Account review, how does it work?

If it consists of verifying and justifying all the items of account in the profit and loss account and the balance sheet , various missions await the person (s) in charge of them:

The balance of suspense accounts (accounts 471 to 475). The amounts they contain are identified and re-allocated to the correct accounts

The justification of cash accounts . They must be justified and reconciled with the extracts produced on the same date . For bank accounts, the accounting balance is reconciled with that of the corresponding bank statement

The justification of accounts receivable and suppliers . The balances of the general statements must be reconciled with those of the auxiliary statements and then the lettering (reconciliation of customer invoices / suppliers and their settlement). Invoices not yet received or to be drawn up may then be entered in the accounts

The justification of the social and fiscal accounts . A reconciliation with the corresponding social statements and declarations is to be carried out

The audit of the accounts of classes 6 and 7 consists of the verification of the attachment of expenses and income to the financial year. The different ratios can then be compared from one year to the next or with those of rival firms.