Kristin Ewald

Small Business Accounting Checklist and Infographic: 21 Things to Do and When to Do Them

small business accounting

• Daily Accounting Tasks

• 1. Check Cash Position 

• Weekly Accounting Tasks

• 2. Record Transactions

• 3. Document and File Receipts

• 4. Review Unpaid Bills From Vendors 

• 5. Pay Vendors, Sign Checks

• 6. Prepare and Send Invoices

• 7. Review Projected Cash Flow

• Monthly Accounting Tasks

• 8. Balance Your Business Checkbook

• 9. Review Past-Due (“Aged”) Receivables

• 10. Analyze Inventory Status

• 11. Process or Review Payroll and Approve Tax Payments

• 12. Review Actual Profit and Loss vs. Budget and vs. Prior Years

• 13. Review Month-End Balance Sheet vs. Prior Period 

• Quarterly Accounting Tasks

• 14. Prepare/Review Revised Annual P&L Estimate

• 15. Review Quarterly Payroll Reports and Make Payments

• 16. Review Sales Tax and Make Quarterly Payments

• 17. Compute Estimated Income Tax and Make Payment

• Annual Accounting Tasks

• 18. Review Past-Due Receivables

• 19. Review Your Inventory

• 20. Fill Out IRS Forms W-2 and 1099-MISC

• 21. Review and Approve Full-Year Financial Reports and Tax Returns