In this guide 6 sections
A bookkeeping firm closes a month by running the same steps for every client: collect papers, post entries, match the bank, review, send the report and bill the fee. GullySystem’s CA practice management software holds those steps and the paper requests, while the books stay in Tally or Zoho Books.
Ask for papers by name
The month starts with a request to each client for specific papers: bank statement, purchase bills, sales bills and expense vouchers. Name each item, so nobody wonders what is missing.
Count the reminders sent, and keep one list of clients who are still late. A client who needs three reminders each month is a pricing question as well.
- Bank statements for each account
- Sales and purchase bills
- Expense vouchers and petty cash
- Payroll inputs where you run payroll
Post and match in a fixed order
Entries are posted in the client’s books, then the bank is matched against them. Doing the bank early shows missing bills while the client can still find them.
Differences stay on one list with a reason beside each. Software that imports the statement and pairs entries makes the list short, but a person decides what a doubtful credit actually was.
Review before anything goes out
A second person checks the file before the report is sent. The record should show who prepared it, who reviewed it and which queries were raised and answered.
Partners then see closed, in review and not started across all clients on one screen. Reviews no longer bunch up on the last day.
- Preparer and reviewer named per client
- Queries raised and answered on the job
- GST and TDS workings attached
- Partner sign-off where the work needs it
Send the report and record what was filed
Reports go to the client in a fixed format and on a fixed date. If you also prepare returns, the filing is done on the government portal, and the acknowledgement is stored with the job.
Your firm and your adviser decide what each return needs. The software holds the proof; it does not file.
Bill the fee while the work is fresh
Raise the fee bill as the close finishes, using each client’s agreed terms. Record the effort or entries handled against that fee, so repricing starts from a record.
Receipts and dues sit in the same place. A recovery round then works down a list ordered by age, and not from memory.
Monthly close tracker
A grid with clients down the side and steps across the top: papers in, posted, bank matched, reviewed, report sent, fee billed. Tick each cell with a date and the initials of the person. Empty cells show what is left.
Open a blank worksheet to printQuestions owners ask
Does practice software write our clients’ books?
No. The books stay in Tally, Zoho Books or Busy. The software runs the practice around them: clients, tasks, papers, reviews and fees.
Is it only for chartered accountants?
The product is written for CA firms, and its client list, task calendar and fee records suit bookkeeping firms too. Fit is checked in scoping.
Can it file GST or TDS returns?
No. Filing happens on the portals. The job holds the workings, the acknowledgement and the filed copy.
Is a spreadsheet enough for a small firm?
Often, yes. A task sheet works for a few clients. It strains when several people share work and papers arrive from many sources.