Well it’s finally December and the snow is starting to fly. You have been working hard all year long and now the end of the year is rapidly approaching. In the mist of holiday get-togethers, gift shopping, and all your other daily activities, you probably have a very long list of things to do before December 31. You want to get it all done and maybe, just maybe find a little bit of time for yourself.
Is your QuickBooks wrap-up on that list?
Take time to utilize the tools your QuickBooks has. Use it to make those reports you need to get that business loan you need to get you through the end of year. Other reports are needed by your CPA to get your business’s taxes filed. Tax time is just around the corner. Depending on your files, if they are already caught up all you have to do click a few buttons here and there to get your reports together. However, if you are like most small business owners, you didn’t mean to leave your records on the desk or in that drawer. Now, all of those papers are waiting for you…
You had customers to take care of and now you are buried by all this paperwork and it really needs to be done ASAP! How can you do to get it into your QuickBooks quickly and maintain accuracy? First off, sort the receipts by the business name or by category. Then open up your file and go through each stack one by one. Once you have finished this, then verify each transaction.
Now that all your transactions are caught up, what’s next? Did you notice that you were putting the majority of transactions in certain vendors or customers? When this happens, it is time to clean up your contact list. You just entered in all your information, so it should be easier to remember who didn’t do business with. You can go through your files and mark those companies and clients as inactive. This will remove them off of your contact list, but it will still keep their information in your file in the background. This way if you ever need that information, then you got it.
Do you have the time to do all of this work before the end of the year?
Here is where we come in. If your QuickBooks is not wrapped up, then talk to us about it. These files are so important for your business and the reports give you insights into your business. The tax deadlines are fast approaching and your CPA is waiting for your reports.