Manifestly: A Checklist App for Teams

Auditing checklist

Planning

Develop a plan for the audit

Develop a timeline

Identify roles and responsibilities

Identify and obtain relevant records

Evaluation

Identify areas of potential risk

Examine and evaluate financial statements

Review internal control systems

Analyze financial data

Investigate potential irregularities

Reporting

Prepare an audit report

Document findings and recommendations

Present findings to management

Follow up on audit recommendations

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Bookkeeping and accounting checklist

Bookkeeping

Categorize all transactions

Reconcile bank accounts

Ensure all accounts are balanced

Update the general ledger

Prepare and file sales and payroll taxes

Accounting

Prepare financial statements

Analyze and interpret financial data

Identify areas of cost savings

Implement internal control procedures

Monitor financial performance

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Budgeting and forecasting checklist

Budget Preparation

Estimate revenue and expenses

Identify any one-time or special expenses

Set goals and objectives

Assign responsibilities

Analyze data and trends

Forecasting

Examine economic and industry trends

Analyze historical financial data

Identify key drivers of future performance

Assess changes in customer demand

Estimate future revenue and expenses

Budget Review and Monitoring

Review budget performance against goals and objectives

Monitor performance metrics

Track actual versus budgeted results

Adjust budget as needed

Review and revise budget on a regular basis

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Business structuring checklist

Legal Structure

Determine the business type (sole proprietorship, partnership, limited liability company, etc.)

Obtain any necessary permits or licenses

File the appropriate paperwork with the state

Obtain an Employer Identification Number (EIN)

Financial Structure

Establish a separate business bank account

Set up a bookkeeping system

Establish a budget and track expenses

Monitor cash flow

Human Resources

Determine employee needs

Develop a hiring process

Create job descriptions

Develop employee benefit plans

Technology Infrastructure

Identify hardware and software needs

Establish a backup system for data

Set up a secure network

Develop a system for online payments

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Business succession planning checklist

Business Succession Planning Checklist

Create a timeline for the succession process

Identify possible successors

Develop a succession plan

Create a job description for the successor

Train the successor

Monitor the transition

Monitor the performance of the successor

Update the succession plan annually

Evaluate the plan and make any necessary changes

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Business valuation checklist

Financial Information

Financial Statements

Tax Returns

Projected Financial Statements

Assets

Real Estate

Equipment

Intangible Assets

Inventory

Industry Analysis

Industry Trends & Outlook

Competitor Analysis

Porter’s Five Forces Model

Market Analysis

Market Size & Share

Geographic Segmentation

Demographic Segmentation

Valuation Analysis

Discounted Cash Flow

Comparable Analysis

Asset-Based Valuation

Cost-Based Valuation

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Cash flow analysis checklist

Objective

Understand the sources and uses of cash flow

Analyze the company's current cash flow

Identify potential areas of improvement

Cash Flow Sources

Sales Revenue

Investment Income

Debt Financing

Equity Financing

Borrowings

Cash Flow Uses

Operating Expenses

Capital Expenditures

Interest Payments

Dividends

Loan Repayments

Analysis

Compare cash flows from different periods

Analyze trends in cash flows

Identify potential areas of improvement

Identify potential sources of additional cash

Evaluate the company's ability to meet its current obligations

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Client onboarding checklist

Planning

Establish goals and timeline

Identify any special needs or requests from the client

Collect contact information

Schedule initial meeting

Data Collection

Gather client financial documents

Obtain tax returns

Gather prior year's financial statements

Gather any other relevant information

Analysis

Review documents

Identify areas of concern

Analyze and discuss findings with the client

Develop a plan of action

Reporting

Prepare financial statements

Prepare tax returns

Prepare other necessary reports

Provide the client with a complete set of documents

Follow-up

Monitor client progress

Provide additional support and guidance

Schedule regular review meetings

Answer any client questions or concerns

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Consulting and advisory services checklist

Initial Consultation

Engage and understand clients' needs

Identify potential business solutions

Establish project goals and duties

Define the scope of the project

Develop a timeline for completion

Planning and Execution

Create a detailed business plan

Identify the resources needed

Develop and implement strategies

Analyze the data and results

Identify potential risks

Develop a budget

Management and Oversight

Monitor progress and performance

Manage staff and other resources

Evaluate performance and results

Conduct periodic performance reviews

Provide feedback and guidance

Ensure compliance with laws and regulations

Reporting and Documentation

Prepare reports to document progress

Present findings to clients

Develop recommendations

Provide updates to clients

Generate client reports

Create project documentation

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Financial statement preparation checklist

Accounts Receivable

Verify invoices and documents

Check customer accounts

Reconcile accounts

Identify and record bad debt

Accounts Payable

Verify invoices and documents

Check vendor accounts

Reconcile accounts

Identify and record bad debt

Fixed Assets

Check assets for accuracy

Record assets on the balance sheet

Reconcile assets

Determine depreciation

Income Statement

Identify and record revenue

Identify and record expenses

Calculate net income

Balance Sheet

Identify and record assets

Identify and record liabilities

Identify and record equity

Calculate net worth

Cash Flow Statement

Identify and record cash inflows

Identify and record cash outflows

Calculate net cash flow

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Internal control checklist

Financial Reporting

Ensure accuracy of financial statements

Regularly review accounts payable and receivable

Review bank reconciliations

Maintain effective internal control environment

Accounting Records

Ensure accurate and timely recording of transactions

Ensure proper segregation of duties

Ensure proper authorization of transactions

Ensure proper coding and classification of transactions

Cash Management

Ensure proper authorization of cash disbursements

Ensure adequate safeguarding of cash

Monitor cash transactions

Accounts Receivable

Ensure accurate and timely recording of receivables

Ensure proper authorization of credit sales

Monitor aged receivables

Accounts Payable

Ensure accurate and timely recording of payables

Ensure proper authorization of purchases

Monitor aged payables

Inventory Management

Ensure accuracy of inventory records

Ensure proper authorization of inventory purchases

Monitor inventory levels

Fixed Assets

Ensure accuracy of asset records

Ensure proper authorization of asset purchases

Monitor asset utilization

Purchasing

Ensure proper authorization of purchasing activities

Monitor purchasing costs

Information Technology

Ensure security of IT systems

Ensure adequate backup of data

Monitor user access privileges

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Monthly Close Process

Pre-Close

Post final accounts receivable entries

Post final accounts payable entries

Post final employee expense/payroll entries

Post other month-end entries (as required)

