Fit Small Business Template: Bookkeeping Cleanup Checklist for Small Businesses_2026.xlsx

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1	Bookkeeping Cleanup Checklist for Small Businesses
2	Track each cleanup task, account or period reviewed, issues found, adjustments, supporting records, and completion status.
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4	Project Information					Progress Summary
5	[Insert Company Name]		Cleanup period			Total tasks	31
6	[Insert Accounting Software]		Cleanup started			Completed	0
7	Prepared by		Cleanup completed			Needs review	0
8	Reviewed by					In progress	0
9						Completion %	0%
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12	Phase	Cleanup task	What to check / action	Account / Period	Status	Issue found	Adjustment needed	Supporting document / reference	Notes
13	Preparation	Gather accounting records	Collect bank, credit card, loan, payroll, tax, invoice, bill, and other supporting records.		Not started
14	Preparation	Save pre-cleanup reports	Save P&L, Balance Sheet, Trial Balance, General Ledger, A/R aging, A/P aging, and available reconciliation reports.		Not started
15	Cash & Credit Cards	Verify opening balances	Trace opening balances to statements, prior records, or setup/migration documentation.		Not started
16	Cash & Credit Cards	Review bank transactions	Check dates, amounts, payees, categories, transfers, and personal expenses.		Not started
17	Cash & Credit Cards	Reconcile bank accounts	Reconcile every bank account through the end of the cleanup period.		Not started
18	Cash & Credit Cards	Reconcile credit cards	Reconcile every credit card account and review payments, credits, fees, and outstanding items.		Not started
19	Subledgers & Specialized Accounts	Review accounts receivable	Review A/R aging, old invoices, unapplied payments, credits, duplicates, and negative balances.		Not started
20	Subledgers & Specialized Accounts	Review accounts payable	Review A/P aging, old bills, vendor credits, duplicate bills, and incorrectly applied payments.		Not started
21	Subledgers & Specialized Accounts	Review Undeposited Funds	Investigate old customer payments, duplicate deposits, and incorrectly grouped deposits.		Not started
22	Subledgers & Specialized Accounts	Reconcile payment processors	Tie gross sales, fees, refunds or chargebacks, and net deposits to processor records.		Not started
23	Subledgers & Specialized Accounts	Review payroll	Compare payroll expenses and liabilities with payroll reports and tax filings.		Not started
24	Subledgers & Specialized Accounts	Reconcile loans	Tie loan balances to lender statements and verify principal, interest, and fees.		Not started
25	Subledgers & Specialized Accounts	Review fixed assets	Compare asset accounts with purchase records, disposals, and depreciation schedules.		Not started
26	Subledgers & Specialized Accounts	Review inventory	Compare inventory records with physical counts and investigate quantity or valuation differences.		Not started
27	Subledgers & Specialized Accounts	Review sales tax	Compare sales tax collected, liabilities, filings, and payments.		Not started
28	Subledgers & Specialized Accounts	Review owner/equity transactions	Check contributions, draws/distributions, personal expenses, and owner-paid business expenses.		Not started
29	Chart of Accounts	Review chart of accounts	Identify duplicate, unused, incorrectly classified, or unexplained accounts.		Not started
30	Transaction Cleanup	Clear suspense/unclassified accounts	Research and properly classify transactions in suspense, miscellaneous, or uncategorized accounts.		Not started
31	Transaction Cleanup	Check duplicate transactions	Search for duplicate amounts, dates, vendors, invoice numbers, or bank-feed imports.		Not started
32	Transaction Cleanup	Identify missing transactions	Compare source statements and records with the general ledger for missing activity.		Not started
33	Financial Report Review	Review income accounts	Investigate unusual, negative, missing, or misclassified revenue balances.		Not started
34	Financial Report Review	Review expense accounts	Investigate unusual, negative, duplicate, personal, or misclassified expenses.		Not started
35	Financial Report Review	Review balance sheet	Confirm each material balance can be supported and explained.		Not started
36	Financial Report Review	Review profit and loss	Review trends, margins, unusual fluctuations, and misclassified income or expenses.		Not started
37	Financial Report Review	Review trial balance	Look for unusual debit/credit balances, unexpected accounts, and large adjustments.		Not started
38	Finalization	Post approved adjustments	Post corrections that have been researched, supported, and approved as needed.		Not started
39	Finalization	Document adjustments	Record the reason, amount, affected accounts, and supporting documentation for material adjustments.		Not started
40	Finalization	Reconcile affected accounts again	Confirm cleanup adjustments did not create new reconciliation differences.		Not started
41	Finalization	Run final reports	Run the same key reports used before cleanup for final review.		Not started
42	Finalization	Save post-cleanup reports	Save final financial and reconciliation reports with the cleanup documentation.		Not started
43	Finalization	Close/lock completed periods	Set a closing date or lock the period only after the cleanup has been reviewed and completed.		Not started
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