Having a New Bookkeeping Client Checklist is important because it helps bookkeepers ensure that they have all the necessary information and documents to properly manage their new client’s financial records. A checklist can help bookkeepers organize their work and ensure that they don’t overlook important details that could lead to errors or discrepancies in the client’s financial statements.
Collect basic information about the client such as their legal business name, business structure, business address, phone number, and email address.
Determine which accounting software the client uses or prefers to use. This could be QuickBooks, Xero, Zoho Books, or any other software.
Request the client's chart of accounts or create one for them, depending on their preference. This will help to categorize their expenses and revenues.
Request bank statements for all bank accounts associated with the client's business, including savings and credit card accounts. This will help to reconcile transactions.
Request copies of all invoices and receipts for expenses and revenue for the current year. This will help in tracking the expenses and revenue for the business.
Request copies of tax documents such as tax returns, W-2s, and 1099s for the current and previous years.
If the client has employees, request payroll records and verify that payroll taxes are being withheld and remitted correctly.
Review outstanding invoices and bills to be paid and ensure that they are up to date.
If the client has inventory, request a detailed inventory list and ensure that it is up to date.
Request any other financial information that may be relevant, such as loans or lines of credit, investment accounts, and any other income or expense-generating activities.
A New Bookkeeping Client Checklist is important because it helps bookkeepers organize their work and ensure that they don't overlook important details that could lead to errors or discrepancies in the client's financial statements.
A New Bookkeeping Client Checklist should include basic information about the client, accounting software used, chart of accounts, bank statements, invoices, tax documents, payroll, accounts receivable and accounts payable, inventory, and any other relevant financial information.
By discussing the items included in the New Bookkeeping Client Checklist with clients upfront, bookkeepers can establish clear communication about expectations, deadlines, and responsibilities, and ensure that they are meeting their client's needs and goals.
Yes, a New Bookkeeping Client Checklist can be customized for each client based on their specific needs and preferences. Bookkeepers can add or remove items as necessary to ensure that they have all the necessary information and documents to provide accurate and timely financial reporting.
The New Bookkeeping Client Checklist helps bookkeepers establish clear communication with their clients about expectations, deadlines, and responsibilities. The checklist can streamline the onboarding process, promote clear communication and collaboration between bookkeepers and clients, and ensure that bookkeepers have all the necessary information and documents to provide accurate and timely financial reporting.
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