As a small business keeping up to date with your bookkeeping is vital to controlling your finances. Here is my Month End checklist to help you
✨ Make sure all invoices and bills are entered into your accounting software. Go through your email for any online purchases you may have made this month and your wallet for paper receipts This will make the nice next step easier.
✨ Reconcile your bank account. By looking at each transaction that goes through your bank account you will have a strong understanding of your cash position
✨ Review your Creditors. Who do you owe money to? Have you missed a payment to a fellow freelancer why not pay it now!
✨ Review your Debtors. Who owes you money? Who hasn’t paid you yet? Who do you need to chase for payment? Now is a good time to send out Statements to your clients especially if they are overdue
✨ Have you claimed everything? Did you use your personal card for that one time you got the bus to visit a client, what about your mileage for the month
✨ Review your Profit and Loss account. Once you have done all of the about take a look at your P&L and this will give a good indication how your business is going.
If you are ready to let someone else handle your bookkeeping, why not book a discovery call and see how we can help you