Advice on how to proceed with cleanup
Tldr: Try to fix or start over from scratch?
I recently started doing work on the side for 2 chartered accountants that I know. I mainly handle the data entry, the recons etc. Everything right on to where the CA would take over and do the FS.
There’s this new client who has the worst books I’ve ever seen. He does the work himself (I refuse to call it accounting). Everything is wrong. All the recons are out, 287 uncleared transactions carrying from 2022, misclassification of expenses, loans, assets etc. He has also NEVER filed taxes since the business was incorporated in 2021 and started trading in 2023.
After reviewing the QBO file the CA asked me what I think and I told him I don’t think it will be worth it for me to start this project, he told me the owner will pay what ever he asks for.
The advice I am seeking relates to trying to untangle what he did and make it make sense for the CA, or do we just start a new file and redo everything from scratch.