Managing your business finances can be overwhelming, but breaking it down into smaller, manageable tasks can make all the difference.

Here’s a quick guide to the essential bookkeeping tasks you should tackle monthly to keep everything running smoothly and your finances in check:

1. Make sure all your business transactions, including sales, expenses, and other activities, are accurately recorded. Keeping things up to date prevents errors down the line.

    

2. Reconcile your bank accounts regularly to catch any discrepancies or unauthorized transactions. Compare your bank statements with your own records to make sure everything matches.

    

3. Stay on top of who owes you money and what you owe. Send out invoices promptly and follow up on overdue payments while also making sure to pay your bills on time.

    

4. Check your cash flow to ensure you have enough funds for upcoming expenses. This will help you make smarter spending and investment decisions.

    

5. Organize and file all receipts, invoices, and financial documents. Having them in order will save you time during tax season or when you need to pull up information.

    

6. Run monthly reports like profit and loss statements, balance sheets, and cash flow statements to get a snapshot of your business’s financial health.
   
   

Staying on top of these monthly tasks will help keep your finances organized and make it easier to make informed business decisions.

If you need help or just want to make sure your bookkeeping is in tip-top shape, we’re here for you!

Thinking of outsourcing your bookkeeping? Or just want to ask some questions? Please contact us! 801-341-9170