Monthly Bookkeeping Checklist
The secret to stress-free finances isn't doing everything perfectly – it's doing the right things consistently. A monthly bookkeeping routine doesn't just keep your records clean; it gives you the clarity you need to make smart business decisions throughout the year.
Why Monthly Matters
Monthly bookkeeping isn't just about data entry and maintaining records; it's about being in the driver's seat of your business. Regular review helps you:
- Catch and correct errors before they become a bigger problem
- Make informed business decisions based on current data
- Maintain healthy cash flow
- Stay prepared for tax time
- Spot trends and opportunities early
Your Essential Monthly Bookkeeping Checklist
1. Revenue Review (Days 1-2)
- Record all income from all sources
- Verify all customer invoices are properly recorded
- Follow up on customers with overdue invoices
2. Expense Management (Days 3-5)
- Collect and categorize all receipts
- Review recurring subscription charges
- Record payment processor fees
- Check for any missing documentation
3. Account Reconciliation (Days 5-7)
- Reconcile all bank accounts
- Reconcile credit card statements
- Connect any unmatched transactions
- Reconcile all other balance sheet accounts
4. Payroll Review (Days 8-10)
- Verify/make payroll entries
- Confirm amounts withdrawn from bank
- Check contractor payments are documented
- Ensure payroll tax deposits are scheduled
5. Financial Report Review (Days 10-12)
- Generate profit and loss statement
- Review balance sheet
- Check cash flow statement
- Compare results to previous month
- Update financial projections
Pro Tips for Monthly Success
⏰ Schedule It: Block out specific days each month for these tasks. Consistency is key!
📱 Automate What You Can: Use bank feeds, receipt scanning apps, and automated categorization.
📊 Create Templates: Build standard reports you can easily run each month.
🗂️ Document Everything: Keep notes about unusual transactions or special circumstances.
Common Pitfalls to Avoid
- Waiting until month-end to start organizing
- Mixing personal and business expenses
- Forgetting to reconcile all accounts
- Ignoring small discrepancies
Need Support?
If you're feeling overwhelmed or unsure where to start, we're here to help. Schedule a free consultation to discuss how we can help you get your books in perfect order before year-end.
Schedule a Consultation: Book a free 30-minute call
📞 Call: (214) 306-7850 📧 Email: hello@mybizbookkeeper.com
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