Organizing Information For Your Accountant For Monthly Bookkeeping
- Provide sales invoices for the month (if applicable).
- Provide deposit slips for the month. Should include who deposit was from (if applicable).
- Provide cheque stubs for all cheques written during the month.
Stubs should include the following information:
- Date of cheque
- Payee
- Amount
- GST included (if applicable)
- Account code or description of expenditure
- Provide all invoices paid in the month. Additionally copies of invoices still unpaid at month end may also be provided.
- Provide the bank statement with the cancelled cheques.
- Provide receipts for any expenses paid by cash and
indicate if cash was from your own pocket or from the cash register. It
is helpful if these are organized by type of expenditure (ie. gas,
office, meals, etc.)
Hints:
- Mark the date, cheque number and amount paid on the invoice in order to cross-reference and avoid duplicate payment.
- File invoices by month or by supplier or by cheque number. Pick one and be consistent.
- Once information is returned – KEEP IT
- By law, records must be held for 7 years. Be safe and keep 8.
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