Bookkeeping for small business, in plain English.
Bookkeeping is simply keeping an accurate, up-to-date record of the money moving in and out of your business. Done steadily, it tells you whether you're profitable, keeps tax time calm, and gives your CPA what they need. Here's what it involves.
The bookkeeping rhythm
Every week
- Save receipts and invoices as they come in — a photo or PDF is fine.
- Keep business and personal spending on separate accounts and cards.
- Glance at what's been paid and what's still owed to you.
Every month
- Categorize every transaction (sales, supplies, software, contractors, and so on).
- Reconcile each bank and credit card account so your books match your statements.
- Review a profit & loss report to see what came in, what went out, and what's left.
Every quarter
- Pull tax-ready reports so estimated tax payments aren't a guess.
- Check sales-tax collected if you sell taxable products.
- Coordinate payroll records if you have employees.
At year-end
- Close out the year with every account reconciled.
- Put together a clean year-end package for your CPA.
- Gather contractor details your CPA needs for year-end filings.
Records worth keeping
- Bank and credit card statements
- Sales records from payment processors (Stripe, Square, PayPal, Shopify)
- Receipts and bills for business expenses
- Invoices you've sent and payments received
- Payroll reports, if you have employees
- Loan and major equipment purchase documents
Bookkeeping vs. taxes
A bookkeeper keeps your records organized all year; a CPA files your taxes. Clean books make the CPA's job faster — and usually cheaper. We don't file taxes, but we prepare a tidy year-end package and happily work alongside your CPA.
Behind already?
It's common. If months (or years) have piled up, a one-time cleanup project brings your QuickBooks file current before regular monthly bookkeeping starts.