What are the bookkeeping tasks you must do monthly?
Aug 28, 2023
Some restaurant business owners put off bookkeeping work and when it's needed for the audit season or when management requests for a report, they spend several hours trying to resolve the discrepancies.
It really helps having a routine of regularly doing these tasks as when the time comes when you need it, the financial reports are readily available.
There are daily, weekly, monthly and annual bookkeeping tasks that must be done.
But listed here are the monthly tasks you must not put off doing monthly:
- Download your bank statements
- Enter all of your transactions
- Reconcile your accounts
- Follow up on any overdue invoices
- Pay any outstanding bills/vendors
- Review inventory levels
- Run monthly financial reports
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