Small business owners, here’s a friendly reminder: staying organized and providingtimely documentation to your bookkeeper is key to financial success! As you navigatethe daily hustle of running your business, it’s easy to overlook the importance ofmaintaining tidy records. However, doing so can have a profound impact on yourbusiness’s financial health and operational efficiency.

By staying organized and promptly providing documentation to your bookkeeper,you’re not just keeping your financial house inorder—you’re empowering them toaccurately track transactions, reconcile accounts, and provide valuable insights into yourbusiness’s performance.

Timely documentation ensures that your bookkeeper has access to the most up-to-dateinformation, enabling them to make informed decisions and identify potential issuesbefore they escalate. Whether it’s receipts, invoices, bank statements, or expensereports, every piece of documentation plays a crucial role in painting a clear picture ofyour business’s financial landscape.

Remember, your bookkeeper is your trusted partner in navigating the complexities ofaccounting and financial management. By providing them with the necessarydocumentation in a timely manner, you’re setting the stage for success and fosteringacollaborative relationship built on trust and transparency.

There are several types of documentation that a bookkeeper typically needs on amonthly basis to accurately code QuickBooks transactions in a bank feed:

1. Bank Statements: Monthly bank statementsprovide a detailed record of alltransactions, including deposits, withdrawals, and fees, which are essential forreconciling accounts.
2. Check Copies:If you write checks on your business checking account,Quickbooks does not have any idea what those checks were written for or whereto code them. It is imperative that your bookkeeper can see who those checkswere written to in order to properly code them.
3. Receipts: Receipts for business expenses, such as office supplies, utilities, andtravel expenses, serve as evidence of transactions and help ensure propercategorization in QuickBooks.
4. Invoices: Customer invoices issued for sales and services rendered should beprovided to track accounts receivable and revenue accurately.
5. Bills and Vendor Invoices: Invoices received from vendors for goods or servicespurchased by the business should be provided to track accounts payable andexpenses.
6. Credit Card Statements: If the business uses credit cards for purchases, monthlycredit card statements are needed to reconcile credit card accounts and trackexpenses.
7. Payroll Reports: Detailed payroll reports, including employee wages, taxeswithheld, and employer contributions, are necessary for accurately recordingpayroll expenses.
8. Expense Reports: Any expense reports submitted by employees should beprovided to ensure proper recording of reimbursable expenses and employee reimbursements.
9. Loan and Interest Statements:Statements for loans and interest paymentsmade by the business should be provided to track loan balances and interestexpenses.
10. Asset Purchases: Documentation for asset purchases, such as equipment,vehicles, or property, should be provided to record asset acquisitions anddepreciation accurately.
11. Tax Documents: Any tax-related documents, such as quarterly taxfilings, salestax reports, and 1099 forms, should be provided to ensure compliance andaccurate recording of tax liabilities.

Providing these types of documentation to your bookkeeper on a monthly basis ensuresthat they have the necessary information toaccurately code transactions in QuickBooksand maintain reliable financial records for your business.

So, let’s make a commitment to stay organized and prioritize timely documentation.Your business—and your bookkeeper—will thank you for it!#SmallBusinessTips#FinancialOrganization #Bookkeeping #Documentation #Collaboration