Keeping Up with Your Bookkeeping During the Holiday Season

Keeping up with your bookkeeping during the holiday season is essential for small business owners. We have some tips on how to keep your sanity during the holiday hustle and bustle and head into the new year feeling organized and prepared for tax time.

KEEP UP, DON’T JUST CATCH UP

Start preparing early. Waiting until the last minute during this very busy time of year will likely lead to a headache for any small business owner. Here is a checklist to keep up with:

• Are your books up-to-date?
• Have you sent out all your invoices?
• Are your accounts in order?
• What does your cash flow look like?
• Have you implemented the right automations?

TAKE ADVANTAGE OF TECH

Stay on top of your business’s accounting tasks and save hours with the help of the right accounting platform. At Anderson, Adkins & Company we offer our clients QuickBooks Cloud Accounting. Have everything you need regarding your accounting process—estimates and invoices, expense tracking, cash flow statements, balance sheets, profit and loss reports, etc.—all at your finger-tips in a matter of seconds. While you will have everything organized in one place, you can access it from wherever you are.

GIFT WITH GRATITUDE

Rewarding your employees for their hard work with year end bonuses and holiday parties are great ways to thank employees. Seek help from our team at Anderson, Adkins & Company to correctly account for these expenses and be advised on the tax rate applied to the bonuses.

HIRE HOLIDAY HELP

In addition to hiring extra employees to assist with your business operations during the holiday season, consider utilizing the help of our tax professionals at Anderson, Adkins & Company. This will free up your time to focus on other areas of your business and reduce the stress of keeping up with the holiday rush.

TO-DO: A TASK A DAY

The holiday season is stressful, especially if your business operations are disorganized. Create a plan with guidelines regarding due dates, late penalties, and how-to-pay infrastructure. Our advice on how to get started is to do one accounting task a day, making your long to-do list much more approachable and manageable.

The independence of being a small business owner is rewarding, but you’re not expected to do it all on your own. At Anderson, Adkins & Company, we are here to help by allowing you to focus more on running your business as well as enjoying the holidays. Reach out to us today to discuss your needs and how our firm can help you with keeping up with your bookkeeping during the holiday season.