Example SOPs: Book-Keeper

Book-Keeper SOPs

Creating Standard Operating Procedures for your Book-Keeper work can be difficult and take time. That’s why we’ve created these example Book-Keeper SOPs so you can jumpstart your SOP creation process. We want to help you set up your Accounting systems and processes by taking these sample SOPs and building out your own SOPs template library. By having all your Accounting procedures in one place, your team will have the information they need at all times. Let’s look at some Book-Keeper SOP examples.

Book-Keeper SOP Examples

1. SOP: Financial Record Keeping

Purpose: The purpose of this SOP is to outline the procedures for accurately recording and maintaining financial transactions. It ensures that all financial records are organized, complete, and compliant with accounting standards. This includes recording income, expenses, assets, liabilities, and equity.

Scope: This SOP applies to all financial transactions within the business, including sales, purchases, payroll, and other financial activities.

Person Responsible: The book-keeper is responsible for implementing and maintaining this SOP.

References: This SOP may reference other SOPs such as “Accounts Payable” and “Accounts Receivable” for specific procedures related to those areas.

2. SOP: Bank Reconciliation

Purpose: The purpose of this SOP is to reconcile the company’s bank statements with the financial records to ensure accuracy and identify any discrepancies. It helps in detecting errors, fraud, or missing transactions.

Scope: This SOP applies to all bank accounts held by the business and covers the reconciliation process, including comparing bank statements, identifying and investigating discrepancies, and making necessary adjustments.

Person Responsible: The book-keeper is responsible for performing bank reconciliations and ensuring their accuracy.

References: This SOP may reference the “Financial Record Keeping” SOP for the proper recording of bank transactions.

3. SOP: Accounts Payable

Purpose: The purpose of this SOP is to establish guidelines for managing the company’s payables, including the processing and recording of invoices, tracking due dates, and ensuring timely payments to vendors and suppliers.

Scope: This SOP covers the entire accounts payable process, starting from receiving invoices, verifying their accuracy, obtaining necessary approvals, recording them in the accounting system, and making payments.

Person Responsible: The book-keeper is responsible for managing the accounts payable process, while the management team may be involved in approving payments.

References: This SOP may reference the “Financial Record Keeping” SOP for recording payable transactions and the “Bank Reconciliation” SOP for reconciling payments made.

4. SOP: Accounts Receivable

Purpose: The purpose of this SOP is to establish procedures for managing the company’s receivables, including invoicing customers, tracking outstanding balances, and ensuring timely collection of payments.

Scope: This SOP covers the entire accounts receivable process, starting from generating invoices, sending them to customers, tracking payments, following up on overdue accounts, and recording receipts.

Person Responsible: The book-keeper is responsible for managing the accounts receivable process, while the sales team may be involved in generating invoices and following up on payments.

References: This SOP may reference the “Financial Record Keeping” SOP for recording receivable transactions and the “Bank Reconciliation” SOP for reconciling receipts.

5. SOP: Payroll Processing

Purpose: The purpose of this SOP is to outline the procedures for accurately processing employee payroll, including calculating wages, deducting taxes and benefits, and ensuring compliance with labor laws and regulations.

Scope: This SOP covers the entire payroll process, from collecting employee time records, calculating wages, deducting taxes and benefits, preparing payroll reports, and distributing paychecks or direct deposits.

Person Responsible: The book-keeper is responsible for processing payroll, while the HR department may provide necessary employee information.

References: This SOP may reference the “Financial Record Keeping” SOP for recording payroll transactions and the “Bank Reconciliation” SOP for reconciling payroll-related transactions.

Note: The specific SOPs may vary depending on the size and complexity of the business, as well as any industry-specific regulations or requirements

Book-Keeper SOP Templates

Looking for SOP templates for your Book-Keeper work? We’ve got you covered. You can build out your company SOPs using the sample SOP information above (added to our template) or our team can put together a starter SOPs template based on your Book-Keeper work. Get in touch if you’ve got questions about the quickest way to build out your Accounting SOPs library.