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Make Accounting Part of Your Business’s Routine

bookkeeping checklist

Timely deposits are beneficial for maintaining cash on hand and up-to-date records. A bookkeeper should reconcile cash, bank, and credit card statements in order to manage money from all sources. Accurate records will allow you to know where you stand financially and help make decisions in a timely manner.

What is the daily routine of a bookkeeper?

Each day, you'll talk to customers, vendors and even employees within your company. You'll attend meetings and discuss reports about the finances of the business. You may make calls, write business letters or send emails. This is how you keep track of financial activity in the business.

Keep copies of all invoices sent, all cash receipts and all cash payments (cash, cheque, credit card statements, etc.). Often times we will check to see what reporting the client wants or needs. We’ll try to see if there are existing reports that need to be changed or adjusted, if any new reports need to be created, or if we need to modify the frequency of reports. While our Core Finance offering provides for monthly financial statements, some clients may need additional reporting to satisfy third parties like funders, donors, lenders, investors, or boards. As a small business owner, it is important to understand your cash flow goals. If you have yet to establish any, consider creating weekly, monthly, and annual cash flow projections.


Before you issue the W-2 double check all the payments and salaries, commissions and bonuses. Also it would be wise to check that all the information is filled out correctly such as names and Social Security numbers. Once you have confirmed that all information is accurate you can generate the W-2 form for each employee.

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It is important to keep your books updated, especially to maintain year-end accuracy. Staying on top of your books may seem overwhelming, especially in these unusual times. That’s why we’ve compiled the following list of tips, so that you can start the new year on the right foot. Adcon Business Solutions will assist in managing expenses, transactions, and record keeping in order to help your business operate smoothly. With over 20 years of experience, Reema and her team at Adcon Business Solutions are trusted by dozens of businesses to advise, assist, and design effective accounting solutions. We do this throughout Orange County, Inland Empire, LA County, San Bernardino, and the surrounding areas of California. Reema and her team can help you navigate your bookkeeping needs as you steer towards a successful future.

Pay vendors, or at least schedule bills to be paid.

Next on the bookkeeping checklist, we always see what sort of banking setup and payment systems the client is using. Different banks have different types of rules, access, procedures, notifications, system syncing and reporting. We’re also looking at how many accounts a company has and is using (savings, checking, credit card, PayPal, Stripe, etc.). More accounts leads to more complexity, and we tend to think that some banks are better than others. Just as you record any invoices sent to the client, document all customer payments as soon as the payment is received. This should take place before completing bank reconciliations and reviewing bank credit card accounts. Doing so prevents you from mistakenly contacting the client for a presumable past due or losing track of your recorded payments received.

If a non-bookkeeper or very junior bookkeeper has been doing the company’s books, we’ll make sure that there’s not overuse or misuse of various accounts. By reviewing your forecasted cash flow for the month, quarter, or even the year, you can prepare ahead of time for the months in which activity decreases. As a result, your business will plan to monthly bookkeeping checklist save the excess earnings from busier months during the height of your business to offset any financial shortcomings of your off-season. Failing to do so could cause a great rift in your finances. According to IRS Publication 15, small businesses that reported less than $50,000 or less in taxes for the last lookback period make monthly deposits.

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