Business Corp Template

Is Everything In Order?

October 2009
by Chauntelle Popp, Marketing Director TheOfficeSquad®

It's nearly tax time! The end of financial year is just around the corner. Are you on top of your bookkeeping? If not, there's still time to get a handle on your end of the year financial and tax responsibilities.

Hopefully, you have had a regular routine to ensure your financial records and bookkeeping are up-to-date. Small business owners often struggle with this, because they are still trying to do it all themselves. This makes the end of the year a very stressful time.

Ideally throughout the year you have undertaken regular tasks to ensure your financial statements are up-to-date. However, we know that small business owners like yourselves are time poor and you may have not found the time to be that prepared.

If you are not ready, start now. With careful planning, and setting a regular schedule, it is possible to get things ready and reduce the stress associated with year end. To be ready to provide all the relevant information your accountant needs, we suggest that you:

Reconcile bank statements
Reconcile receivables & payables
Audit your inventory
Reconcile credit card statements

Overwhelmed? Don't be there are services out there like The Office Squad that are able to help you complete this task.

Once all your data entry and reconciliations are complete, you will be ready to run reports. Oh, and don't forget that all 1099's are due by January 30th every year.

Having your paperwork in order before seeing your accountant will save you time and money. Get help if you need it, and remember, you can always call us!