Monthly: Analyze and reconcile the books
• Reconcile your checking Account
•Make sure cash transaction entries are accurate and that the business is working to the correct cash position.
•Review past-due receivables
•At the beginning of the month, send out friendly reminders to customers, clients, and anyone else who owes the business money.
Analyze inventory status
• Reorder products that sell quickly, and identify others that are moving slowly and may need to be marked down or discontinued.
Review month-end balance sheet vs. prior period
Compare the current balance sheet with one from the same period in the previous year to see how the company is managing its assets and liabilities.