LedgerProof
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The workflow

How LedgerProof works

A read-only QuickBooks connection in; a GAAP-reviewed, indexed workpaper package out. Here is every step and the full check library behind it.

The workflow, step by step

1
Connect QuickBooks Online (read-only)
Authorize a read-only OAuth connection to QuickBooks Online. LedgerProof pulls your chart of accounts, trial balance, general ledger, and transaction detail. Tokens are encrypted and the connection cannot modify your books. You can disconnect at any time.
2
Set materiality and scope the engagement
Enter overall and performance materiality, or let LedgerProof suggest a starting point from your data. Findings are scoped to what matters: items above threshold are prioritized, below-threshold items are flagged separately, and balance-tie integrity issues are surfaced regardless of size.
3
Upload off-book support (optional)
Add documents the ledger does not contain — loan agreements, lease schedules, fixed-asset registers, or prior-year workpapers. LedgerProof parses them and uses them to strengthen its review and roll-forwards.
4
Run the GAAP review
A library of GAAP-oriented procedures runs across your data. Each finding includes the affected accounts, an estimated dollar impact, a materiality classification, a confidence level, and a plain-English rationale. Where appropriate, LedgerProof drafts a suggested adjusting entry for your review.
5
Review findings and accept or reject entries
Work through findings one at a time. Accept, reject, or edit each suggested entry. Nothing posts automatically — every entry is human-gated. Your decisions and any optional write-back are recorded in the audit log.
6
Export the indexed workpaper package
Generate a locked trial balance, lead schedules by caption, reconciliations, roll-forwards, supporting schedules, and an adjusting-entries summary — indexed and cross-referenced into a package your auditor will recognize.

The check library, by area

Each procedure is heuristic and produces findings for your review — not conclusions you should rely on without professional judgment.

Cutoff

Reviews revenue and major expenses around the period end to flag transactions likely recorded in the wrong period.

Completeness & accruals

Looks for likely missing accruals — unpaid wages and payroll taxes, accrued interest, bonuses, commissions, and late-arriving invoices.

Prepaid expenses

Identifies large payments that span future periods and should be capitalized as prepaid assets and amortized over the benefit term.

Fixed assets & depreciation

Builds roll-forwards, checks capitalization against a consistent threshold, and tests depreciation against documented useful lives.

Debt classification

Splits current and long-term portions from amortization schedules and watches for covenant impacts that could reclassify a balance.

ASC 606 revenue recognition

Reviews performance obligations, allocation, and deferred revenue — especially for subscription and service businesses.

ASC 842 leases

Inventories leases and computes right-of-use assets and lease liabilities for arrangements still treated as simple rent expense.

Reserves & allowances

Checks allowance and reserve estimates and prompts for a documented methodology, inputs, and conclusion.

Classification & balance-tie integrity

Verifies that supporting schedules tie to the general ledger and that the general ledger ties to the financial statements.

Important — this is not an audit

LedgerProof is a preparation aid, not an audit, assurance engagement, GAAP-conformity opinion, or guarantee, and is not a substitute for a CPA or auditor. Findings are heuristic, may include false positives, and require your professional judgment.

Ready to try it?

Connect QuickBooks read-only and run your first GAAP review for free.

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