Why You Need To Keep Open Communication With Your Bookkeeper

Your bookkeeper/accountant should be one of the people you most frequently are in contact with, whether it’s making a phone call, sending an email, or sitting one-on-one. It’s vital you communicate the ins and outs of your business on a regular basis - we’d like to say daily, but we know weekly is more realistic. Your bookkeeper can’t do their job if you aren’t constantly keeping them updated with receipts, new employee payroll information, and beyond. The question is: what information should you be relaying?

We compiled a list of the components of your business that you should be communicating with your bookkeeper. Keep in mind: if you’re not sure if you should share the information or not, simply ask. The following should be communicated on a regular basis:

expense receipts including internet receipts – these should be sorted by source of payment: bank, credit card, business cash, and personal funds
documents pertaining to the purchase, major repair, or sale of capital assets
documents pertaining to lease agreements, financial loans, insurance or any contracts you have entered into
investment statements, bank statements including deposit slips and returned checks, credit card statements including card payment slips, vendor statements
a listing of all pre-authorized direct deposits and withdrawals on your bank and credit card statements
vendor/supplier invoices both paid and unpaid
listing of accounts payable would be helpful – even if it is just your best guess
customer invoices and sales receipts issued including outstanding customer invoices
an accounts receivable listing would be helpful – even your best guess helps marking any doubtful accounts
list of all customer deposits and/or prepayments received
inventory list
all government correspondence and tax forms
payroll information and reports including new employee information and payroll reports

If you have questions regarding any of the above information, contact Skynar Bookkeeping.