Before You Start

This guide assumes you have an active Dext Precision subscription and administrator access to a QuickBooks Online or Xero client file.

Overview

40 min
Setup Time
Advanced
Difficulty
Monthly
Review Cycle

What You’ll Learn

  • How to connect client files to Dext Precision
  • Identifying common data entry errors and anomalies
  • Using Precision’s reports for targeted cleanup
  • Leveraging insights for ongoing advisory services

1. Preparation Steps

Before running your first health check, ensure these are in place:

Required Setup

  • Dext Precision Account
  • Admin access to client’s QBO/Xero
  • Initial sync of client data completed
  • Understanding of client’s business model

Key Reports to Focus On

  • Balance Sheet Anomalies
  • P&L Irregularities
  • Uncategorized Transactions
  • Duplicate Entries

2. Choosing Your Cleanup Approach

You have two main options, each with serious pros and cons.

Approach A: Manual Review & Cleanup

This traditional method involves direct review within QBO/Xero.

Pros:
  • No additional software cost.
  • Deep, transaction-level dive.
  • Suitable for very small files.
Cons:
  • Extremely time-consuming.
  • High risk of missing errors.
  • Limited comparative analysis.

Approach B: Dext Precision Analytics

This is the recommended approach for efficient, thorough cleanups.

Expert Tip: We strongly recommend using Dext Precision for any client cleanup or diagnostic work. Its AI-powered insights quickly highlight problem areas, turning hours of manual work into minutes of targeted action.

3. Step-by-Step: Using Dext Precision

Here is the high-level workflow for conducting a comprehensive GL cleanup.

Here is a sample code block to show how Dext Precision might represent a data anomaly.

{
  "anomaly_id": "BS-0012",
  "report_name": "Balance Sheet Health",
  "description": "Unexplained negative asset balance in 'Inventory' account.",
  "account_code": "1300",
  "period": "Q3 2024",
  "suggested_action": "Review inventory adjustments and cost of goods sold entries."
}

4. Key Features and Insights

  1. 1

    Balance Sheet Health Check

    Identify accounts with unusual or incorrect balances, such as negative asset or liability accounts.

  2. 2

    Profit & Loss Irregularities

    Spot inconsistencies in income and expense accounts over time, like unusual spikes or drops.

  3. 3

    Uncategorized Transactions

    Quickly find and reclassify transactions posted to suspense or uncategorized accounts, ensuring data integrity.

Important: Historical Data Accuracy

Dext Precision relies on complete historical data. Ensure your client’s file has been fully synced for an accurate and comprehensive analysis.

5. Acting on Precision’s Insights

Cleanup Action Checklist

  • Review and action all “Fix Now” items
  • Address P&L irregularities with client input
  • Reconcile bank accounts after GL adjustments
  • Generate and present clean financial reports

Need Help?

Get Support

Struggling with complex data anomalies? Our expert team can provide specialized Dext Precision cleanup services.

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