Integrates with:
Start automating your bank reconciliations today
CONNECT YOUR COMPANY’S QUICKBOOKS TO EQUILITY
Equility compares your company’s Quickbooks data to your bank statement to find discrepancies or errant transactions.
SIGN UP FOR EQUILITY
Create an account by using your email and choosing a password. No credit card required.
DOWNLOAD THE PLUG-IN
Make sure the Equility Chrome plug-in is installed on your browser.
Then put your financial review on auto-pilot with Equility
Account Reconciliations
All accounts need to be reconciled through the close date and all uncleared transactions have been flagged for review.
Depreciation & Amortization
Depreciation & amortization expense during the review period need to equal the summation of the accumulated depreciation and amortization during this period.
Undeposited Funds
Make sure that this balance is accurate and that you did not forget to mark customer checks as deposited into the proper bank account.
Liabilities
If you’re reviewing a non-profit, then you need to make sure that they are not utilizing the ‘Shareholder Notes Payable’ account, as there are no actual shareholders.
Opening Balance Equity
This account shows the opening balance on bank/credit card accounts when they are linked to QuickBooks Online. These entries need to be reallocated to the appropriate GL account.
Assets
If you’re reviewing a non-profit, then you need to make sure that they are not utilizing the ‘loans to Shareholders’ account, as there are no actual shareholders.
Uncategorized Transactions
Clearing accounts need to equal $0.00 when the books are closed. Confirm the details of these transactions with your clients or reference source documents.
Equity Allocations
Different business entities have different rules. Make sure that C-Corps aren’t using ‘Owner’s Draw’ and that partnerships do not have ‘Common Stock’.
Payroll Regulations
Per IRS guidelines, if the owner(s) of an S-Corp are actively involved in the business, then you need to make sure that they are paying themselves a reasonable salary.
All designed with financial professionals top-of-mind
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Bookkeepers
Minimize the time spent on your account reconciliations.
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Accounting Firms
Streamline your monthly close tasks with our compliance check.
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Auditing Firms
Save time gathering audit-related workpapers and documents.
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Venture Capitalists
Decrease the time spent on financial due diligence.
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Banking & Lending
Automatically verify the accuracy of presented financial statements.
Jeff Chadwick, Chadwick Creative
“Equility’s bank reconciliation wizard turned a messy, hour-long process of reconciling my business accounts into an automated, 5-minute solution.”
Lisa Culverwell, Miss Elsie’s Bookkeeping
“Where has this been all my life!”
ONE CLICK TO FINANCIAL ACCURACY
TIME-SAVING
SECURE LOGIN
Equility is built for financial professionals to streamline and automate the financial review process.
As seasoned accounting professionals, we empathized with the frustrations of the repetitive and labor-intensive monthly financial statement reviews. The exhaustive efforts required to maintain financial accuracy for our valued clients left us yearning for a more efficient solution. Frustratingly, existing technology solutions fell short in addressing our needs. Thus, Equility was born.
Equility emerged from our desire to streamline these processes through automation. Witnessing the transformative impact of Equility within our own firm, we recognized the broader potential to benefit our fellow financial professionals and business owners.
Today, Equility stands as the go-to tool for automating the financial review process and effortlessly verifying financial statement accuracy with a single click.
Want to see how Equility can save you time on your financial review?
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Get In Touch
If you’re interested in a product demo or learning more about Equility, please fill out the information below, or email us at hello@equilityhq.com.