Business Accounting

Managing finances can be daunting and time consuming but don’t let yourself be overwhelmed by the numbers. Here are the essentials that you will need to take on the task.

21 STEPS TO TACKLING BUSINESS ACCOUTING

1. Check cash position

2. Record transactions

3. Document and file receipts

4. Review unpaid bills from vendors

5. Pay vendors, sign checks

6. Prepare and send invoices

7. Review projected cash flow

8. Balance your business checkbook

9. Review past-due receivables

10. Analyze inventory status

11. Process or review payroll and approve tax payments

12. Review actual profit and loss vs. budget and vs. prior years

13. Review month-end balance sheet vs. prior period

14. Prepare revised annual P&L estimate

15. Review quarterly payroll reports, and make payments

16. Review sales tax and make quarterly payments

17. Compute estimated income tax and make payments

18. Review past-due receivables

19. Review your inventory

20. Fill out IRS forms W-2 and 1099-MISC

21. Review and approve full-year financial reports and tax returns

Ewald, Kristin “Business accounting: 21 steps to tackling this like a boss.” 27 September 2019

Silicon Harbor Business Services is based in Mount Pleasant, SC.  We provide solid, practical advice to small business owners and select individuals.  

We work with Quickbooks Online, Quickbooks Desktop and Quickbooks Enterprise. For Quickbooks Online, we work with clients in Mount Pleasant, Charleston, Philadelphia, and across the US. For Quickbooks Desktop and Quickbooks Enterprise, we only work locally in the Charleston, SC area.

For a complete list of our services, please click here. If you have any questions about online bookkeeping or business consultancy, we’d love to hear from you. Please contact us here.

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