The InvoiceSherpa Blog

Essential Checklists for Small Business Accounting

Small business accounting is no walk in the park.

Especially when you’ve got a million other things to worry about when it comes to your business. There are many things to keep an eye on and many actions to take on a daily, weekly, and monthly basis.  

By giving yourself a checklist, you can ensure you don’t get overwhelmed, but also that you don’t miss a crucial step or make a big mistake. As we like to say at InvoiceSherpa, “plan the work, then work the plan” is a foolproof way to guarantee you’ll produce consistent, impactful and profitable - work every time.

To help you stay organized, we’ve created all the small business accounting checklists you need. Use these checklists every day, week, and month in order to stay on track and give yourself some peace of mind.

The Daily Small Business Accounting Checklist

Doing accounting on a daily basis may seem like a lot, but the truth is that upkeep is key.

By completing a handful of accounting tasks each day, you can save yourself a lot of time in the long run. Here’s our checklist of everything you should do for your small business’ accounting every single day, and why:

The Weekly Small Business Accounting Checklist

Make every week an amazing week by ironing out what the week’s most valuable activities should be at that point in time.

While these aren’t tasks that need to be done or checked every day, they are important to keep tabs on each week. Here’s everything you should do for your small business’ accounting every week, and why:

The Monthly Small Business Accounting Checklist

Your monthly accounting checklist is one of the most important, because it encompasses your month-end closing procedures.

At the end of each month, it is standard to go over and reconcile all of your transactions from the month, ensuring that everything is accounted for.

This process allows you to stay organized in increments, and it also allows you to create financial statements and get a good idea of your business’ financial position.

Monthly accounting processes allow you to make decisions about your business, so it’s crucial not to overlook them.

Organization is the key to small business accounting, and running your business as a whole. An organization is organization!

Using a checklist, or several, can ensure that you don’t miss small tasks that can pile up and cause a big issue.

Be sure to modify these checklists to your exact needs- every business is different. And don’t forget to check off invoice automation from your list.

Try InvoiceSherpa free for 14 days and see just how much time you can save by automating your accounts receivable.

many things to keep an eye onThe Daily Small Business Accounting ChecklistSend out invoicesThe Weekly Small Business Accounting Checklistaccounting softwarecrucial to keeping your business afloatThe Monthly Small Business Accounting Checklistmonth-end closing procedures InvoiceSherpa

Posted on January 11, 2021

Start your journey to increased cash flow today!




Try InvoiceSherpa for free