Bookkeeping Task List

Weekly or every two weeks

Enter deposits and payments
Enter payables and receivables
Pay any bills due
Enter payroll/create payroll checks
Update employee benefit information if benefits are pro-rated against actual hours worked
Deposit payroll taxes (if a semi-monthly depositor)
Mail requests for I-9's and/or certificates of insurance to new subcontractors (note on bill to hold payment against return of paperwork)

Deposit Federal payroll taxes (if a monthly depositor)
Deposit State payroll withholdings
Enter principle and interest on any loan payments
Review vendors for expired certificates of insurance and request updated information
If collecting sales tax, review resale and nontax customers for any missing or expired ST-4 or ST-5 forms and request updated information
Review A/R and create customer statements or mail reminder invoices as needed
Review A/P statements against possible missing or past due invoices to be paid
Reconcile and pay sales and/or meals tax
Reconcile all bank and credit card accounts
Create/review monthly profit and loss and balance sheet statements
Create/review monthly inventory, sales, and other reports

Prepare all quarterly payroll reports, including 941’s, WR-1’s, SUTA, etc. and pay any balance due
If FUTA exceeds the threshhold for annual filing, file and pay FUTA
Reconcile payroll liability accounts against quarterly reports
Create/review quarterly profit and loss and balance sheet statements
Create/review quarterly inventory and sales reports

Prepare all year-end payroll and vendor statements, including W-2’s, W-3’s, 1099’s, 1096’s, etc.
File and pay FUTA (form 940)
Verify and update employee withholding and address information
Review employee benefits programs/update employee information
Review vendors and services (long distance, credit cards, etc.)
Update year-end inventory and capital assets in the books
(Nonprofits only) review the status of any restricted grants; prepare reports for funding sources as necessary
(Nonprofits only) review overhead expense allocations (Administrative, Development, Program) and adjust as needed
Review company insurance coverage against inventory value, potential liabilities or increased revenue
Update form of list for your town’s ’personal property tax’
Prepare materials for workers’ comp insurance audit
Prepare materials for liability insurance audit
Review status of any owner loan accounts
Prepare materials for accountant