Rounding the Corner to Year End

I can’t believe it is already October! We have finished the third quarter of the year and are rounding the bend toward year-end and (I know, don’t say it) tax season. This is the best time of the year, though, to start thinking about prepping for tax season. A few year-end housekeeping tasks worked through now can save time and stress later. For small businesses, what are a few tasks you could handle now?

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• Make it a priority to go through those piles of receipts that have been shuffled aside and ensure the information is entered into your accounting system and you have a paperless copy of the receipt – then shred!
  

• Verify all your bank and credit card accounts are reconciled and up-to-date
  

• Review your Profit & Loss and Balance Sheet for any posting issues or questionable balances
  

• Verify you have all information needed for any independent contractors who will be receiving a 1099
  

• If you are new (or newer) to QuickBooks Desktop or QuickBooks Online and need training, book sessions now before the rush of tax season
  

If you need assistance with any of the above, please contact us now. We take the stress out of financial management and would be happy to help.