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Salt Lake City Bookkeeping Blog

Year End Bookkeeping Was Yesterday

Posted by Matt Roberge on Nov 29, 2011 1:24:00 PM

It's that time of year again...year end.  Or are you too late?  If your bookkeeping is not organized and ready for your CPA to review now, then yes you may be too late.  Year end accounting does not start until after 12/31 right?  Wrong.  Here is why:

Tax planning and tax moves need to happen in the current tax year

To many people and business owners find out they have a huge tax liability sometime after January 1st each year.  The problem is that you are much more limited in regards to advantageous tax moves that you can make once the calendar changes over to a new year.  Having a CPA review your bookkeeping and tax situation is crucial late in the tax year right around December.  Your CPA can't give you advice if your bookkeeping system is not accurate and up to date.

Unorganized bookkeeping = unorganized business

If you bookkeeping is not updated and analyzed often then how can you evaluate how you are doing?  Keeping up to date and organized books can provide you with valuable information that can help to run your business and make smart business decisions.

Is your bookkeeping system up to date? 

Are you using your bookkeeping system to aid you in business decisions?

Are you ready for a year end tax review now before the calendar year changes?

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Topics: Business Efficiency, Year End Accounting, Tax Preparation For Year End, Year End Bookkeeping