What does “write-up” mean in terms of preparing financial statements?
The term “write-up” is used in accounting circles and means the process of preparing routine financial statements. Instead of the accountant gathering all the specific information from the client, the client summarizes the pertinent information and forwards it to the accountant. This would be information such as a current bank statement, check register, deposit or sales register, payroll reports, and any other information that pertains to the period activity. The accountant, scans the information, organizes it into the required journals and general ledger and issues a complete set of financial statements.
