Bookkeeping Services

Bookkeeping Task List

Hirsch Tax Pros will provie the following common bookkeeping tasks and duties, broken down by week, month, quarter and year.

Enter deposits and payments
Enter payables and receivables
Pay any bills due
Mail requests for I-9's and/or certificates of insurance to new subcontractors (note on bill to hold payment against return of paperwork)
Follow up on any past due accounts

Enter principle and interest on any loan payments
Review vendors for expired certificates of insurance and request updated information
If collecting sales tax, review resale and nontax customers for any missing or expired ST-4 or ST-5 forms and request updated information
Review A/R and create customer statements or mail reminder invoices as needed
Review A/P statements against possible missing or past due invoices to be paid
Reconcile and pay sales and/or meals tax (monthly filers only)
Reconcile all bank and credit card accounts
Create/review monthly profit and loss and balance sheet statements
Create/review monthly inventory, sales, and other reports
(Nonprofits & some for-profits) Do monthly cost allocations
If you pay estimated taxes, set aside 20-30% of net monthly profit in a savings account for estimated or year-end taxes

File and pay sales or meals taxes (if an annual filer)
Review vendors and services (telephone or internet service providers, credit cards, etc.)
Update year-end inventory and capital assets in the books
(Nonprofits only) review the status of any restricted grants; prepare reports for funding sources as necessary
(Nonprofits only) review overhead expense allocations (Management & General, Development, Program) and adjust as needed
Review company insurance coverage against inventory value, potential liabilities or increased revenue
Review status of any owner loan accounts
Prepare materials for accountant and/or tax preparer