01
A plain-English read on where you stand
One paragraph on what is working and what is not, then every check scored across your balance sheet and P&L. Businesses come back mixed, which is the point: you find out which parts are fine and which need attention.
Your review
May 2025 to May 2026
Your statements are balanced and equity is positive, but several balances and revenue entries look misclassified or stale, which makes performance hard to interpret and could worry lenders.
Balance integrity
2 PASS
1 FAIL
Liabilities & debt structure
1 PASS
2 FAIL
Revenue & cost classification
1 PASS
2 FAIL
Expense management & quality
3 PASS
Data quality & cleanliness
2 PASS
1 FAIL
Balance integrity
FAIL
Negative asset or liability balances
EXCELLENT
Statements are balanced
Liabilities & debt structure
FAIL
Loans change over time
EXCELLENT
Long-term liabilities matched
Data quality & cleanliness
EXCELLENT
Dates consistent across reports
FAIL
Stale balances
02
Named findings, not a mystery score
Every check either passes or fails by name, grouped the way an accountant would group it. No grade out of a hundred that you have to interpret.
Open any failure and you get the diagnosis, the context, and the fix.
03
A plan in order of what matters
Findings turn into numbered actions with a timeframe on each one. Written so your bookkeeper can work from it directly, or so you can bring it into a call already knowing what needs fixing.
Actions
Action 1
This week: Reclassify the November Other Income balance so the main Income line is not negative.
Action 2
This week: Rebuild the November P&L with explicit Revenue and Cost of Goods Sold lines.
Action 3
Within 2 weeks: Separate accumulated depreciation so fixed assets show a normal positive cost.
Health summary
A clear read across P&L, balance sheet, and chart of accounts.
Pass / fail rules
Named findings, not a generic score or mystery grade.
Plain English
What failed, why it matters, and what it means for your business.
Action plan
A prioritized list: this week, within 30 days, ongoing.
1
Create a free review account
2
Connect QuickBooks or upload your financials
3
Review your findings and action plan
Check your books for free.
Run the review first. If it surfaces issues, Bags is the team that can fix them. If it doesn’t, you’ve got that in writing.
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