End of the Year Bookkeeping Tips

Ever wonder what you and your company need to do at the end of the year when it comes to your bookkeeping?  Ever think to yourself, "Did this client pay already?" or "How much did I spend in terms of my budget this year?"  Before the new year rings in, here are a few pointers about what to do to wind your books down for this year and gear your company up for the next year.

These pointers have been provided by Cloe Sill, a fellow bookkeeper.

"It’s that time of year – time to clean up your numbers and make sure your books are ready for the end of the year reports and the upcoming tax season.  If you own a small business, or even if you’ll just be dealing with your own personal finances, the more organized you are at the end of year, the easier tax time will be for you.  Here are some basic tips for things you can do now to organize and prepare in the next month or so:

1. Review last year’s tax form and compare it this year’s expenses and income.  Note any extreme discrepancies and look into them."

To read the rest of the article, click here.

Source: Cloe Sill