Monthly Bookkeeping Checklist

Document Preparation

• Gather all financial documents for the month.
• Backup your financial records and data.
• Organize receipts and invoices for easy access.

Financial Review

• Reconcile bank statements with your records.
• Verify credit card transactions and statements.

• Check accounts receivable for outstanding invoices.
• Review accounts payable and settle any outstanding bills.
• Calculate your monthly profit or loss.
• Prepare and submit any necessary tax payments.
• Schedule a meeting with your accountant if needed.
• Check for any financial discrepancies and resolve them.
• Prepare a summary report of financial activities.
• Assess any financial risks and mitigation strategies.
• Evaluate your investment portfolio if applicable.

Record Keeping

• Update your income records.Include all sources of income.
• Record all expenses and categorize them.
• Update your bookkeeping software with all transactions.

Budgeting and Planning

• Prepare and update your cash flow statement.
• Review your budget and adjust for the next month.
• Review financial goals and progress.
• Plan for upcoming financial commitments for next month.