Bank Requested Financial Statement Preparation

The COVID-19 pandemic has been such a tragic and difficult time for many Small Businesses. Running a business comes with many expenses such as supplies, overhead and even payroll that businesses just could not afford. The supply chains became short staffed causing the cost of goods to go up exponentially.   In addition, the mask mandates and quarantines left many businesses empty of paying customers. To combat this, there were several resources available for small businesses such as the Payment Protection Program (PPP) as well as the Economic Injury Disaster Loan (EIDL) loan. Due to this, Banks are now requesting financial statements from Small Businesses that have received funding from these programs.

Though they were great resources, this has put many small businesses into a compliance minefield!  It is not easy to keep clean books throughout the year, especially when in crisis mode. Bank requested financial statements can be for other numerous reasons such as requesting large lines-of-credit and financing loans. The great news is, we are here to help! Accounting Lifeline offers QuickBooks Clean Up and Catch Up services to small businesses to help them get financial clarity and be confident in the numbers they are reporting.

How do we do it?

To begin, we will have 2 meetings to get to know each other and discover how we can help your business. From there, we will do a deep dive into your books and create a tasking list and a timeline to be able to get you back to squeaky clean books and visibility! You can leave all the dirty clean up to us and just sit back.
If you would like to get started, click below to schedule the initial meeting with us!


To learn more about financial statements, check out this article.