Day 1

Complete depreciation journal entries

Prepare and post recurring monthly journal entries

Begin preparing nonstandard journal entries (including intercompany, if applicable)

Day 2

Post nonstandard journal entries

Close subsidiary ledgers: fixed assets, payroll, A/P, and A/R

Day 3

Post remaining intercompany transactions (if applicable)

Review to ensure intercompany balances are zeroed out and eliminated

Draft first version of financials

Conduct preliminary review of financials (soft close)

Day 4

Complete bank reconciliations and post final cash

Post revenue, cost, and tax accruals (as required)

Draft revised financials

Draft revised footnotes and disclosures

Day 5

Conduct comprehensive review of financials

Create and post final journal entries as required

Close general ledger and release financials for CFO signoff

Day 6

Release financial statements (including appropriate footnotes and disclosures)

Begin management reporting and rolling budget cycle

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Payroll services checklist

Payroll Setup

Gather relevant employee information

Ensure compliance with federal, state, and local laws

Set up payroll tax accounts

Set up employee payroll deductions

Payroll Processing

Input employee hours

Compile payroll data

Calculate payroll taxes

Generate payroll reports

Distribute paychecks and/or direct deposits

Payroll Tax Remittance and Reporting

Calculate and remit payroll taxes

File payroll tax forms

Ensure compliance with government reporting requirements

Year-end Reporting

Generate year-end tax forms

Distribute W-2 forms

Audit and Compliance

Monitor payroll processes for accuracy

Perform periodic payroll audits

Ensure compliance with relevant regulations and laws

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Risk management checklist

Risk Identification

Identify potential risks that could affect the organization

List potential external and internal risks

Assess the likelihood of the risk occurring

Identify potential consequences of the risk

Risk Analysis

Conduct a cost-benefit analysis of the risk

Identify the most significant risks

Evaluate the effectiveness of existing controls

Risk Control

Develop a plan to address the risks

Implement the risk control plan

Monitor the risk control plan

Risk Communication

Ensure all stakeholders are aware of the risks

Develop a risk communication plan

Provide training and guidance on risk management

Risk Review

Regularly review the risk management plan

Identify any areas that require improvement

Update the risk management plan to reflect changes

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Tax compliance checklist

Legal Requirements

Obtain employer identification numbers (EIN)

Stay up to date with tax laws and regulations

Ensure compliance with filing requirements

Tax Accounting

Revaluate accounting methods

Track taxable income and expenses

Monitor tax credits and deductions

Maintain accurate financial records

Tax Filing

Prepare and file taxes on time

Review tax returns for accuracy

File extensions as needed

Respond to IRS notices

Tax Payments

Make estimated payments as needed

Calculate returns

Make timely payments

Reconcile accounts

Tax Audits

Document financial records

Maintain audit logs

Respond to audit requests

Prepare for meetings with auditors

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Tax planning checklist

Tax Planning

Assess overall financial situation

Gather relevant documents

Review current tax structure

Review relevant tax laws

Analyze deductions, credits and other tax planning opportunities

Estimate taxes owed

Determine filing status

Determine tax payment options

Establish an estimated tax payment plan

Utilize tax-deferred accounts

Review and update withholding

Make any necessary adjustments to payroll

Consider tax implications of retirement planning

Consider tax implications of investments

Review charitable giving

Consult a tax advisor or accountant as needed

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Free Checklist Templates for Accounting

Auditing checklist

Planning

Evaluation

Reporting

Bookkeeping and accounting checklist

Bookkeeping

Accounting

Budgeting and forecasting checklist

Budget Preparation

Forecasting

Budget Review and Monitoring

Business structuring checklist

Legal Structure

Financial Structure

Human Resources

Technology Infrastructure

Business succession planning checklist

Business Succession Planning Checklist

Business valuation checklist

Financial Information

Assets

Industry Analysis

Market Analysis

Valuation Analysis

Cash flow analysis checklist

Objective

Cash Flow Sources

Cash Flow Uses

Analysis

Client onboarding checklist

Planning

Data Collection

Analysis

Reporting

Follow-up

Consulting and advisory services checklist

Initial Consultation

Planning and Execution

Management and Oversight

Reporting and Documentation

Financial statement preparation checklist

Accounts Receivable

Accounts Payable

Fixed Assets

Income Statement

Balance Sheet

Cash Flow Statement

Internal control checklist

Financial Reporting

Accounting Records

Cash Management

Accounts Receivable

Accounts Payable

Inventory Management

Fixed Assets

Purchasing

Information Technology

Monthly Close Process

Pre-Close

Day 1

Day 2

Day 3

Day 4

Day 5

Day 6

Payroll services checklist

Payroll Setup

Payroll Processing

Payroll Tax Remittance and Reporting

Year-end Reporting

Audit and Compliance

Risk management checklist

Risk Identification

Risk Analysis

Risk Control

Risk Communication

Risk Review

Tax compliance checklist

Legal Requirements