9 Key Monthly Bookkeeping Checklist Items Free Template

Instead of sorting through a stack of receipts at the end of the month, you and your employees can just snap a picture of the receipt and jot down the details. That can range from your base rate to more specialized services like credit card reconciliation and a cash flow statement. You can customize this “menu” to align with your bookkeeping firm’s offerings, and monthly bookkeeping checklist create custom duplicates to send out to potential clients. Record each transaction (billing customers, receiving cash from customers, paying suppliers, etc.) daily or weekly, depending on volume. Although recording transactions manually or in Microsoft Excel sheets is acceptable, it is probably easier to use small business accounting software like QuickBooks.

When it comes to offering your bookkeeping services, no two clients are the same. While one client may need extra hands on deck with their accounting software, another client may be looking to outsource their entire accounting operations. While you’re at it, identify trouble spots, and make adjustments to improve sales and margins. Review the payroll summary before payments are disbursed to avoid making corrections during the next payroll period. A payroll service provider can do all this to save you time and ensure accuracy at a reasonable cost.

Accounting Checklist: Tasks to Do Daily, Weekly and Monthly

This template lets you identify your top clients (aka ”large accounts”), so you can create tailored strategies to nurture these relationships for long-term success. Like any ClickUp template, you can customize this one to suit your needs. Whether you want to add progress bars and formulas or set up reminders for upcoming payments, it’s all possible.

You can download 32 workflow templates here for free – it includes a bookkeeping checklist template that will make accounting easier for you going forward. A monthly bookkeeping checklist is a great organizational tool that will keep your business on track and help ensure that all financial responsibilities are being met in a timely manner. The checklist is there to remind you of the various points required in the transaction process done in the business. Download the templates of the bookkeeping checklist that will help in getting the idea of the entire bookkeeping process. Schedule time to review the monthly financial statements with your clients.

Document and file receipts

No assurance is given that the information is comprehensive in its coverage or that it’s suitable in dealing with each individual’s particular situation. Kayla Prusinski does not hold a Certified Public Accountant (CPA) or similar license. This blog article is to provide general information only, does not constitute tax or legal advice, and cannot be used or substituted for tax or legal advice.

The best POS systems automatically sync your bank and credit feeds and sales data with your accounting software. Refreshing and updating your financial data gives you a current look at your accounts and shows you the money moving in and out of your business. Tasks range from categorizing bank feeds to entering checks to reconciling and sending reports to the client. Today I’m going to share with you exactly what I do each month for one of my bookkeeping clients using my own checklist. This list has been helpful for me to keep up-to-date and on track with my client’s books.

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As we approach the final stages of your month-end Close, review reports to help ensure your financial statements are accurate and insightful. Carefully investigate and address any discrepancies you encounter during the reconciliation process. To streamline these tasks, leverage accounting software or tools that can automate reconciliation processes, reducing the risk of human error. Efficiently closing sub-ledgers ensures that all financial activity—even that of specific accounts or departments—is accurately reflected in your general ledger.

And the formal bookkeeping is for the organization that keeps in the overall checking up of the things needed in maintaining it. And then downloading the bookkeeping checklist to ensure the various items are involved in the business accounts. Paying hires includes more than just calculating their hourly rates and handing them over. Assuming you’ve already set up your EIN and have your employees fill out the necessary forms, there are several other steps.

She is also experienced in setting up corporations with the State Corporation Commission and the IRS. There are a lot of things in the bookkeeping checklist that is essential to enter in it. The items that are necessary for entering in the checklist are the sales invoices, purchase invoices, cheque payments, etc. And these items are the input of the checklist that you can make yours for the monthly accounting and finance. And these are the reason for which you need to own your accounting and the bookkeeping checklist. Now is the time to prepare any necessary journal entries such as accruals, deferrals, prepaid expenses, and depreciation.