Small Business in 2021

Small Business in 2021

If you’re reading this, you can call yourself blessed to have made it through 2020. It was a tough year for many of us and we wish you the best. This new year 2021 offers us all a new start and wizened perspective. We must keep working hard to keep your small business on track and pointed in the right direction. 

As bookkeepers, we receive many of our Accountant referrals and other peer business-to-business referrals this time of year. First-quarter forces all of us to review the financials from the previous, now closed year, as well as come up with a roadmap, budget, and business plan forward.

Tax Preparation

Give us a call if you are forced into compiling your bookkeeping data for your tax preparer and have nothing to show for it.  There are 3 steps to get started.

  1. Start with your bank statements.
  2. Add your credit card statements.
  3. Find your other source documents like loan papers and receipts.

We help you put it all back together. More importantly, we help you set up a system to know what to look for in keeping a tight ship as it pertains to your bookkeeping moving forward into this new year.

The Importance of Regular Reporting

March and April have their own tax deadlines but your small business bookkeeping should be fluid enough that you supply yourself with regular reports throughout the year. We find most business owners have the numbers in their head or seat of the pants. It is something else of an entirely different level when you have these reports monthly, in black and white. These reports will help you with your tax planning, sales tax, and other due dates, budgeting and expansion concerns, etc. Put your accounting in order now. We can clean up 2020 for you or we can draw the line at the start of this year for a whole new way of doing business.

If you don’t know what you’re making and where your money is going, line by line, then who does? We’ll get it working for you. Give us a call and let’s finally get this scheduled.