We are now officially past the half way mark for 2017 and taxes are done, hopefully. Now is a good time to review your internal bookkeeping processes. Not all processes are (or should be) set in stone. As the business grows and changes, some of the bookkeeping tasks you do may not make sense anymore or may just need to be tweaked a little bit. Just because it is the way you have always done it doesn’t mean it’s always right. When looking at these processes, start with how easy or difficult it was to prepare your taxes for last year. Did your accountant ask you for additional things you had to dig up? Did your return result in you having to pay too much in taxes? Are there legitimate expenses you feel like may not have been accounted for?
Another part of the review might be a technology review. When you review your processes do you feel like some of them might be outdated? There are now a lot of tools/apps online that you can take advantage of to make you and your business more efficient. As a result, you may be able to automate some tasks that are currently being done manually, saving you time and your employees time.
Still not sure how to go about this process or feel like you need another set of eyes to help you tackle these problems? OSS offers consulting/training by the hour. You can come in to our office and we can review your QB file with you, as well as, talk out some of the things that you do now and recommend some changes if needed.
