Bookkeeping Deliverables: What You Should Receive Every Month
If you pay for bookkeeping every month, you should know exactly what arrives in return. A complete service produces reconciliations, financial reports, and short notes explaining key exceptions or variances. This article lists the essential monthly deliverables every small business should receive from its bookkeeper and how to use them to monitor performance and cash flow.
1. Bank and Credit Card Reconciliations
Each month your bookkeeper should match every bank and card account against statements. This confirms all transactions are recorded, balances are correct, and no duplicate or missing entries remain.
2. Categorized Transactions and Updated Chart of Accounts
All income and expense items should be coded accurately to the right categories. A maintained chart of accounts keeps financial reporting consistent and tax-ready.
3. Accounts Receivable and Payable Status
Aged AR and AP reports show who owes you money and which bills are due. They are critical for cash-flow planning and help prevent missed collections or late-payment fees.
4. Monthly Financial Statements
Expect three standard reports:
- Profit and Loss Statement showing revenue, costs, and margin.
- Balance Sheet summarizing assets, liabilities, and equity.
- Cash Flow Statement tracking inflows and outflows.
These give a snapshot of financial health and support tax preparation.
5. Exception or Variance Notes
Your provider should flag unusual activity such as large vendor changes, missing receipts, or unexpected expense spikes. Short commentary helps you act before issues grow.
6. Supporting Documents and Access
Reports should be stored securely and shared through a client portal or cloud folder. You should be able to download prior months anytime without delay.
7. Summary Email or Dashboard Update
A one-page summary or dashboard view reinforces key numbers, income, expenses, and ending cash, so owners can grasp results quickly.
How to Use Your Monthly Deliverables
Review statements soon after receipt. Check that balances match your bank, scan expense categories for surprises, and track trends over time. Ask your bookkeeper to clarify anomalies rather than ignoring them.
FAQs
What is the most important bookkeeping deliverable?
Monthly reconciliations and financial statements form the foundation for every other report.
When should monthly reports be delivered?
Within 10 to 15 days after month-end is standard for most SMBs.
How can I verify that reports are accurate?
Spot-check balances against bank statements and ask for a reconciliation summary each month.
Should bookkeepers provide commentary with reports?
Yes. Brief variance notes turn raw numbers into useful insight for owners.
