Each January you might be writing your goals for the year. How about putting month-end bookkeeping on your list?
It’s important to make sure your company’s money records are well-organized.
6 Month-End Bookkeeping Tips
So, here are some simple tips to help you.
- Match Your Bank Records: First, make sure that what your bank says you have matches what you think you have. This helps you spot any mistakes or things you might have missed.
- Check Unpaid Bills: Look at any bills you sent out that haven’t been paid yet. It’s important to get this money to keep your business running smoothly and avoid losing out on money you’re owed.
- Record Future Payments and Money You Expect: Write down any money you need to pay in the future or money you expect to get. This helps you understand how much money your business really has.
- Make Sure Taxes are Up to Date: Check that you’ve paid all your taxes. If you’re late, it could cost you more in fines and penalties.
- Create Financial Reports: Make reports that show how much money you made and spent. These reports help you understand how your business is doing.
- Plan for the Next Month: Use this time to set financial goals for the coming month. This keeps you focused on managing your business money well.
Good money management is not just about following rules; it’s also key to making smart decisions and helping your business grow.
If you need help with managing your business finances, please give me a call.
