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Is bookkeeping making you stressed and overwhelmed? If you’re a beginner or still not quite comfortable, the act of bookkeeping can seem chaotic and confusing. There are many moving pieces that all need to be handled on their own before stepping back to look at the bigger picture. To help you on your way and ensure your bookkeeping tasks are done in a timely manner, use the guide below to determine if something should be done on a daily, weekly, or monthly basis.

Daily

-Log and categorize transactions. If you use a software that syncs these transactions, please review for accuracy, as mistakes can happen.

-Address any red flags that may arise and handle them immediately.

Weekly

-Send any reminders for overdue invoices

Bookkeeping is an act of repetition. You must keep up with specific tasks on a weekly, monthly, quarterly, and annual basis. A company’s “bigger picture” is important, but can’t be seen, or even accomplished, without maintaining the day-to-day minute details of your bookkeeping, which helps you paint a clearer, more accurate picture over time. What should you be doing on a weekly basis to keep up with your bookkeeping? 

Issue invoices to clients/customers. 

To stay on top of your Accounts Receivable, make sure you are sending out invoices in a timely fashion. In addition, use this time to send out any payment reminders for overdue invoices. 

Record and manage payments received. 

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