Birmingham bookkeeping
A monthly bookkeeping checklist for Birmingham small businesses
A practical monthly bookkeeping routine for Birmingham, AL businesses: organize records, review transactions, reconcile accounts and understand your reports.
Running a small business in Birmingham, Alabama, often means moving between customer work, scheduling, billing and buying supplies in the same afternoon. Bookkeeping is easier to manage when it has a repeatable place in that schedule. A monthly review gives you a manageable set of records to check and a chance to raise questions before they accumulate.
Start with a complete set of records Gather statements for each business bank account and credit card, along with invoices, receipts and payment processor reports. Put them in folders by month and account. If you accept payments through more than one platform, collect reports from each one; a bank deposit alone may not explain the original sale or the fees deducted before payment.
Keep a short list of documents that are still missing. A statement downloaded today and a receipt requested from a supplier next week should both have a place in your review process.
Review what each transaction represents Compare your records with the transactions in your accounting software. Look for missing entries, repeated imports and descriptions that need an explanation. A transfer between your own business accounts needs a different review from a customer payment. A loan deposit also deserves a different treatment from an ordinary sale.
Write down questions rather than guessing from a merchant name. This helps your bookkeeper resolve unclear items with you while the details are still fresh.
Reconcile each account Bank reconciliation compares your accounting records with a bank statement and identifies differences, including transactions that have not cleared. Review the opening balance as well as the activity for the month. Avoid forcing a match with an unexplained adjustment. If a prior period needs attention, document the issue and agree on a correction with the person responsible for the books.
Review the month with a purpose Ask which customers still owe money, which bills are coming due and whether any balances need investigation. Compare your profit and loss statement with the prior month and look at the balance sheet alongside it. Choose one question to answer before closing the review, such as whether a major expense changed or a customer payment arrived late.
Patrick Palmedo Accounting offers bookkeeping support for Birmingham and Alabama businesses. Call or text (205) 209-5207 to discuss your current records and the monthly support you need.