Bookkeeping is much easier in small, regular steps than in one big push before a deadline. Block out an hour at the same time each month and work through this list.
1. Reconcile your bank and card accounts
Match every transaction in your accounting software to your bank and card statements. Anything you cannot explain now will be much harder to explain in a year.
2. Capture receipts and bills
Photograph or forward receipts as soon as you get them, and attach them to the matching transaction. Many apps can read the date and amount for you.
3. Check who owes you, and who you owe
- Send any invoices you have not sent yet.
- Follow up politely on invoices that are past due.
- List the bills you need to pay this month and when.
4. Set money aside for tax
Move a set percentage of your income into a separate account for tax. Your accountant can help you choose a sensible figure for your business.
5. Look at one simple report
Open your profit and loss report and compare it with last month. You do not need to analyse everything: just ask whether anything looks very different, and why.
If the routine keeps slipping, that is a good sign it is time to hand bookkeeping to someone else and spend that hour on your business instead.
This article is general information, not financial or tax advice. Dates and rules change and depend on your situation and state; check with your accountant before you act.
