Guides, checklists & templates
Every small business owner knows they should be reviewing their books every month. Do they do it? Most don’t. But here's the truth: when your books are current and clean, running your business gets easier. You make better decisions, tax season is less stressful, and you can go to bed at night knowing exactly where your business stands.
This twelve-page guide walks you through a complete monthly QBO review, step by step. No bookkeeping background required. You'll learn how to reconcile accounts, spot and correct miscoded transactions, review your Balance Sheet and P&L with confidence, and close the month knowing your numbers are right.
What's included: a step-by-step monthly review guide for cash basis small businesses, a printable one-page checklist, a troubleshooting table for common QBO issues, guidance for getting caught up if your books have fallen behind, and a plain English explainer on owner draws and equity — one of the most commonly misunderstood topics for small business owners.
File format: Pdf
After purchase: You'll receive an instant digital download. No refunds on digital products, but reach out at jessica@openbookservices.com if you have any trouble.
With this template, you can:
See your weekly starting bank balance and how it changes over time.
Track cash coming in (customer payments, loans, or other deposits).
Monitor cash going out (suppliers, payroll, loan payments, and expenses).
Spot weeks where your balance may dip negative — before it happens.
Recognize patterns, like seasonal slowdowns or timing gaps between income and expenses.
By working through this forecast, you’ll learn how money actually flows through your business and gain the insight to plan ahead — whether that means tightening spending, shifting payment dates, or preparing for financing needs.
File format: Excel (.xlsx) — compatible with Microsoft Excel and Google Sheets
After purchase: You'll receive an instant digital download. No refunds on digital products, but reach out at jessica@openbookservices.com if you have any trouble.
If you made the leap to an S Corp and are working out of your home office or have shared business / personal expenses, this tracker is for you.
An accountable plan is how your S Corp legally reimburses you for the business portion of those shared expenses, tax-free. But to keep the IRS happy, you need a paper trail. This spreadsheet is that paper trail.
What's included:
A pre-built spreadsheet with three tabs:
Start Here — a plain-English overview of how accountable plans work, a reminder of the three IRS rules you need to follow, and step-by-step instructions for using the tracker
Expense Tracker — your main working tab, organized by month (January through December), with a running Annual Total column. Gray cells are yours to fill in. No math required.
Annual Summary — a clean year-at-a-glance view that pulls directly from your tracker, organized by category. Handy for splitting transactions in QBO.
What it tracks:
Home office (auto-prorates your expenses based on square footage)
Cell phone & internet (with business use % built in)
Mileage for up to two vehicles (IRS standard rate + prorated loan interest and property tax)
Out-of-pocket expenses: travel, meals, health insurance premiums, HSA contributions, and more
How it works:
Each month, enter your expenses in the gray cells. When you’re done, transfer the "Total Monthly Reimbursement" amount from your business bank account to your personal account. Then record the transfer in QBO, split it across the right expense categories, and save this spreadsheet. That's it!
At the end of the year, your completed tracker is your documentation if you're ever audited.
This is for you if:
You're an S-Corp owner-employee reimbursing yourself for home office, phone, mileage, or other business expenses
You want a simple, organized way to track everything in one place, month by month
You're tired of scrambling at year-end to remember what you spent
This is not for you if:
You're a sole proprietor (you don't need an accountable plan — Schedule C handles this differently)
You're looking for legal or tax advice (this is a tracking tool, not a substitute for your CPA)
File format: Excel (.xlsx) — compatible with Microsoft Excel and Google Sheets
After purchase: You'll receive an instant digital download. No refunds on digital products, but reach out at jessica@openbookservices.com if you have any trouble.
With this two-page checklist, you’ll:
Catch errors before they snowball
Know your books are accurate and complete
Stay tax-ready all year (not just at year-end)
Understand your financial position with less effort
Waltz into tax season calm and prepared
This is the same monthly review process professional bookkeepers use, without all the accounting jargon.
This checklist is designed for: solopreneurs and small business owners, DIY bookkeepers using QBO, anyone who’s tired of wondering if their books are “right.”
File format: Pdf
After purchase: You'll receive an instant digital download. No refunds on digital products, but reach out at jessica@openbookservices.com if you have any trouble.
Helpful Links
Business Formation
Hawaii Tax Facts 31-1, Licensing and Tax Information for New Businesses
Hawaii Business Registration info
CorpNet outsourced business registration and compliance
Payroll
Gusto payroll & contractor payments: Gusto
State registration and resources, courtesy of Gusto
SurePayroll — low cost full service payroll
Tax
Hawaii GE Tax: General instructions
Frequently Asked Questions
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Bookkeeping is the process of recording and organizing your business’s financial transactions — income, expenses, bank accounts, and credit cards. When done consistently, it gives you accurate financial reports, clear visibility into cash flow, and reliable numbers for tax preparation. Without proper bookkeeping, it’s difficult to know whether your business is truly profitable or simply busy.
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At minimum, bookkeeping should be reviewed and reconciled monthly. Monthly bookkeeping keeps transactions organized, accounts accurate, and financial reports meaningful. Waiting until quarter-end or tax season often leads to errors, missed details, and unnecessary stress.
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A bookkeeper manages the day-to-day financial records of your business — categorizing transactions, reconciling accounts, and preparing financial reports. A CPA (Certified Public Accountant) typically focuses on tax preparation, compliance, and higher-level tax strategy. Accurate bookkeeping provides the foundation your CPA relies on.
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Accurate books reconcile to your bank and credit card statements, have consistent expense categorization, and produce financial reports that reflect reality. If accounts haven’t been reconciled monthly, or reports don’t match what you see in your bank balances, your books may need review or cleanup.
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Monthly bookkeeping services typically include recording and categorizing transactions, reconciling bank and credit card accounts, reviewing financial statements, and ensuring your books are accurate and up to date. Consistent monthly bookkeeping provides reliable Profit & Loss and Balance Sheet reports so you can make informed decisions throughout the year.
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Bookkeeping cleanupis a one-time service designed to correct and reconcile books that are behind, disorganized, or inaccurate. This may involve reviewing prior months (or years), fixing miscategorized transactions, reconciling accounts, and ensuring financial reports reflect accurate data. Cleanup establishes a reliable foundation before ongoing monthly bookkeeping begins.
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The timeline for bookkeeping cleanup depends on how far behind the books are and the complexity of the accounts. In many cases, cleanup can be completed within a few weeks. Larger backlogs or multiple years may take longer, but the goal is always to restore clarity and create a clean, accurate starting point moving forward.