Bookkeeping Checklist for Creative Entrepreneurs
I work with a lot of creative, service-based business owners. Why? Because for many of you, working with numbers juuuust might be your least favorite thing 😉 The numbers seem overwhelming, boring, stressful, tedious, you name it (any descriptors you'd add to that list?).
But here's the thing: whether you like it or not, they still have to be taken care of if you want to run a successful business. That's where I come in. Luckily for you, I love all things numbers-related! I also love keeping things SIMPLE for you to understand and manage. So today I'm sharing a bookkeeping checklist of things you can do in your biz to stay on top of your finances (there's almost nothing worse than getting to December or January and realizing... you have to do bookkeeping for the ENTIRE year all at once).
Weekly
Save receipts to google drive folder
Review client billing
Record transactions (either spreadsheet or through QBO/Xero)
Monthly
Reconcile ALL your accounts
Pull your Profit & Loss and Balance Sheet to review
Look over budget/projections for next month
Pay yourself (this can be done on a schedule that best fits you. Either weekly, biweekly, monthly)
Set aside funds for estimated taxes (I recommend 20-30% of profits)
Quarterly
Review overall yearly budget/projections
Compare current quarter to previous quarter
Pay estimated taxes
Check in on financial goals (both personal and business)
Yearly
Review Profit & Loss and Balance Sheet
Review payroll accounts. Make sure they tie out
Compare actual to projected numbers
Send final reports over to CPA
Hopefully you found this checklist helpful! Anything on here you haven't thought to do - but that you're gonna start doing now?? 😉 Again, put it as a non-negotiable on your calendar. Set aside the time to sit down with your books so you know where your finances are at. If you have any questions or want our support so you don't have to do this yourself, feel free to reach out. We offer single strategy sessions if you’re not ready for monthly, as well as resources to help you do it yourself in our Marketplace! We even have a simple, Monthly Bookkeeping Checklist (complete with instructional videos) for only $7!
