Client Information:
Business Name and Structure (Sole Proprietor, Partnership, LLC, Corporation)
Tax Identification Number (TIN) or Business Number
Contact Information (Phone number, Email address, Business address)
Business Bank Account Details (Bank name, Account number, Online banking access)
Accounting System Used (QuickBooks, Xero, FreshBooks, Excel, etc.)
Accounting Method (Cash-based or accrual accounting)
Financial Documents:
Bank Statements (for all business accounts)
o Ensure they are up-to-date (monthly statements for the past year or more).
Credit Card Statements (if applicable)
Receipts and Invoices (for purchases, sales, and other transactions)
Payroll Records (if the client has employees)
o Paystubs, employee tax information, and deductions.
Accounts Receivable Aging Report (Outstanding client invoices)
Accounts Payable Aging Report (Outstanding vendor bills)
Loan Statements (if any loans are taken out by the business)
Tax Returns and Supporting Documents (last year’s tax return, any forms like W-2, 1099, etc.)
Revenue and Income:
Sales Invoices (Details of products/services sold)
Payment Receipts (Proof of payment received from clients)
Sales Reports (For the period being reviewed)
Expenses and Deductions:
Vendor Bills (Invoices from suppliers, utilities, etc.)
Receipts for Business Expenses (Office supplies, utilities, business-related travel, etc.)
Depreciation Schedules (For long-term assets like equipment, vehicles, etc.)
Rent and Lease Agreements (For office, building, or equipment rentals)
Business Insurance Premiums (Receipts or statements for any business insurance)
Subscription Payments (Software, memberships, or online services)
Employee Benefits and Deductions (Health insurance, pension plans, etc.)
Assets and Liabilities:
Balance Sheet (To understand assets, liabilities, and equity)
Asset Register (List of business assets, including machinery, office equipment, etc.)
Debt Schedules (Details of any business loans or liabilities)
Investment or Shareholder Reports (If applicable)
Tax and Compliance Documents:
VAT/GST Returns (If the business is registered for VAT/GST)
Payroll Tax Filings (Forms such as T4, W-2, etc.)
Quarterly or Annual Estimated Tax Payments (Proof of payments made)
Tax Deductions & Credits (Documentation for any tax-saving initiatives or deductions)
Other Documents:
Internal Financial Reports (Profit and Loss statement, Balance Sheet)
Annual Budget (If available)
Business Licenses and Permits (If applicable)
Contracts (For any large contracts or business agreements)