Things you can do to help minimize
year-end bookkeeping errors

Get in the habit of recording all transactions frequently, making sure they are recorded at each month end. Missing something might throw off your entire year-end report and you will have to spend an unreasonable amount of time finding the omission.

Record daily transactions 
1

Accruals, deferrals, and asset adjustments need
to be properly recorded at year-end to ensure that
your financial statements are complete, accurate,
and comparable to previous fiscal years.

Capture year-end adjustments
2

The easier and more distinct your information is, the easier it’ll be for you or someone else
to find that information.

Organize your files
3

This can be tough, especially when you factor in raises and taxable benefits for multiple employees over the course of the year.

Know your payroll tax obligations
4

Most software programs will send updates every time there are changes to tax laws. You might not be compliant if you’re working with an older version of your accounting software.

Update your software  
5

It’s best to hold onto any old financial results and receipts in the event that you’re ever audited or need to secure financing.  

Keep your old records 
6

Your bookkeeper should be able to help you find tax-saving opportunities for your specific line of business.

Make sure your bookkeeper 
understands your business  
7
Things you can do to
help minimize year-end
bookkeeping errors

Accruals, deferrals, and asset adjustments need to be properly recorded at year-end to ensure that your financial statements are complete, accurate, and comparable to previous fiscal years.

Capture year-end adjustments
2

This can be tough, especially when you factor in raises and taxable benefits for multiple employees over the course of the year.

4
Know your payroll tax obligations
Update your software  
5

Most software programs will send updates every time there are changes to tax laws. You might not be compliant if you’re working with an old version.

It’s best to hold onto any old financial results and receipts in the event that you’re ever audited or need to secure financings.

6
Keep your old records 
7
Make sure your bookkeeper 
understands your business  

Your bookkeeper should be able to help you find tax-saving opportunities for your specific line of business.

Get in the habit of recording all transactions frequently, making sure they are recorded at each month end. Missing something might throw off your entire year-end report and you will have to spend an unreasonable amount of time finding the omission.

Record daily transactions 
1

The easier and more distinct your information is, the easier it’ll be for you or someone else to find that information.

Organize your files
3

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