General checks in the bookkeeping cleanup checklist refer to the tasks needed to ensure that the financial records are accurate and up-to-date. The following are some general checks that should be performed during bookkeeping cleanup.

• Ensure that no transactions are recorded in Suspense/Uncategorized expense.
• Consult with the accountant & remember to look for the following:
  • Misclassifications
  • Missing expenses
  • Duplicate entries
• Confirm all the expenses are recorded in their respective categories and not at the parent GL level
• Look out for expenses that are capital in nature but are incorrectly recorded as an expense (some businesses have a cap of $2,500 under capitalization policy)
• Review new accounts created in the closing period and check for duplications.
• Address outdated records: Identify any outdated records, such as old customer or vendor accounts, and remove them from your records.
• Address accruals and deferrals: If you use accrual accounting, ensure that all accruals and deferrals are accurately recorded and up-to-date. This can impact your financial statements and affect your business decisions.