Year End Part Four: Business/Industry Specific Tasks

November 29, 2023

The end of the year is an excellent opportunity to take care of those tasks that are specific to your business or industry. Do you carry inventory? This is a good time to conduct a full physical count and make adjustments. Do you have payroll? Make sure to check the amounts you have reported to the state and federal authorities against what you are showing in your payroll system. The same can be said of any sales taxes you have collected and remitted. Double check your numbers. What other tasks does your business require?



Depending on your business, the end of the year may be a slower time that allows you opportunity to address those items on your task list that keep getting put off. Clean up old files on your computer and in your cabinet. Look through your subscriptions to determine if you are paying for things you aren’t using any longer. Delete old emails! Or, if you’re afraid that maybe someday you’ll need it, then archive it where you can retrieve it later. Good luck, Happy Holidays, and Happy New Year!


The True Cost of DIY Bookkeeping

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For many small business owners, doing your own bookkeeping feels like the responsible thing to do. It saves money, keeps you in control, and seems manageable, at least at first. But what most business owners don’t realize is that DIY bookkeeping often comes with hidden costs. Over time, those costs can add up to far more than hiring a professional. Let’s take a closer look at the real cost of doing your own books. 

What Your Bookkeeper Wishes You Knew Before Tax Season

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Cash Flow vs. Profit: What Business Owners Get Wrong

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Many small business owners assume that if their company is profitable, they must be financially healthy. Unfortunately, that’s not always true. One of the most common financial misunderstandings is confusing profit with cash flow . While they are connected, they are not the same—and understanding the difference can protect your business from serious financial stress.