number}}

Current Payroll Company:   {{form.Current_Payroll_Provider_2}}

Number of Employees:      {{form.Number_of_Employees_on_Payroll}}

Benefits:                              {{form.What_types_of_Benefits_do_you_offer}}                     

Reconciliation Date:            {{form.Date_of_last_Payroll_Reconciliation_2}}

Payroll Liability Balance:     {{form.Current_Payroll_Liability_Balance}}

Checklist created by:

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

Send Summary by Email

Parkway Business Solutions | (805) 419-9197 | https://parkway.business | [email protected]

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