![]() ![]() Each method will become unwieldy as your practice (and client list) grows. You can use pen and paper to maintain an ever-growing to-do list, or you can use spreadsheets accessible by everyone on your team. You can manage your workflow in several ways. Once you’re satisfied that they are accurate, you can send them off to your client and get to work on your next project. DeliveryĪfter finishing all the accounting, you should do a final review before sending the books to your clients. If your client has any customized reporting, you should create that as well. With all the transactions entered and the accounts reconciled, creating updated financial reports and statements for your clients is a simple process. At this point, you should also record any necessary journal entries to reclassify transactions or record non-cash transactions such as depreciation or amortization.Īll the transactions should be entered at this point, and you can reconcile the balance sheet accounts. You should incorporate the additional information you received from your client, if any was missing. Once you’ve got your hands on the missing information, you can finish up the bookkeeping by taking the following actions: When requesting information from clients, be as specific as possible to ensure they get you the information you need. Waiting for clients to get back to you with the missing information is often the slowest part of the bookkeeping process. This lets them know that you are working on their project, even if it is incomplete. If you have holes in the information, reach out to the client. Filing immediately will save you from headaches (and a mess to sort through) later. Ensuring that the source documents have been properly filed means you can access them in the future if need be. The documentation should be filed away for future reference, whether you keep your records on paper or electronically. ![]() The transactions should be reviewed for completeness, if you use automatic bank feeds. All transactions should be recorded in the client’s books or imported through direct connections from the client’s accounts into their accounting system. ![]() You should enter all the transactions and activity included in the new documentation you received. Otherwise, you will need to wait for clients to send you information (and hope they’ve sent it all). Ideally, you have access to these resources without having to ask the client for information through view access to their accounts. This data can include statements, bank fees, bills, invoices, and payroll information. Once you’ve handled the administrative tasks of responding to emails and planning your day, it’s time to get to the actual work of accounting:Īfter determining which project you are starting with, gather the new data that has come in since you last updated your client’s books. Make sure you have time free from distractions to get the work done. Remember to leave time for meetings (and transit time if you meet your clients in person). You should plan your day using the best method for you, whether this is a prioritized to-do list or time blocking. Plan Out Your Time, Including Time for Meetings and Work This should go without saying, but responding to potential new clients quickly is essential! If you send an acknowledgment email without resolving the issue, you should give the client a timeline for when they can expect a complete response. A simple email acknowledging a client's email or call can often stop you from receiving additional follow-up communication from them. One of the biggest complaints against people in the service industry is a lack of communication with clients. Respond to Inquiries and Acknowledge All Client Communications If all of your clients' books are up-to-date, then an urgent request for a financial statement can often be resolved with a quick email. Anything that is not urgent can be prioritized based on deadlines. Your first tasks should be checking your emails and voicemails for any urgent client messages. If you don’t have a daily plan, your growing list of deadlines will fly by. Plan The DayĮach day should start by planning for the rest of the day. You should make sure that your daily workflow includes the following steps. What Your Bookkeeping Daily Workflow Chart Should Include
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