How do I read my Bookkeeping Reports?

After every monthly Bookkeeping session, you'll receive a set of reports for review on the last day of the month..

Remember, every bookkeeping session we are reconciling and closing the prior month!

• Example: when we do your bookkeeping on March 15, we cannot reconcile and close March, we are reconciling and closing February.

(Weekly Bookkeeping reports are sent every Sunday, reporting the prior week)

We want you to review each round of reports as we are closing out every period as we go to prepare your financials for tax return filing. If you have no feedback that is absolutely fine, we'll close the period for you.

If you do have feedback, questions or changes, the best way to tell us is to reply to your reports by email as soon as possible. We will schedule your updates to be completed on our next bookkeeping session and we will close the period. Always fully up-to-date books should be your reward for paying for Professional Bookkeeping. 

Reviewing our reports should take you about 5 minutes. Each report contains instructions in the Report name. Reports are sent on the last day of each month after our bookkeeping is completed. Each report also shows the date that is being reported.

The top of each report includes both dates and instructions. Our "Core 4" Reports explained:

1. Uncategorized Transactions - These are our questions; please provide more information on these
   This report shows which transactions we have questions about; please provide more information on these so that we may code them. The best way to answer our questions is to simply reply to your reports email
2. Business Expenses - This is how your Business Expenses from last period were coded
   This report is a detailed list of all of your Business Expenses reconciled from the prior month or quarter.
3. Personal Expenses - These are your non-deductible Personal Expenses from last period. Should any of these be changed to Business Expenses?
   This report lists non-deductible Personal Expenses that you may have paid through business accounts during the prior month or quarter. 
4. Profit & Loss - This is a report of your income and expense totals for the year-to-date

If you feel confused, have questions, or would like to see different reports, please contact your Team and we'll take the time to make sure you get what you need to do.

See also How does my Bookkeeping Service work?

See also What does "Cash Basis" mean?