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Bookkeeping Checklist

We’ve put together a bookkeeping checklist for you to follow and make sure you’ve got your books together.

Have a read to learn what is involved for your bookkeeping 👇👇

Bookkeeping Checklist

Bookkeeping Checklist by Rosemary Bookkeeping

Do you want to download the checklist to print it out to stick on your wall? Click here – Download

  1. Enter sales invoices
  2. Enter purchase invoices
  3. Enter cheque payments
  4. Enter bank receipts
  5. Enter petty cash receipts
  6. Reconcile bank accounts
  7. Reconcile credit card accounts
  8. Enter prepayments and accruals journals
  9. Enter depreciation journals
  10. Enter payroll journals (if required)
  11. Enter stock journals (if required)
  12. Run VAT return (if required)
  13. Run aged debtor and aged creditor reports
  14. Run Profit & Loss statement
  15. Run Balance Sheet
  16. Check all reports for accuracy

Confused over this Checklist?

If you’re not confident in your bookkeeping ability then this checklist may just look like a lot of words and not make any sense.

There is no need to worry, that is what we do on a daily basis and we’re always here to help in any way we can.

 

Find your local bookkeeping expert here

business

Having your bookkeeping up to date is a vital part of your company’s long-term success in your business market.

With many new small businesses nowadays the owners feel like they have to do everything themselves, which includes bookkeeping.

Don’t ever feel like as a small business owner you are on your own, there are always companies willing to help with growing your business.

business

Organised Books Can Help With Business Growth

Being disorganised with your bookkeeping can make the job of maintaining positive cash flow and turning over a profit a lot more difficult.

Obviously, as a small business owner, you will want to make your life easier and not harder, so hiring a bookkeeper can sometimes be the best thing for your business.

One of the best things you can do in the current world is to start using digital tools, outsourcing to a professional, or both, which together can assist in managing tax deadlines and keeping up to date with any new government regulations, such as Making Tax Digital.

Accurate bookkeeping records lead to more in-depth and better informed financial projection and strategies, so this is definitely something that needs to be adopted for success.

Don’t Neglect Your Books

Your business’s bookkeeping is on your to-do list next month, great!

However, the majority of business owners will postpone their bookkeeping for a later date, this is a big no-no as you could miss important deadlines.

If you haven’t got long until a tax deadline and you rush your bookkeeping, mistakes will be made! This can result in incorrect tax submission, and potentially some kind of fine.

That is why hiring a bookkeeper like Rosemary Bookkeeping to keep your books on track will result in more time to grow your business.

Accurate Financial Information

An outsourced bookkeeper will always be able to provide you with efficient, accurate and up to date financial information when it’s needed for important times like quarterly board meetings or new investor meetings etc.

Another great reason for hiring an external bookkeeper is that you can save your company a bit of money!

Instead of hiring a full-time employee to complete your bookkeeping for you, an outsourced company like Rosemary Bookkeeping can be hired on a part-time basis when needed.

 

Rosemary Bookkeeping delivers an intelligent bookkeeping service to SME’s, Accountants and Franchisors ensuring a consistency of delivery and high-quality work.  Our practical, down to earth and friendly approach provides clients with information that enables them to understand and make decisions on their business, provides peace of mind that HMRC will be happy, with fair and reasonable charges.

Find your nearest Rosemary bookkeeper here.