Historical Cleanup
Books that hold up in diligence
For books that are behind, incomplete or on cash basis. Agents rebuild your history month by month. Your accountant reviews and signs off, so investors and auditors get books they can rely on.
What is included
Historical Cleanup at Cabot
Before any work starts
Review of the current books to create a plan to fix them
Every period
Bank, credit card, payroll and invoicing history reconciled month by month
Transactions recategorized to a chart of accounts that fits your business
Cash-basis books converted to accrual - and US GAAP applied if applicable
Revenue restated under ASC 606 where your contracts call for it
At the end
Prior years closed so late returns and extensions can be filed
Opening balances agreed and locked before your first monthly close
A written summary of what changed and why, for investors or future auditors
Who does what
Agents do the work. An accountant signs off.
The same split as every Cabot service, applied here.
Agents
Working continuously to clean up books faster
- Rebuild the transaction history from bank, credit card, payroll and invoicing data
- Recategorize transactions to the new chart of accounts
- Draft accruals, prepaids and revenue schedules for each period
- Flag gaps, missing documents and anything that looks wrong
Your accountant
Always in the loop to review and ensure quality
- Show options and trade-offs for decisions on historical cleanup
- Review each period before it is locked
- Make the judgment calls on how to treat what the agents find
- Sign off the clean periods and the opening balances
Clean books before diligence starts
Book a 15-minute call. Tell us your deadline and we’ll tell you whether the cleanup can hit it.