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Year End and how to prevent the hassle!!!
Many people have their year-end as December 31. This can be a crazy busy time for lots of business owners, bookkeepers and accountants. If you do not do your own bookkeeping, you should choose a company that will work with your auditing firm and help you complete your year-end. And remember! It’s ok for you to ask questions! It’s your business and you are responsible for the maintenance of your financial records.
Tips to make year-end easier and stress free:
• Don’t wait until the last minute to get everything together. Monthly organizing can save you a lot of time and money.
• Make copies of asset invoices and keep them in a binder. Make tabs for each year so any new assets can be verified quickly.
• Keep it simple! Keep a copy of your general ledger, audited journal entries, financial statements and tax returns in a binder labeled with the fiscal year.