What records should I gather before hiring a bookkeeper?
Bank and credit card statements are the foundation. Your bookkeeper needs to see every transaction flowing through your business accounts. Gather at least the last 12 months of statements for all accounts. If you’re behind on your books, pull statements going back to wherever your records stopped being accurate.
If you use QuickBooks or other accounting software, have your login credentials ready. Your bookkeeper needs to access your existing chart of accounts, prior transactions, and current setup. If you don’t have accounting software yet, that’s fine. Many businesses start fresh when they hire a bookkeeper.
Prior tax returns matter more than people realize. Your last one or two business tax returns show your bookkeeper how income and expenses were categorized previously. This helps maintain consistency and avoids creating problems when your accountant prepares next year’s return.
Gather your income documentation. This includes customer invoices you’ve sent, POS reports if you have a point of sale system, and any records of cash sales. For retail businesses, daily or weekly sales summaries from your register or payment processor work well.
Expense documentation helps verify what shows up on your statements. Bills from vendors, receipts for larger purchases, and any contracts or recurring payment agreements give context to the transactions your bookkeeper will categorize. You don’t need every receipt, but having key ones available saves time.
If you have employees, pull your payroll reports. These show wages paid, taxes withheld, and employer tax obligations. Your bookkeeper needs this to record payroll transactions correctly. Also gather any loan statements for business loans or equipment financing so interest and principal payments get recorded properly.
Sales tax filings matter if you collect sales tax. Your bookkeeper needs to see what’s been filed and paid to reconcile your sales tax liability. Missing or inaccurate sales tax records create problems that compound over time.
Don’t worry if you’re missing some of these items. A good bookkeeper can work with what you have and help you fill gaps. If your records are messy or incomplete, bookkeeping cleanup and catch-up services exist specifically for this situation. The goal is to get organized going forward, not to have perfect documentation of the past.
Coming prepared with these records means your bookkeeper spends time on actual bookkeeping instead of chasing down documents. That keeps your costs lower and gets your books in order faster.
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More Questions
What does full-service bookkeeping include for a small business?
Full-service bookkeeping includes transaction categorization, bank and credit card reconciliation, and monthly financial reports. Pricing typically starts at $199 per month and depends on your transaction volume.
Read answerWhen does a Texas business need a sales tax permit?
You need a sales tax permit before making your first taxable sale in Texas. This applies if you sell physical goods or certain taxable services and have a physical presence in Texas, or if you're a remote seller with over $500,000 in Texas revenue.
Read answerHow are monthly bookkeeping prices usually based on transaction volume or expenses?
Pricing typically reflects transaction volume, account complexity, and reporting needs. Many firms use expense amount as a benchmark because it correlates with how much work your books require. At SRC, full-service bookkeeping starts at $199 per month based on expense amount.
Read answerWhat financial reports should a business owner review every month?
Every business owner should review the profit and loss statement, balance sheet, and a cash flow or cash position report each month. Add accounts receivable aging, accounts payable aging, and budget-versus-actual if you work with a budget.
Read answerHow do I clean up old accounts receivable balances in QuickBooks?
Cleaning up old AR requires reviewing each invoice individually. Look for unapplied payments, duplicate invoices, bad debt that needs to be written off, and payments received outside QuickBooks that were never matched.
Read answerWhat chart of accounts should I use for a small business in QuickBooks Online?
Your chart of accounts should mirror how your business makes and spends money. Start with QuickBooks Online's default and customize it to track your actual income streams, direct costs, payroll expenses, owner equity, and taxes without creating so many categories that your reports become unusable.
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