Workflow Templates: Weekly Bookkeeping Checklist

Categorize all new bank and credit card transactions in the accounting software.

Reconcile bank and credit card accounts against statements.

Review all transaction classifications to ensure they are recorded in the correct expense or income accounts.

Send out invoices to clients and ensure that they are accurate and complete.

Record payments received and apply them to the appropriate invoices.

Follow up on outstanding invoices and send reminders for overdue payments.

Review and enter bills from vendors and suppliers.

Schedule payments for upcoming bills and verify that all due dates are met.

Reconcile vendor statements to ensure all charges are accounted for and properly authorized.

Process payroll and ensure all employee timesheets are accurate.

Pay payroll taxes and file necessary reports with the appropriate government agencies.

Update employee records for any changes in salary, position, or personal information.

Prepare weekly cash flow statements to monitor the company's cash position.

Generate and review profit and loss statements to understand revenue and expenses.

Update budget comparisons to track actual spending against budgeted amounts.

Ensure all transactions comply with company policies and procedures.

Review internal controls for effectiveness and make adjustments as needed.

Stay updated on relevant changes in tax laws and accounting regulations.

Weekly Bookkeeping Checklist