Mid-Year Tune-up

We are now closing in on halfway through the year, and it's the perfect time to review your bookkeeping for the year and make some mid-year adjustments and payments. This is a great time to make estimates on any income tax you will owe at the end of the year. I know... I know... this is the last thing you want to deal with especially as a business owner. Most would prefer to concentrate on making money and or running their business rather than keeping track of tedious paperwork. I've put together a basic checklist below to help you avoid any end of the year surprises. However, I would like to make your life easier...contact me!!

You will want to do the following:

• Reconcile your bank accounts

• Add any transactions that were not included in your business bank account

• Reconcile your Liability accounts including all bank loans and personal loans

• Make sure your payroll and sales tax accounts are current and correct

• Add any expenses that are not recorded by the bank including mileage expenses, depreciation, etc...

• Review your P&L and make an estimated tax payment

Depending on your bookkeeping needs this could be a short or long process. If you're like most people and would prefer someone else to handle this tedious process please contact me in the contact tab above. I will make this as painless as possible.