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Old 06-05-2013, 03:35 PM
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trial balance issuance to client/third party

Have been out of Public Practice for several years but getting back into some bookkeeping work in TN. Have a client that needs a trial balance faxed to an outside vendor. What requirement do I have as far as putting a statement with that t/b?



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Old 06-05-2013, 07:34 PM
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Originally Posted by confusedbydebt View Post
Have been out of Public Practice for several years but getting back into some bookkeeping work in TN. Have a client that needs a trial balance faxed to an outside vendor. What requirement do I have as far as putting a statement with that t/b?
I guess basically, yu need to keep track of fin. information in a spreadsheet or financial software program on an ongoing basis. When it's time for a client to publish its annual report, the bookkeeper is responsible for creating and submitting financial statements for the business. This includes an income statement, balance sheet and cash flow statement. You must maintain a record of all of the company's financial statements for each quarter and year. You must balance the company's books to ensure they match up with the company's bank accounts. You must regularly check the account to ensure that it's in positive territory and to watch for any strange activity. So, your duties include: Producing invoices; Recording sales receipts and deposit incoming cash and checks; Writing and recording checks to vendors and lenders; Recording wire, ACH and credit card payments; Reconciling bank accounts; Properly transferring money between accounts internally; Filing paper records to validate electronic data; Monitoring budget comparing to actual income and expenses; Financially keeps record of organization's assets and their accounting value. I guess you may ocntact another BK in your local area for more info in detail.



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Old 06-06-2013, 10:03 AM
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Thanks for sharing, but this is the part I do know. I was referring to "handing" a requested trial balance to my client with the possibility of them handing it to a third party. If I think that may happen, is there a statement that should accompany the t/b as does an accountant's letter with financial statements?



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Old 06-06-2013, 03:32 PM
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Originally Posted by confusedbydebt View Post
If I think that may happen, is there a statement that should accompany the t/b as does an accountant's letter with financial statements?
I do not think so UNLESS it is requested by a client. I guess you may contact a professional bookkeeper in your local area for more info in detail.



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