Build a routine you can repeat each month.

From customer invoice to collection

1. Check the customer, billing address and applicable tax details.
2. Enter the invoice date, items, quantities, rates and agreed terms; review the totals.
3. Complete the required review and post only when the document is correct.
4. Share the invoice using an available delivery option and track its outstanding balance.
5. Record the receipt using the actual payment date and account, allocate it to the correct invoice and check the customer statement.

• Customer management

From supplier bill to payment record

1. Check the supplier identity, bill number, date and supporting document.
2. Review expense classification and tax treatment with your accountant; input-tax-credit eligibility needs its own review.
3. Complete the approval and posting steps for the bill.
4. Record the supplier payment and allocate it to the intended bill. Make the actual bank transfer through your bank separately.
5. Review the vendor statement and any remaining payable balance.

• Bills and expenses

Reconcile a bank statement

1. Choose the correct bank account and statement period.
2. Import a supported CSV or Excel statement and check the column mapping, dates and amounts.
3. Compare suggested matches with the source transaction and statement evidence.
4. Investigate unmatched entries; use supported split, exclude or transaction actions only when appropriate.
5. Check opening and closing balances and resolve differences before completing the reconciliation.

• Bank reconciliation

A month-end review checklist

• Check missing invoices, bills, receipts and payments around the period end.
• Review receivables and payables, including unapplied receipts and payment allocations.
• Reconcile bank activity and investigate unexplained differences.
• Review the trial balance, profit and loss, balance sheet and relevant ledgers.
• Review GST book reports and matching evidence separately from statutory filing.
• Agree corrections with your accountant, preserve their supporting evidence and confirm the period before locking it.

Correct a posted transaction carefully

Identify the source document and what needs to change before selecting an action. A supported credit or debit note, cancellation or reversal preserves the original record and its relationship to the correction. Check associated receipts, allocations, reconciliation and locked periods first. Do not create a second live invoice merely to replace an incorrect one without resolving the first record.