Daily, Weekly, and Monthly Bookkeeping Checklists

Staying on top of your business’s financial records is critical, but can feel overwhelming. Creating checklists to systematize your bookkeeping activities can make the task more manageable.

Here are some bookkeeping best practices to incorporate into your regular routine:

Daily Bookkeeping:

• Enter any income received into your accounting system
• Record all expenses in your ledger, including total amounts and categories
• Match receipts to entries for expenses
• Reconcile credit card and bank statements
• Pay outstanding bills

Weekly Bookkeeping:

• Review income and expenses to identify any abnormalities
• Perform account reconciliations
• Send invoices to clients with outstanding balances
• Follow up on any unpaid customer invoices
• Pay sales tax if required in your state

Monthly Bookkeeping:

• Compare monthly income and expenses to your budget
• Calculate and review key metrics like profitability, burn rate, etc.
• Reconcile balance sheet accounts like A/R, A/P, inventory, etc.
• Send late payment reminders and follow up on delinquent accounts
• Prepare and send 1099s to contractors (end of year)
• Submit sales tax filings if required in your state

Implementing consistent bookkeeping routines makes staying on top of your finances much more manageable. As your bookkeeping needs grow, consider partnering with an expert. I work with business owners to customize bookkeeping and provide training at any level, from beginner to advanced.

Let’s connect to discuss how I can support your financial management!