Now is the Time to Develop Accounting Procedures for Next Year

Most businesses that don’t sell, don’t sell because the Business Owners income can’t be verified. If you want to improve the accounting and Financial Reporting for your business or insurance agency, now is the time to prepare. With a few easy steps, you can easily improve your business and we’ve listed them below.

  • Invest in an accounting program like Quickbooks or subscribe to Quickbooks online.
  • Learn how to set up your General Ledger so you can post income and expenses to specific vendors and bank accounts.
  • Enter your income on a daily or weekly basis. Don’t fall 2-3 weeks behind, keep it up to date.
  • If you own an Insurance Agency, save the commission statements and file them in separate monthly folders.
  • Outsource this to your CPA or Bookkeeper, sometimes the cost is worth the time you’ll save.

With 2 months left in the year, now is the time to research and implement your accounting systems for next year. Start by entering November and December so by time January rolls around, you’ll have a routine and your ’09 numbers will be to the penny.

If you have any questions on implementing such a program, please contact us, we’d be happy to discuss it with you.

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