Bookkeeping routine for freelancers and small businesses
Keep your books up to date with small steps: receipts every week, invoices and payments, a monthly close and the quarterly VAT return. Free routine in Plenzu.
5 stepsAbout 3h of work
What this plan is based on
What bookkeepers advise: a small weekly habit and a monthly close, so the VAT return and the year-end are no surprise.
The plan, step by step
Steps
Open a separate savings account for taxes30m
Move a fixed part of every payment to it, so the tax bill is already there.
Process receipts and costs20m
Repeats every week
Send invoices and check who has paid20m
Repeats every week
Close the month
Repeats every month
- Match every bank line to a receipt or invoice30m
- Send a reminder for invoices past due15m
- Move money to the tax account5m
File the VAT return, if it applies to you1h
Move this to the right month for your quarters the first time.
Repeats every three months
How the routine works
Small and often beats one painful evening a year.
- Every week: receipts in, invoices out, check payments. About 40 minutes.
- Every month: match the bank, chase late payers, set money aside for tax.
- Every quarter: the VAT return, if it applies to you.
- Once a year: hand everything to your accountant, or file the income tax return yourself. With this routine it is mostly done already.