The Monthly Bookkeeping Checklist for Service-Based Businesses

Whether you're cleaning houses, inspecting homes, detailing cars, or running another service-based business, your to-do list is always full. Bookkeeping might not be the most exciting part of your month — but it’s one of the most important.

This checklist will keep your finances organized, tax-ready, and decision-friendly (without spending hours every week).

Why Monthly Bookkeeping Matters

Letting your books go untouched for months leads to stress, mistakes, and missed opportunities — especially at tax time. But if you stay on top of it monthly, it only takes 30–60 minutes, and you’ll always know where your business stands.

Your Monthly Bookkeeping Checklist

1. Categorize All Transactions

Go through your business bank and credit card accounts and make sure every transaction is labeled:

• Income

• Expense (categorized properly: supplies, software, fuel, etc.)

• Owner’s draw

• Loan payments, etc.

Tip: Use software like QuickBooks Online to automate some of this — but double-check everything.

2. Reconcile Your Accounts

Compare your bank and credit card statements to your bookkeeping software and make sure the balances match.

Why? This catches duplicate transactions, missing entries, and bank errors.

3. Upload or Store Receipts

Organize your receipts digitally (Google Drive, Dropbox, QuickBooks app, etc.). Make sure you have backup for:

• Large purchases

• Client meals

• Travel expenses

• Equipment or tools

IRS rule of thumb: Keep receipts for anything over $75.

4. Review Your Profit & Loss Statement

Your P&L shows you:

• Total revenue

• Total expenses

• Net profit

Look for:

• Unusual spending

• Drop-offs in income

• Categories that seem too high (fuel, marketing, etc.)

Even just glancing at it monthly helps you catch issues early.

5. Set Aside Money for Taxes

If you're self-employed, you're responsible for your own taxes — and they add up fast.

A good rule: Set aside 25–30% of your net income for taxes.

6. Send Invoices / Follow Up on Payments

Make sure you've billed everyone you need to — and follow up on any overdue invoices.

Cash flow slows down fast when clients delay payment. Stay on top of it.

7. Track Mileage or Travel Expenses

If you use your personal vehicle for business, log your miles monthly using an app like MileIQ or QuickBooks’ mileage tracker.

This deduction adds up quickly — especially for cleaners or mobile businesses.

8. Save a Backup of Your Books

Export your reports or data once a month and save them to a secure folder or cloud drive. You’ll thank yourself later.

Final Thoughts

Bookkeeping doesn’t have to be painful. A simple monthly routine keeps your books clean, your stress low, and your business moving forward.

Want to talk about bookkeeping for your business? You can contact us by clicking here

Or send us an email at David@RuckandReconcile.com

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As always, thank you so much for reading!