Bookkeeping cleanup checklist
If your bookkeeping has fallen behind or become disorganized, getting back on track might seem like an uphill climb. A targeted cleanup, though, is often all that’s needed to organize your financial records. With the right tools and expert support when you need it, our bookkeeping cleanup checklist will help keep your business finances running smoothly.
b. Reconcile bank & credit card statements
c. Categorise & review transactions
d. Manage invoices & bills
e. Back up & secure your financial data
1. Bookkeeping cleanup checklist: Essential steps for business owners
A messy set of books can lead to financial headaches, tax surprises, and hours of wasted time. That’s why your friendly neighborhood SnapBooks team has created these simple steps to help you untangle your financial records.
a. Gather & organise your financial documents
Before you can clean up your books, you need to get all your financial records together to make sure you’re working with complete and accurate data.
Collect all receipts, invoices, and bank statements.
Digitize important paper records for easy tracking.
Check that every business transaction is properly recorded.
Time-saving tip: Use QuickBooks Online’s receipt capture feature to snap photos of receipts and automatically log them into your books.
b. Reconcile bank & credit card statements
Reconciling ensures that your recorded transactions match your actual bank and credit card statements. This step will catch errors, missing payments, and duplicate entries before they cause a bigger bookkeeping headache.
Compare transactions in your bookkeeping system to actual statements.
Identify missing or duplicate entries.
Fix simple discrepancies if you can. When in doubt, consult a bookkeeper.
Time-saving tip: Connect your bank accounts to QuickBooks Online to automatically match and reconcile transactions.
c. Categorise & review transactions
Properly categorizing income and expenses helps with tax deductions and financial reporting.
Review expenses and income categories in your bookkeeping software.
Correct any obvious mistakes, such as personal expenses logged as business.
Keep categories consistent for tax deductions and accurate reporting.
Time-saving tip: Create custom rules in QuickBooks Online to auto-categorize recurring transactions and minimize manual sorting.
d. Manage invoices & bills
Unpaid invoices and overdue bills can create cash flow problems as well as messy financial records. Make sure you’re on top of what’s owed to you, and what you owe others.
Follow up on unpaid invoices to improve cash flow.
Ensure all vendor bills are logged and paid.
Prioritize payment allocation if cash flow is tight.
Time-saving tip: Use QuickBooks Online’s automated reminders to nudge clients about unpaid invoices.
e. Back up & secure your financial data
Regular backups and security measures are essential to protect your records from accidental loss or cyber threats.
Save copies of key financial documents.
Use cloud accounting software or external backups.
Review who has access to sensitive financial data.
Time-saving tip: Enable automatic backups in QuickBooks Online to ensure your data is always protected.
2. When to call a bookkeeper to clean up your accounts
While these simple steps will get your financial records back in order, some bookkeeping tasks require professional expertise to avoid costly mistakes.
Consider working with a bookkeeper for the following:
Payroll and tax compliance to ensure accurate filings and avoid penalties
Correction of significant or complex errors
Account optimization for better reporting
Detailed financial analysis to manage budgets and identify trends
Taking control of your books is a significant step—and one you don’t have to take alone. If you need help getting your financial records in order, our bookkeeping cleanup service will work numerical magic so you can know exactly where your finances stand. And if you're curious about all that digital bookkeeping can bring to your business, our QuickBooks Online Certified ProAdvisors have so much to tell you!
Welcome to SnapBooks! We’re a virtual accountant firm specializing in outsourced bookkeeping services, payroll for small businesses, and small business tax prep. Whether you’re a small business owner or running a growing company, we’ll help you stay on top of your finances with expert support and accurate, real-time numbers.
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If you’re a business owner interested in learning more about our accounting and bookkeeping services, we’d love to help. You can request a custom quote here.
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