What Should My Bookkeeper Be Doing in QuickBooks Each Month?
Hiring a bookkeeper is a smart step, but how do you know they’re covering everything your business needs? If you’re using QuickBooks Online, your bookkeeper should be doing more than just logging into your account. They should be actively managing the financial health of your business month after month.
Whether you’re working with an internal staff member or a virtual bookkeeping firm like The Hazel Group, here’s what a quality monthly bookkeeping process should look like.
Reviewing and Categorizing All Transactions
Every expense and deposit that flows through your bank or credit card accounts should be reviewed, coded correctly, and matched to the appropriate category in your chart of accounts. This ensures:
Accurate financial reports
Proper expense tracking for tax purposes
Clear visibility into where your money is going
Misclassified transactions can cause serious problems later, like inflated income, missed deductions, or incorrect cost-of-goods sold.
Reconciling Accounts
Your bookkeeper should reconcile every linked bank, credit card, and payment account to your QBO records each month. Reconciliation confirms that:
No transactions are missing or duplicated
Account balances in QBO match your real-world balances
Potential fraud or errors are detected early
Without reconciliation, you’re operating on assumptions - not facts.
Maintaining the Chart of Accounts
As your business evolves, your chart of accounts may need to be adjusted. Bookkeepers keep it tidy by:
Merging duplicates
Creating new, relevant categories
Closing outdated accounts
Ensuring consistency across periods
A well-maintained chart of accounts makes your reporting more meaningful and more useful.
Delivering Financial Reports
Your bookkeeper should generate and review key reports monthly, such as:
Profit & Loss (P&L)
Balance Sheet
Cash Flow Statement
A/R or A/P Aging Reports (if applicable)
These reports tell you how your business is performing and help identify any trends, risks, or opportunities.
At The Hazel Group, we also offer virtual review meetings to walk you through your numbers and provide actionable insights, not just spreadsheets.
Managing Receipts and Documentation
A complete and audit-ready set of books includes documentation. Your bookkeeper should help:
Attach digital receipts or invoices to transactions
Organize files in your client portal
Ensure you're prepared for tax filing or financial audits
Monitoring Connected Accounts in QBO
QuickBooks Online relies on linked bank and payment feeds—but connections break. Your bookkeeper should:
Monitor for broken links
Reconnect accounts if needed
Check for duplicate or missing transactions
This ensures ongoing accuracy and continuity in your books.
Providing Support and Strategic Input
A great bookkeeper doesn’t just “do the books,” they help you understand what the numbers mean. You should feel confident asking questions about:
What expenses are trending up or down
Why income looks higher/lower this month
How to prepare for tax season or growth
When to bring in additional services like payroll or forecasting
At The Hazel Group, we believe in proactive bookkeeping. We offer monthly or quarterly check-ins, email support, and reporting insights that go beyond the basics.
Bookkeeping You Can Count On
Not all bookkeeping is created equal. If you're not getting clear reports, timely reconciliations, or strategic insight from your bookkeeper, it's time for a better solution. Schedule a 30-minute consultation with The Hazel Group to learn how our virtual bookkeeping packages keep your books current, your strategy clear, and your business on track.
