Before you know it, the holidays will be here, filling up the calendar with more to-dos and festivities. Don’t put off the year-end planning details of bank reconciliations and estimated tax payments until the last minute. We advise all business owners to provide a clean version of your financial records to your accountant on or before November 15. Save yourself the stress and start the cleanup now!
When hiring new employees, it is important to consider all the steps and pieces of your business that will be impacted by the human resource investment. Not only are you paying the hourly wage or salary, but also potentially:
It’s that time of year, rounding out the fall season and sliding into the last few months of the year. We get lost in the day to day work and those unexpected events. Take a moment to take stock in what you and your business have right now and see where you are compared to where you started the year.
It's all about the report! How often are you checking your books for accuracy? Reviewing a P&L (profit and loss statement) is a great practice to see how you’re netting out each month. But reviewing the GL (General Ledger) can quickly show you where something’s not adding up, or you've incorrectly entered data.
5-Point Checklist: What to Send Your Accountant
Where does the time go? If you are already looking at the calendar and wondering how to accomplish a lot of reporting in a short time for tax season, we understand.
OOPS! 2017 is over and you forgot to do your bookkeeping. You are not returning your accountant’s phone calls because you don’t have the information that he needs to you’re your tax return for 2017. What should you do? You are not the only one. Every day we get a call from an optometrist or property manager who never kept any records last year. Here is what we do when faced with this dilemma.
Cash may be King but never underestimate the value of a clean balance sheet. What does clean mean and why is it important?
Our clients often ask us to help prepare their taxes in addition to the small business bookkeeping assistance we provide. Instead, we refer our clients to a CPA firm to provide tax preparation assistance. Why? Let’s look at the primary purpose of a CPA and a bookkeeping firm:
My bookkeeper:
- Keeps me organized.
- Keeps me accountable on tasks I don’t care for.
- Frees me up to do the work that I love.
While your bookkeeper may include data entry in their tasks, you really should have a partner that understands your business on a deeper level, down to your day-to-day needs.
