Accounting Department

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The knowledge base2651 cited facts from 71 documents, plus how they connect and when.

Skills

Categorize transactionsProposes account codes for bank and card transactions and receipts, removes duplicates, matches receipts, queues anything uncertain, and appends the accepted batch to the expense ledger, income ledger and cash tracker. Use when a bank or card export, a statement download or a batch of receipts arrives, or when the person says categorize, code these transactions, sort my expenses, book these receipts, clear the feed, post this export or what are these charges. Works only from the chart of accounts and the categorization rulebook, and appends nothing until a person has accepted the batch.

Close the monthRuns the monthly close from the close checklist, checks that every account is reconciled and nothing is left uncategorized, proposes adjusting entries from their schedules, produces and ties out the statements, and hands the owner a close summary to sign. Use when a month has ended or when the person says close the month, month end, month-end close, close November, close the books or are we ready to close. Also runs the quarter-end checklist when the month ends a quarter. Refuses to finish with an open reconciliation. Only the owner signs, and only the approver records the period as closed.

Invoice and collectDrafts customer invoices, records them once the owner has sent them, applies receipts, builds receivables aging, and drafts collection reminders with a list of decisions for the owner. Use when work is ready to bill, or for the weekly receivables follow-up, or when the person says send an invoice, bill this client, invoice this job, who owes me, aging report, chase overdue invoices, follow up on payment, reminder email or record this payment. The owner approves every invoice and every message before it goes out. Write-offs, discounts and payment plans are the owner's decisions. Sales tax questions are flagged for the CPA.

Maintain vendors and 1099sKeeps the vendor master, tracks whether a W-9 is on file, holds any bank-detail change for a phone call by the owner, lists W-9 gaps during the year, and after the year is closed builds the Form 1099 candidate list for the CPA. Use when a vendor is added or changed, at quarter end, at year end, or when the person says new vendor, W-9, update vendor, change bank details, 1099, 1099-NEC, who needs a 1099 or contractor payments. Thresholds are read by payment date from the figures file. Never stores a W-9 or a full tax ID, never changes bank details, never files. The CPA confirms the list and files.

