The end of the year may be an exciting time, but as a small business owner, your job is not over yet.
Before you go out and purchase your 2017 party hat and sunglasses, you need to make sure that your business is ready for the new year as well. This is the time of the year where your business needs you the most. But what can you do to make sure it is ready? Well, there’s plenty in the areas of accounting and IT that will get your business ready for 2017–and any year that follows. Here are a few things you can do to help prepare your small business for the end of the year.
End of the Year Checklist
- Analyze Cash Flow Statements – You need to know how you spent your money throughout the year, and make adjustments to make it more efficient for the next. Make sure that you check the operating, investing, and financial activities of your business.
- Collect all supporting paperwork for expenses, asset purchases, depreciation, and sales to expedite your bookkeeper’s job and save you money on fees and taxes.
- Verify Vendors – You should verify that your vendors’ information is up to date. Things like addresses, emails, phone numbers, and contact names.
- Back Up Your Documents – Store your important documents or files on a backup hard drive or the cloud for safe measures. If your computer’s hard drive crashes, you’ll have at least saved the important stuff. Storing it in the cloud makes it easier to access and edit on the fly.
- Back Up Your Customers Information– If anything, make sure you back up your client information. Customers are the lifeblood of your business, and it’s important that you know you can contact them if your data is corrupted.
Your company needs you before the clock strikes midnight. To learn more about how commercial insurance policy could serve your business, contact Lou Aggetta Insurance Services in Pleasant Hill, California today.