Resources · Lesson
Month-end checklist for a one-person shop
An hour or two each month keeps the books current and useful. This is the short list we work through.
For educational purposes only. This lesson describes general bookkeeping practices and is not tax, legal, or lending advice for your situation. Talk with us or your tax professional before acting on it.
Chapter 1
Reconcile the bank
Match every bank and credit card account to its statement so the ending balance in your books equals the bank's. Anything that doesn't match gets found now, while you still remember it.
Chapter 2
Finish categorizing
Clear out uncategorized transactions so every dollar lands in the right account. "Ask my accountant" is fine for a day, not for a year.
Chapter 3
Review what customers owe — and what you owe
If you track invoices and bills, look at who is late paying you and what is coming due. Follow up on old invoices before they get older.
Chapter 4
Read the P&L
Spend five minutes with the month's profit and loss. New to it? Start with how to read a P&L without drowning.
Chapter 5
Save the statements
Download each bank and card statement and file it by month. When a lender, buyer, or tax preparer asks, you'll have them in one place.
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