What Goes on a Bookkeeping Checklist?


Quick Answer

Items on a bookkeeping checklist vary according to the period covered: day, month, quarter or year. For example, on a daily bookkeeping checklist only two items are essential: cash available and tracking incoming and outgoing payments. The annual checklist is a little longer, including reviews of year-end inventory, financial reports, and all tax documents after filling them out and before passing them on to the company's accountant.

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Full Answer

The monthly checklist, which is the most extensive, includes seven essential items. Most customer invoices need to be reviewed and sent on a monthly basis to ensure prompt payment. Customer billing spreadsheets need to be updated by the end of the month to ensure quick and detailed access to customer payment history. Monthly recording of payments also ensures clarity in record-keeping.

The same process should be followed regarding bills from and payments to vendors. To ensure employee satisfaction, payroll files must be updated on a monthly basis, and to maintain the health of the company cash flow forecasts need to evaluated and adjusted. The quarterly checklist is geared toward adhering to tax regulations by making payroll, sales and income tax quarterly payments as required. It also requires keeping on top of annual estimates to make any necessary adjustments.

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