She has one bank account and one credit card to keep track of. I had everything feeding into QuickBooks all year because that’s how I had it set up in the past. For this client I send a profit and loss statement each month as well as one for the past three months so he can see month-to-month how the company is doing. On the profit and loss statement, it will record the income, each employee, how much they made, and the total income for the company. What this does is give the owner more capability to see what each person is making within the firm. Before I connect them to the bank feed, I want to input each check first because it makes the process much easier.
- Once everything feeds in from the bank, I go through the ledger and make sure it matches up with the deposits.
- Then, once the check gets cashed, I see it in the QB “bank feeds” and I make sure the two match.
- I usually go into the office once a month to pick them up, otherwise they will occasionally drop them off for me.
Some bookkeepers love having a planner or an online task manager for their to-do lists, and that is perfectly fine too. I also split out the office supplies from the office software supplies. In the chart of accounts, usually these are together, but I prefer to separate them. I do this because I think of office supplies as pencils, pens, staplers, and so on, but software seems like a different category to me. This is a personal preference, but I just wanted to share what I do in case it helps clarify anything for you.
Reconcile the bank account for each month
For this client, I plan to reconcile her bank account at the beginning of the year and again at the end. This is a process in QuickBooks where you check that your records match what is in the bank. For bigger clients I would do this monthly, but for this client, just once a year is sufficient (all the months are reconciled at the same time). This client has a fairly typical set up for small businesses.
I categorized all of the expenses on both her bank account and her credit card. I usually do some client work and then some odds and ends, such as getting back to people and doing tasks for my own business. After I categorized her transactions, I pulled up her profit and loss for the year. Because this is a fairly small business, I clicked on the dollar amount in each of the categories to see what was contained in that category. I made sure everything made sense and that nothing seemed to be categorized wrong.
Inputting checks and matching them to client’s bank feed
I’ve mentioned before that I try not to deal too much with paper, but from this client in particular, I get these paper check stubs once a month. There are probably around 60 checks I need to input for him, and that is fairly typical each month. I usually go into the office once a month to pick them up, otherwise they will occasionally drop them off for me. I plan to meet up with my client after I finish reconciling her bank account to help her get the QuickBooks app set up on her phone so she is able to categorize the expenses herself. Her business is small enough that she is fully capable of doing that as a business owner.
- Throughout the morning I was working on QuickBooks Online, doing the yearly bookkeeping for one of my small clients.
- For this client I send a profit and loss statement each month as well as one for the past three months so he can see month-to-month how the company is doing.
- Some bookkeepers love having a planner or an online task manager for their to-do lists, and that is perfectly fine too.
- Have you wondered what exactly a bookkeeper does each month?
He uses a paper ledger to keep track of this and records each employee’s name, how much they made, and which client it was for. Then, once the check gets cashed, I see it in the QB “bank feeds” and I make sure the two match. This is a really great way to check that what you’ve input is correct.
Location & Hours
Throughout the morning I was working on QuickBooks Online, doing the yearly bookkeeping for one of my small clients. She doesn’t hire me every year to do her books, but she did hire me for this year and last. I’ve compiled a few days of work for you so you can get a good glimpse of how I set up my bookkeeping work. I am a busy mom, so I have learned how to be flexible with where I fit in my work based on my kids’ school and activity schedule or any other pressing momming things I need to do throughout the week. My client receives money from his own clients, but he wants to also keep track of what each employee is making per client.
Have you wondered what exactly a bookkeeper does each month? Well, in this article, I share with you my daily work-from-home schedule as a bookkeeper and go through two of my bookkeeping clients’ workloads. I’ll show you how I input checks, categorize expenses, record income, and more.
Frequently Asked Questions about Bookkeeping by Day
I’ll also show her how to use the online receipt capture to help cut down on paper clutter. This client is very technologically savvy, so I’m sure she’ll be interested in simplifying her processes this way. Once everything feeds in from the bank, I go through the ledger and make sure it matches up with the deposits. Today I wrote down everything I’m trying to accomplish in the next few hours before I pick my kids up from school.
