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Year-End Bookkeeping and Accounting Checklist for Small Business Owners

xendoo

Accurate records ensure reliable financial statements. Our online bookkeepers provide catch up bookkeeping services , so you can focus on the future. . Review Your Financial Statements. Click here to learn more about the key financial statements. . Xendoo is here to help.

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How to Prepare Your Small Business for the New Year

xendoo

Review Financial Performance. Analyze your business’s performance from the previous year by reviewing your key financial statements. The Cash Flow Statement provides visibility into when cash flows into and out of a business, and how cash balances have changed over a specific time period. Prepare for Tax Season Now.

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The Top 5 Benefits of Catch Up Bookkeeping

xendoo

The best practice is to consult your updated accounting software or financial statements, which provide insight into your true financial position. The financial statements report revenue, expenses, and profitability, all of which contribute to the Opening Balance. Behind on your bookkeeping?

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What happens if you get audited and don’t have receipts?

xendoo

Some examples of costs that you’ll need receipts for include: Office supplies and equipment Inventory purchases Advertising and professional services Company training and employee education Travel expenses Since this isn’t an exhaustive list, it’s best to track all your business receipts and update your records regularly.

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What happens if you get audited and don’t have receipts?

xendoo

Some examples of costs that you’ll need receipts for include: Office supplies and equipment Inventory purchases Advertising and professional services Company training and employee education Travel expenses Since this isn’t an exhaustive list, it’s best to track all your business receipts and update your records regularly.

audit 52
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Finance and Accounting Outsourcing: Benefits for SMBs

Snyder

Managing finance and accounting in-house or outsourcing for SMBs? In-house accounting for SMBs Outsourcing for SMBs 2. Benefits of finance and accounting outsourcing for SMBs 3. When should I consider accounting outsourcing and bookkeeping services? Synder is a great example of such smart cloud accounting.