EOY Financial Business Checklist
EOY Financial Business Checklist
As the year ends, it’s important to reflect on how you did financially.
EOY Tasks:
· Get your Financial Reports Organized and Ready for Tax Purposes
· Did you categorize all your expenses correctly?
· Go through all your mail and emails.
· Independent Contractors: True Up your Federal Income Tax
We recommend looking at a few standard reports, including your (1) Profit and Loss Statement and (2) Balance Sheet. Your Profit and Loss Statement is the best way to tell where your business stands financially and what your outlook is like for next year.
Taking the time to get your business organized will not only help you save time in the long run, but it will also help you breathe easier, lower your stress levels, and play a significant role in growing your business.
Don’t let weak financial organization keep you from running your business. Instead, prep for the new year with an end of year financial Strategy Session. You should be able to create an Annual Financial Plan based on this year’s P&L; to help create a clear picture of what to expect in the new year.
If you are ready to check your EOY Financial Tasks off your list book a Strategy Session.
