Here’s a quick checklist with details to help you stay organised:
- Reconcile All Your Accounts
Compare your bank and credit card statements with your bookkeeping software to ensure all transactions are accurate and accounted for. Resolve any discrepancies now.
- Organise All Your Receipts
Gather all receipts for business expenses, both physical and digital. Use a scanner or app to digitise them and store them in a cloud-based folder for easy access.
- Review Invoices
Check for unpaid invoices and send reminders to clients. This helps improve your year-end cash flow and ensures you don’t leave money on the table.
- Run Financial Reports
Generate your Profit & Loss, Balance Sheet, and Cash Flow statements to get a comprehensive overview of your business’s financial health. These reports are essential for tax preparation.
- Prepare for the New Year
Use insights from last year’s data to set financial goals, create a budget, and plan for growth in 2025.
Knocking these tasks out now will make tax season a breeze and ensure you start the new year stress-free.
Need help? Get in touch, and we’ll make sure your books are in top shape! Cheers to a successful new year!
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