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What to give your bookkeeper
Your books summarize transactions; source documents support those entries. The IRS says supporting records should identify the amounts and sources of gross receipts and document expenses and purchases. Its Publication 583, revised December 2024, says: “It is important to keep these documents because they support the entries in your books and on your tax return.”
- Sales and other income: Invoices, receipts, deposit information, cash register or point-of-sale summaries if used, payment processor reports, and applicable income forms.
- Expenses and purchases: Receipts, supplier invoices, paid bills, credit-card records, account statements, canceled checks or transfer details, and petty-cash slips where relevant. A statement or payment record may show that money was paid, but keep the invoice or other document explaining the purchase as well.
- Payroll: Employee compensation and payroll records if you have employees. Employment-tax records generally have a federal minimum retention period of four years; this is not a universal retention period for every business document.
- Business accounts: Statements for the business bank and card accounts used during the period, along with the bookkeeping records you have maintained.
- Inventory and assets: If applicable, inventory purchase records and documents for assets bought, placed in service, sold, or otherwise disposed of.
The IRS does not generally prescribe one recordkeeping format. The system must clearly show income and expenses, and the records needed depend on the nature of the business. See the IRS Recordkeeping guidance and Publication 583 for federal guidance.
How to organize and annotate the records
Choose a consistent structure
Use a folder system or digital structure that makes documents easy to find by period and purpose. The IRS gives year and income-or-expense type as an example. For instance, you might group a month’s records into sales, operating expenses, payroll, and assets, provided the structure remains consistent and lets the bookkeeper trace a transaction to its support.
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Explain exceptions without guessing
Add a short factual note to unusual deposits or expenses, owner contributions or withdrawals, loans, cash expenses, or purchases that combine business and personal use. If you do not know what a transaction was for, mark it for clarification rather than assigning a purpose. Keep the original source document attached to or linked from the relevant transaction where practical.
Keep records readable and complete
Make sure scans, photos, exports, and statements are legible and cover the full period. Preserve supporting records in an orderly, safe way. The IRS accepts electronic recordkeeping when records are complete and accurate and accessible to the IRS; see its electronic transaction-record guidance.
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Reconcile accounts before the handoff when possible
Compare your bookkeeping records with business bank and card activity. Mark transactions that are missing, duplicated, unfamiliar, or recorded for a different amount, and include any relevant explanation or supporting document. Reconciliation can surface missing entries, charges, and errors; IRS Publication 583 recommends reconciling checking accounts monthly.
If you have not reconciled the records, say so plainly and provide the statements. A bookkeeper can work with an incomplete handoff more effectively when the gap is identified instead of hidden.
Send the handoff securely and make its scope clear
- Confirm with the bookkeeper which accounting period is covered, which file formats they can use, and whether they need document uploads, system access, or both.
- Provide the organized files or grant appropriate access to the bookkeeping system. Use secure sharing for sensitive business and employee information.
- Include a brief handoff note identifying the period, accounts included, known missing documents, unreconciled activity, and transactions needing clarification.
- Keep your own complete copy of the supporting documents and preserve originals; the handoff does not replace your recordkeeping responsibilities.
Choose a system that fits the work
Paper files and electronic systems can both work; the cited IRS guidance does not require a single format. Choose a method that makes it practical to:
- summarize income and expenses clearly;
- trace entries to readable supporting documents;
- keep records complete, accurate, and accessible;
- reconcile accounts and hand off records consistently; and
- handle the volume and type of activity your business has.
A journal or ledger can be used to summarize transactions, but buying a physical ledger is not necessary if another system meets your recordkeeping needs. A bookkeeper’s preferred workflow may differ, so confirm their requirements while retaining your source records.
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Know which guidance applies
The IRS and SBA material cited here addresses U.S. federal recordkeeping and bookkeeping. State, local, industry, and entity-specific rules may add requirements, and the checklist is not a substitute for advice tailored to your business or jurisdiction. The SBA’s business management guidance describes bookkeeping functions such as bank reconciliation, but it does not establish one universal document handoff for every engagement.
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