What should a monthly bookkeeping pack contain?

Monthly bookkeeping should give a business owner a clear view of the records for the period, not just a set of exported reports.

Reconciled accounts

The pack should show that bank accounts and agreed control accounts have been reconciled. If an item cannot be reconciled, the pack should explain what is missing or what question needs to be answered.

Useful reports

A practical pack often includes an income statement, balance sheet, aged debtors, aged creditors and a short notes section. The exact reports should depend on the business and the agreed scope.

Clear queries

Queries should be specific. A request such as “please explain these five card payments” is more useful than a vague note saying information is outstanding.

Client responsibilities

The client still needs to provide complete source records, explain unusual transactions and approve decisions that require business context.

This article is general information for South African business owners and is not accounting, tax, legal or financial advice.