Information Small Businesses Need to Give Their Bookkeeper

Running a small plumbing, HVAC, or construction business is hard work. Between servicing clients and managing your crew, bookkeeping might be the last thing on your mind. Many new owners feel unsure about exactly what information small businesses need to give their bookkeeper to keep the books in order. You might even worry about overwhelming your bookkeeper with too much paperwork or, on the flip side, not sharing enough.

The good news is you don’t need to drown anyone in paper just focus on sharing a few key documents consistently. Small business owners often stress about what paperwork a bookkeeper really needs, but it really comes down to income, expenses, and other basics. In this post, we break down the essential information small businesses need to give their bookkeeper from receipts to job estimates in plain English. With the right info flowing, your bookkeeper can do wonders for your finances, and you can get back to doing what you do best.

Receipts: Every Little Expense Counts

One key piece of information small businesses need to give their bookkeeper is all your business receipts and expense records. Whether it’s the receipt for pipes at the hardware store or a lunch meeting with a client, these documents back up every dollar you spend. Why it’s important: Receipts help your bookkeeper track your expenses accurately and support tax deductions. Without them, your bookkeeper might have to guess what a transaction was for and guesswork can lead to mistakes in your books. If you don’t share receipts, you could miss out on legitimate write-offs or run into problems if you’re ever audited. Bottom line: save those crumpled receipts and send copies to your bookkeeper regularly.

Invoices: Don’t Leave Money on the Table

The information small businesses need to give their bookkeeper isn’t just about expenses it’s also about your income. That means providing copies of all your sales invoices, job tickets, or any paperwork showing money coming in. Why it’s important: Invoices document what your business earned and who still owes you. They form the basis of your revenue records, so if you don’t share them, your income in the books will be off. Imagine doing a big HVAC installation, but forgetting to give the invoice to your bookkeeper that sale might not get recorded properly, and you could end up thinking you made less than you actually did. Plus, without invoices on file, it’s harder for your bookkeeper to track unpaid customer bills (accounts receivable) and help you follow up so you get paid. Always hand over your invoices (or at least a summary of sales) so your bookkeeper can keep your income straight and ensure no payment slips through the cracks.

Payroll Summaries: Don’t Forget Your Team

If you have employees (or even subcontractors), payroll details are among the information small businesses need to give their bookkeeper on a regular basis. This includes things like timesheets, pay rates, payroll summaries, and any tax withholdings or benefit deductions. Why it’s important: Your bookkeeper needs these details to record wage expenses properly and handle payroll taxes. Payroll records ensure everyone gets paid the right amount and that your tax filings (like payroll tax reports) are accurate. If you don’t share payroll info, mistakes can happen for example, salaries might be recorded incorrectly or tax payments could be missed, potentially leading to penalties. By giving your bookkeeper up-to-date payroll summaries and reports, you help them keep your employees’ pay straight and stay compliant with government requirements.

Bank Statements: The Full Financial Picture

Your business’s bank and credit card statements are like the report cards of your finances, and they are critical information small businesses need to give their bookkeeper. Every month, be sure to forward copies of all business account statements (checking, savings, credit cards, etc.). Why it’s important: These statements let your bookkeeper double-check that every transaction in your books matches the real world. This process is called reconciliation it helps catch any errors or missing entries and ensures nothing (like that monthly tool lease payment or a client’s check) is overlooked. If you don’t share your bank statements, your bookkeeper can’t verify the records, and mistakes or even fraudulent charges might slip by. When your bookkeeper has your statements in hand, they can make sure your reported cash balance is accurate and give you a clear picture of your company’s financial health.

Job Estimates and Project Details: No Surprises

For trades businesses, job estimates or project quotes are an often overlooked piece of information small businesses need to give their bookkeeper. If you’ve given a client an estimate for a project (say, a quote for a kitchen remodel or a new AC installation), share it with your bookkeeper especially once the job is approved. Why it’s important: Knowing the expected costs and revenue of a job helps your bookkeeper see the bigger picture behind the numbers. They can compare a project’s actual expenses to the estimate to check if the job is staying on budget. If you don’t share a big estimate you’ve committed to, your bookkeeper might not realize, for example, that a large deposit in your bank account is an advance for a specific project, or that upcoming expenses are for that job. By having your estimates and project details, your bookkeeper can ensure all related costs and income are properly recorded  and even remind you to invoice the customer when a job is done. This keeps your project finances transparent, with no nasty surprises mid-project!

Stay Organized and Communicate

Staying organized and consistently sharing the information small businesses need to give their bookkeeper will save you headaches in the long run. When you provide your bookkeeper with receipts, invoices, payroll, bank statements, and other key info, you enable them to keep your records accurate, compliant, and insightful. You get a clear view of how your business is doing and can make better decisions without financial guesswork. So, toss the shoebox filing system make it a habit to send your bookkeeper these documents regularly. After all, this is the information small businesses need to give their bookkeeper to keep things running smoothly. In summary, a little effort in organizing and communicating now can prevent big problems later. Keep the conversation with your bookkeeper open, ask questions, and lean on their expertise. You’ve got this so stay organized, keep the information flowing, and watch your financial stress melt away.

 Keep your bookkeeper in the loop by regularly sharing these essential documents. It’ll help you stay on top of your finances so you can focus on running your business. Stay organized and communicate! 

If your books are feeling messy or you’re unsure what to send, don’t wait  get help today.

 Contact The Reconciling Specialist (TRS) for a free consultation and find out how we can simplify your bookkeeping, organize your records, and keep your business financially healthy.

👉 Let’s get your books in order  so you can focus on what you do best: running your business.