8 more skills

Prepare the management reportBuilds the monthly management report from a closed month, with the income statement, balance sheet, cash summary, KPIs, variance commentary tied to the ledgers, and a one-page summary. Use when a month is closed and the owner wants financials, or when the person says monthly report, management report, financial statements, how did we do last month, P and L, profit and loss, balance sheet, KPI report or board pack. Refuses an unclosed month unless the person asks for a draft labeled as one. Every report is labeled internal, not audited, reviewed or compiled, and nothing leaves the business until the owner approves it.
Prepare the year-end packageAssembles the indexed year-end package for the CPA after confirming the year is closed, with trial balance, ledgers, reconciliations, schedules that tie to the books, an open-questions list and proposed adjusting entries. Use when the fiscal year has ended, or when the person says year end, year-end package, tax package, get ready for my CPA, books for the accountant, tax season or close the year. It keeps books and prepares material for a tax preparer. It does not prepare or file a return or give tax advice. The owner releases the package, and the CPA decides tax treatment and prepares the returns.
Process an expense reportReviews an expense report or mileage submission line by line against receipts and the expense policy, works out mileage at the rate in force on each trip's date, totals approved, questioned and rejected lines, and prepares the entry and reimbursement amount for an approver who is not the submitter. Use when an employee or owner submits expenses, or when the person says expense report, reimburse me, out of pocket, mileage, log my miles, I drove to a client or per diem. Prepares only. The owner's own expenses go to the outside bookkeeper or CPA, and paying the reimbursement is a person's act.
Process a vendor billCaptures a vendor bill, checks its arithmetic, tests for duplicates, compares the vendor with the vendor master, codes it, matches it, and prepares a separate proposed payment list. Use when a bill or vendor invoice is added or forwarded, or when the person says enter this bill, log this invoice, we got a bill, what do we owe, payment run, what should I pay this week or proposed payments. Entering a bill and paying it are two approvals that are never merged. A changed vendor bank detail stops the bill for a phone call to a number already on file. Prepares only; the owner pays in the bank.
Reconcile an accountReconciles one bank, credit card, loan, merchant clearing or petty cash account to its statement, line by line, and reports the difference. Use when a statement arrives, or monthly for every account, or when the person says reconcile, bank rec, tie out the bank, match the statement, balance the checkbook or why does the bank not match. The difference must be exactly zero. A reconciliation that does not tie is a valid result, reported with its amount and left open. Never forces a balance and never adds a plug entry. A reviewer signs, and the owner reads the statement itself.
Record payrollRecords a completed pay run in totals only from the payroll provider's report, fills the standard journal entry from named report lines, ties net pay and tax debits to the bank, tracks tax deposits, and flags changes from the prior run. Use when the provider issues a run report, or when the person says record payroll, book payroll, payroll journal, payroll summary, tie out payroll or payroll tax deposit. Never runs payroll, changes pay, files a return or stores per-employee detail. Running payroll and filing payroll taxes stay with people and the provider, and the owner accepts the entry.
Set up the booksSets up the Accounting Department Base for one business after a copy. Interviews the owner, tailors the chart of accounts by block, records opening balances from the owner's own statements, fills the books setup record, the approval table and the agent inventory, creates the standing threads, and shows how to add the skill index to an AI's standing instructions. Use when a business has just copied the template, or when its entity, accounting method or ledger changes. Trigger words include set up the books, set up my books, get started, start here, new Base, onboard my business, opening balances, tailor the chart, changed entity, switched to accrual and new ledger. It records decisions the owner made with a CPA and never recommends an entity or a method.
Update the cash forecastRolls the 13-week cash forecast forward as a new version, logs last week's variance by line, and lists the weeks that fall below the owner's minimum cash with the options the owner has. Use weekly, or when the person says cash forecast, 13-week forecast, cash flow forecast, will cash cover payroll, can we afford this, runway, how much cash will we have or are we going to run short. Every forecast states whether it rests on closed books. The forecast needs no approval, but any action it suggests, such as delaying a payment or drawing on credit, is the owner's decision.

2651 facts · 12 skills · 71 source documents

Selected findings

The 2025 standard mileage rate for business car use is 70 cents per mile.

IRS Publication 463 · p.20 +3

Eligible individuals can deduct up to $25,000 of qualified tips for tax years beginning after 2024 and before 2029, but mandatory service charges do not qualify.

IRS Publication 15 ( · p.2 +1

Starting with amounts paid or incurred after 2025, the employer deduction for food and beverages provided through a qualifying eating facility drops to 0%.

tax-figures-by-year · rows 65–75

Backup withholding applies at 24% when a payee fails to furnish a correct Taxpayer Identification Number.

tax-figures-by-year · rows 10–19

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How it connects

Files71 files · 21.0 MB

PDFIRS Publication 583 (Rev 12-2024) Starting a Business and Keeping Records.pdf1.3 MBDownload

PDFIRS Publication 334 (2025) Tax Guide for Small Business.pdf2.6 MBDownload

PDFIRS Publication 463 (2025) Travel, Gift, and Car Expenses.pdf1.8 MBDownload

PDFIRS Publication 587 (2025) Business Use of Your Home.pdf1.4 MBDownload

PDFIRS Publication 538 (Rev 01-2022) Accounting Periods and Methods.pdf1.2 MBDownload

PDFIRS Publication 551 (Rev 12-2025) Basis of Assets.pdf1.3 MBDownload

PDFIRS Publication 15 (2026) Employer's Tax Guide.pdf1.6 MBDownload

PDFIRS Publication 15-B (2026) Employer's Tax Guide to Fringe Benefits.pdf1.3 MBDownload

Download all · 21.0 MB

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