It is most certainly a given that no one really looks forward to tax time. Mention and the groans could probably be heard from space!
Small businesses struggle with gathering the information needed to do their tax returns. The appointment is set to meet with their accountant and yet they know they have not kept up with the daily, weekly, and monthly bookkeeping responsibilities. The only way your tax professional can properly complete your corporate and individual returns is for you to have your bookkeeping housekeeping in order.
Your financial accounting work should be accurate and up to date.
Small business owners wear many hats but the most important one may be financial in nature. Keeping accurate and current books all year long makes tax time easier:
- The costs associated with tax preparation is lower.
- The returns can be completed quicker.
- Accuracy is improved as the books have been properly maintained all year.
Ok so what do we do?
Don’t wait until December 31st to make up for lost time and clean up your finances.
- Keep your financial accounting up to date all year long.
- Be sure to book bills to the proper expense accounts.
- Perform a bank reconciliation every month!
- Insure revenue is booked to the proper revenue accounts
Make your tax time easier. Run your business better and healthier and if you need help, we are here. Expex is a simple solution for a healthier business. Just think, wouldn’t it be nice this time next year to say, “No Problem. I’ve got this!”?
Contact us to see a demo of Expex.