Review Income Statement & Balance Sheet

Ty Fujimura

After reconciling and validating the invoices, these two documents should be accurate and clean.

When reviewing the income statement for accuracy, consider whether any categories with no/low values are correct. There may be a mistake somewhere.

If any values show dramatically higher than a prior month, consider that as well.

In the balance sheet, ensure that old/erroneous accounts are not popping back in to the balance sheet. This indicates that a recent transaction was coded to an account that may no longer be in use.