Here’s a breakdown of routine bookkeeping tasks based on different time intervals:

Daily Bookkeeping Tasks:

1. Record Transactions: Enter daily financial transactions into the accounting system, including sales, purchases, and expenses.
2. Bank Reconciliation: Reconcile bank and credit card statements to ensure accuracy and identify any discrepancies.
3. Invoicing: Generate and send invoices to customers for products or services delivered.
4. Expense Tracking: Record and categorize daily expenses, including receipts and invoices.
5. Cash Flow Monitoring: Keep an eye on daily cash flow to ensure there’s enough liquidity for operational needs.

Weekly Bookkeeping Tasks:

1. Review Outstanding Invoices: Follow up on any unpaid invoices and track overdue payments.
2. Expense Review: Analyze weekly expenses to identify any unusual or unexpected costs.
3. Employee Time Tracking: If applicable, review and process employee time sheets for accurate payroll.

Monthly Bookkeeping Tasks:

1. Bank Reconciliation: Perform a detailed reconciliation of bank and credit card statements.
2. Financial Statement Generation: Generate monthly financial statements, including profit and loss statements and balance sheets.
3. Review Budget vs. Actuals: Compare actual financial results to the budget to identify variances and make necessary adjustments.
4. Depreciation Entries: Record any depreciation on fixed assets.
5. Payroll Processing: Process monthly payroll, including deductions and taxes.
6. Sales Tax Reporting: Prepare and submit sales tax reports, if applicable.

Quarterly Bookkeeping Tasks:

1. Review and Adjust Budget: Assess the budget and make adjustments based on the business’s performance and goals.
2. Audit Trail Review: Conduct a review of the audit trail to catch and correct any errors or discrepancies.
3. Tax Planning: Begin tax planning for the upcoming quarter and assess estimated tax payments.
4. Vendor and Customer Reviews: Evaluate vendor and customer relationships, negotiate terms if necessary, and assess credit terms.

Annually Bookkeeping Tasks:

1. Financial Statement Audit: Conduct a thorough audit of financial statements to ensure accuracy.
2. Tax Preparation: Prepare and file annual tax returns, ensuring compliance with tax regulations.
3. Inventory Valuation: Perform a comprehensive inventory valuation.
4. Fixed Asset Audit: Review and update fixed asset records, including depreciation calculations.
5. Budget Review and Planning: Review the annual budget, assess performance, and plan for the upcoming year.
6. Insurance Review: Evaluate and update insurance coverage as necessary.

Remember that the frequency and nature of these tasks may vary based on the size and complexity of the business, industry requirements, and specific financial needs. It’s important to customize the bookkeeping schedule to suit the unique aspects of each business.