Hello, Jon Markee here, founder and CEO of MyBuilderCPA. Today, I want to discuss one of our essential features: workers' comp insurance reports. This feature is particularly useful during a workers' comp insurance audit. Here's how we manage and prepare these reports for our clients.
Keeping Your Books Accurate
Our goal is to maintain up-to-date transaction entries, book reconciliations, and financial reports every month throughout the year. By doing so, when it's time for a workers' comp insurance audit, we can easily access your QuickBooks file and generate the necessary reports for any specified date range.
Understanding Audit Dates
Insurance audits often have date ranges that don't align perfectly with the end of the month. They might start and end in the middle of the month to match your insurance policy coverage period. While we typically reconcile books at the end of each month, we ensure accuracy for any date range, even mid-month.
Running Reports
Many of our clients are capable of running their own reports in QuickBooks based on the insurance auditor's requirements. However, if you find yourself unable to generate the reports or if the auditor's request is unclear, we are here to help. It's best to notify us as soon as possible to ensure we have enough time to assist you effectively.
Timely Assistance
If you notify us only a week before your audit is due, it might be challenging to accommodate your request on short notice. However, we will make every effort to support you and ensure you have the necessary reports for your audit.
Conclusion
At MyBuilderCPA, we prioritize maintaining accurate and up-to-date financial records to simplify the process of generating workers' comp insurance reports. If you need assistance with your workers' comp insurance audit, don't hesitate to reach out to us well in advance.
Thanks for watching, and have a great day!