Bring the records you have. Start with a clearer picture.
A few well-organized records can help a bookkeeper understand the period, trace transactions, and spot what still needs attention. Use this checklist to gather what applies to your business; note anything that is missing instead of guessing.
THE CHECKLIST
Gather the records for the period under review.
01
Income and sales
Sales invoices, customer receipts, and records of cash received.
Payment processor or e-commerce reports, if you use them.
Keep records that show gross income and support amounts reported for tax purposes. [8][11]
02
Bank and credit accounts
Statements for business bank and credit-card accounts.
Loan or line-of-credit statements that relate to the business.
These help match recorded transactions to account activity. [1]
03
Expense support
Supplier invoices and receipts for purchases and operating costs.
Include the payee, amount, payment evidence, date, and what the purchase was for when available.
The IRS describes supporting details used to substantiate business expenses. [7][11]
04
Payroll
Payroll registers, wage records, and timesheets, if applicable.
Employment-tax filings and related payroll correspondence.
U.S. federal guidance says to keep employment-tax records for at least four years; [7] check the rules that apply to your location and business.
05
Tax records
Previous tax returns, tax identification details, and notices.
Correspondence with tax authorities about the period or business.
Keep records that support income, deductions, and items reported on returns. [8][11]
06
Legal and accounting documents
Relevant licenses, permits, formation papers, and signed agreements.
Existing ledgers, accounting exports, prior reconciliations, and open invoice lists.
Include documents that help explain the business structure or recorded transactions. [8][11]
SOURCE NOTES
Sources behind this checklist
Mercury, a bookkeeping preparation source identified in the supplied research. The research snapshot did not include the article URL.
Internal Revenue Service, Employment tax recordkeeping. The source URLs for other IRS findings grouped under research reference [7] were not included in the snapshot.
Kruze Consulting and Your Accounting, practitioner record-preparation guidance named in the supplied research. The research snapshot did not include article URLs.
New York State Department of Taxation and Finance recordkeeping guidance, as identified in the supplied research. The article URL was not included in the snapshot.