Source documents and the wider accounting service
Collecting and organising source documents is one part of bookkeeping. The full accounting service may also cover posting entries, reconciliation, payroll and reporting. Ask for the specific activities to be named in the engagement rather than relying on a broad service label.
Records to prepare
The list depends on your operations. A service provider and a business holding inventory will need different records. Use this checklist as a starting point and confirm the scope with your accountant.
- ✓Sales and purchase contracts and invoices
- ✓Bank statements and records of receipts and payments
- ✓Delivery, service acceptance and expense documents
- ✓Employment records and approved payroll information
- ✓Inventory or fixed-asset records, where applicable
Organise the monthly document flow
Agree a shared folder structure and file naming convention. Link invoices to contracts and payments, identify the relevant period and avoid sending duplicate copies. Set a submission date and appoint someone to answer the accountant’s questions.
Track missing records
Keep a list of each transaction, period, missing document and person who can obtain it. A bank statement helps identify a payment, but the supporting records needed depend on the transaction. Do not fill gaps with assumptions.
Assign responsibilities
The company confirms the underlying transactions and provides supporting information. The accounting team reviews the information within the agreed scope and flags unclear items. For a founder abroad, a local contact or a clear remote workflow makes questions easier to resolve.
This guide provides general orientation. A transaction’s treatment is established after reviewing its records and applicable rules.