BKP’G - Monthly Bookkeeping - Full Cycle QBO/Dext - October 2024

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About this template

This Bookkeeping Full Cycle workflow ensures consistent, compliant, clean QBO books. Here is a video on implementing the Bookkeeping Full Cycle template. Ensure you test it before using it on live clients, check that the roles are working for you, look at descriptions to vet for fit for your firm, and customize the automated email template and tags. https://www.loom.com/share/bda8fa4c0e9a403f951db9fb36853d90?sid=c65ca3a5-8422-4df6-9fa1-f02d72a44e73

Work type: Bookkeeping

Location: United States

Client industry: Generic

This template includes

  • 16 tasks
  • 5 client tasks
  • Automations
  • Resources
Start of Month Client Tasks Client Tasks
Automations
Upload Bank/Credit Card Statements to Dext
Upload bills, expenses, sales (created outside of QBO) to Dext
Complete all invoicing and received payments in QBO
Complete all expense reports and mileage in Dext or QBO
Record payroll that is not integrated with QBO
File Prep Tasks
Prior period payroll finalized
Bookkeeper
"Pay" and/or match prior period payroll deductions
Bookkeeper
"Pay"" and/or match prior period [TAX AGENCY] Payment
Bookkeeper
Check that all necessary documents and statements have been uploaded - again!
Bookkeeper
Mileage and expenses submitted?
Bookkeeper
Review Recats and send to QBO on transactions client has responded to
Bookkeeper
Initial run through Dext - code and publish receipts
Bookkeeper
Confirm invoicing and/or daily/weekly/monthly sales receipts posted
Bookkeeper
Bookkeeping Tasks
Automations
Publish Receipts From Dext
Bookkeeper
Ensure receipts have been coded and published
Ensure non-publishing receipts (such as bank statements) have been named correctly - check archive if they are not still in costs
Review Accounts Receivable
Bookkeeper
Add or create new invoices
Receive customer payments
Create/verify bank deposits
Review Un-deposited Funds - send list of stale payments
Run and review Accounts Payable report for anomalies
Review Accounts Payable
Bookkeeper
Post/publish bills
Post/publish expenses
Pay vendor bills and/or match in bank feeds
Run and Review AP report for anomolies
Clear Bank Feeds
Bookkeeper
Sort & filter bank account & credit card feeds
Review reconciliation accounts for "un-matched" transactions.
Match/code transactions
Code un-matched or unknown transactions to correct accounts that track to Recats
Reconcile Other Accounts
Bookkeeper
Review (reconcile) Petty Cash account
Re-code ""Shareholder Paid"" to appropriate shareholder account
Review (reconcile) Cash Drawer Payout account
Review and reconcile all clearing accounts such as payroll, transfer or AP ones
Reconcile Bank/Credit Card Accounts
Bookkeeper
Review (reconcile) Merchant account
Review (reconcile) Sales Clearing account
Initiate reconcile bank accounts - do not finalize - only reasonable ""uncleared"" transactions!
Initiate reconcilecCredit cards - do not finalize - only reasonable ""uncleared"" transactions!
Clear stale dated transactions from reconciliations
Run through all bank and credit card reconciliations and ""finish now"
Reports Review
Bookkeeper
Open/refresh AP, AR, P&L and BS
AP review, upload
AR review, upload
P&L review, upload
Verify General Ledger and statement ending balances
Balance Sheet review, upload
Manager File Review Project Activated
Bookkeeper

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