Monthly Bookkeeping Review Tasks | Financial Cents Templates

About this template

Monthly bookkeeping/accounting review checklist

Work type: Bookkeeping

Location: United States

Client industry: Generic

Version: 1 (Latest)

This template includes

14 tasks
3 client tasks

	Client Tasks Client Tasks
	Upload your bank statements
	Upload your credit card statements
	Upload your loan statements

Client Tasks Client Tasks

Upload your bank statements

Upload your credit card statements

Upload your loan statements

	Team Tasks
	Automatically request statements from the client with the client tasks feature	Admin
	Receive statements from the client	Admin
	Bank statements
	Credit card statements
	Loan statements
	Record payroll activity for the month if required	Bookkeeper
	Make sure all transactions in bank feeds have been matched, paired, or posted	Bookkeeper
	Reconcile accounts	Bookkeeper
	Reconcile bank accounts to bank statements
	Reconcile credit card accounts to credit card statements
	Reconcile loan accounts to loan statements
	Reconcile payroll expense accounts with monthly payroll reports
	Clear Uncategorized Expenses and Uncategorized Income	Bookkeeper
	Run a detail report of the uncategorized expenses
	Change any items and categorize all you are sure of
	Send a report to the client highlighting the items you have questions on and categorize those items upon hearing back from the client
	Do the same for uncategorized income, if any
	P&L Review	Bookkeeper
	Using the accountants tools to reclassify entries review P&L accounts to see if any charges need to be reclassed for consistency
	Review for fixed assets that were expensed as office supplies, tools, small equipment, miscellaneous, etc and reclass to a fixed asset account
	If the client is reporting on the accrual basis, look for any large insurance or other prepaid items that need to be reclassed from an expense to prepaid asset account
	Pull a current month comparison P&L report and look for large changes from the prior year. Investigate and adjust as needed.
	Review A/R	Bookkeeper
	Run an outstanding invoices report and highlight all invoices that are past due.
	Send copy to client for review.
	Fix any issues for payments received and recorded outside of the A/R module
	Review A/P	Bookkeeper
	Run unpaid bills report and send list to client highlighting any amounts that are over 30 days old
	Fix any issues for bills that were paid outside the A/P module
	Pull a Balance Sheet Comparison report and look for changes in fixed assets.	Bookkeeper
	If there are a large number of fixed asset changes, or a large fixed asset purchase, send the information to the CPA/tax preparer and request a new depreciation listing. Otherwise, small changes can be taken care of on a quarterly basis.
	Look for any new loan accounts, credit card accounts, or bank accounts.
	Request information from client for any new accounts
	Create and compile financial reports	Bookkeeper
	Review accounting file & reports	Reviewer
	Close the books	Reviewer
	Upload reports to the "Client Documents" link in the resources section	Reviewer

Team Tasks

Automatically request statements from the client with the client tasks feature

Admin

Receive statements from the client

Admin

Bank statements

Credit card statements

Loan statements

Record payroll activity for the month if required

Bookkeeper

Make sure all transactions in bank feeds have been matched, paired, or posted

Bookkeeper

Reconcile accounts

Bookkeeper

Reconcile bank accounts to bank statements

Reconcile credit card accounts to credit card statements

Reconcile loan accounts to loan statements

Reconcile payroll expense accounts with monthly payroll reports

Clear Uncategorized Expenses and Uncategorized Income

Bookkeeper

Run a detail report of the uncategorized expenses

Change any items and categorize all you are sure of

Send a report to the client highlighting the items you have questions on and categorize those items upon hearing back from the client

Do the same for uncategorized income, if any

P&L Review

Bookkeeper

Using the accountants tools to reclassify entries review P&L accounts to see if any charges need to be reclassed for consistency

Review for fixed assets that were expensed as office supplies, tools, small equipment, miscellaneous, etc and reclass to a fixed asset account

If the client is reporting on the accrual basis, look for any large insurance or other prepaid items that need to be reclassed from an expense to prepaid asset account

Pull a current month comparison P&L report and look for large changes from the prior year. Investigate and adjust as needed.

Review A/R

Bookkeeper

Run an outstanding invoices report and highlight all invoices that are past due.

Send copy to client for review.

Fix any issues for payments received and recorded outside of the A/R module

Review A/P

Bookkeeper

Run unpaid bills report and send list to client highlighting any amounts that are over 30 days old

Fix any issues for bills that were paid outside the A/P module

Pull a Balance Sheet Comparison report and look for changes in fixed assets.

Bookkeeper

If there are a large number of fixed asset changes, or a large fixed asset purchase, send the information to the CPA/tax preparer and request a new depreciation listing. Otherwise, small changes can be taken care of on a quarterly basis.

Look for any new loan accounts, credit card accounts, or bank accounts.

Request information from client for any new accounts

Create and compile financial reports

Bookkeeper

Review accounting file & reports

Reviewer

Close the books

Reviewer

Upload reports to the "Client Documents" link in the resources section

Reviewer