Bookkeeping Task List
Weekly or every two weeks
- Enter deposits and payments
- Enter payables and receivables
- Pay any bills due
- Enter payroll/create payroll checks
- Deposit payroll taxes (if a semi-monthly depositor)
- Mail requests for I-9's and/or certificates of insurance to new subcontractors (note on bill to hold payments against return of paperwork)
Monthly
- Deposit Federal payroll taxes (if a monthly depositor)
- Deposit State payroll witholdings
- Enter principle and interest on any loan payments
- Review vendors for expired certificates of insurance and request updated information
- If collecting sales tax, review resale and nontax customers for any missing or expired forms and request updated information.
- Review A/R and create customer statements or mail reminder invoices as needed
- Review A/P statements against possible missing or past due invoices to be paid
- Reconcile all bank and credit card accounts
- Create/review monthly profit and loss and balance sheet statements
- Create/review monthly inventory, sales, and other reports needed per client request
Quarterly
- Prepare all quarterly payroll reports, and pay any balance due
- Create/review quarterly profit and loss and balance sheet statements
- Create/review quarterly inventory and sales reports
Annually
- Prepare all year end payroll and vendor statements, including W-2's, 1099's, 1096's etc.
- File and pay FUTA
- Verify and update employee withholding and address information
- Update year-end inventory and capital assets in the books
- (Nonprofits only) review the status of restricted grants, prepare reports for funding sources as necessary
- (Nonprofits only) review overhead expense allocations (Administrative, Development, Program) and adjust as needed
- Prepare materials for workers' comp insurance audits
- Review status of owners loan accounts
- Prepare materials for accountant
Fields in bold are required.