Download your free Accounting template to personalize and use in your bookkeeping or accounting firm

bookkeeping checklist template

Add the date and insert your e-signature once you fill in all of the fields. Click OK and add it by selecting the ✓ symbol after which save the changes. Go to the Google Chrome Web Store and add the signNow extension to your browser. Click the link to the link to the file you would like to eSign and select Open in signNow.

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  • Not only does this improve cash flow, but it also makes it more manageable for your team to chase unpaid invoices.
  • At the end of the month, those temporary account balances need to be zeroed out, or closed, so that the next period can start fresh from zero.
  • On the other hand, confirm that you’ve settled all your vendor invoices or reach out to them if need be.
  • Next, If you have any past due invoices, there is no better time to send them a reminder.

Here’s a list of common month end closing items, but we are also happy to provide you with our own best practice month end close checklist template. Then, you can customize your new, standardized month end checklist as you see fit for next month. But first, let’s talk a bit about the month-end close. This detailed workflow template outlines detailed monthly bookkeeping steps including weekly bookkeeping, bi-weekly payroll, gathering documents, adjustments, reports, and review. Schedule time to review the monthly financial statements with your clients.

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A checklist will allow you to delegate to other team members or automate with technology as your business grows. At some point, as your business grows, you may want to pass some responsibility off to another team member. A checklist makes it easy to onboard and gives them an organized list of their monthly duties.

bookkeeping checklist template

Follow our step-by-step guide on how to do paperwork without the paper. On a day-to-day basis, Bookkeepers complete data entry, collect transactions, track debits and maintain and monitor financial records. They also pay invoices, complete payroll, file tax returns and even maintain office supplies. Income statement accounts bookkeeping checklist template are used to track income and expenses during the month. At the end of the month, those temporary account balances need to be zeroed out, or closed, so that the next period can start fresh from zero. Another temporary account is used to keep track of dividends paid out over the period, and it also needs to be zeroed out.

Monthly Bookkeeping Tasks

Besides investing in useful accounting software, you can use a monthly bookkeeping checklist to ensure nothing falls through the cracks. Your team will breeze through their assignments and quickly see what’s completed. Let’s look at some tasks you can add to your monthly bookkeeping checklist that will ensure your firm is more profitable and ready for scalable growth. This monthly bookkeeping checklist template outlines the most efficient way to complete your client’s monthly bookkeeping process.

A checklist allows you to break down each task and see how each can be improved, simplified, automated or delegated. Perhaps a monthly task can be done way more efficiently using software or utilizing features of your existing software. Find out how long each task is taking you or your team each month, and find solutions to reduce that. Importance of accounting checklists Financial experts can perform accounting processes effectively when they have a system that they follow. An accounting checklist allows you to list your accounting responsibilities using an application or manually.

What are the simple bookkeeping steps?

The process of bookkeeping involves four basic steps: 1) analyzing financial transactions and assigning them to specific accounts; 2) writing original journal entries that credit and debit the appropriate accounts; 3) posting entries to ledger accounts; and 4) adjusting entries at the end of each accounting period.

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