As we wrap up 2024, ensuring your books are in excellent order isn't just about compliance – it's about setting your business up for success in 2025. At BNAS Bookkeeping, we understand that organized finances are the backbone of a thriving business. Here's your essential checklist to ensure you're ready for the new year.
🔍 Essential Year-End Tasks:
Reconcile All Accounts
Match bank statements with your QuickBooks records
Review credit card transactions
Verify all accounts payable and receivable
Review Outstanding Invoices
Follow up on unpaid invoices
Consider year-end write-offs for uncollectible debts
Plan collection strategies for 2025
Organize Tax Documents
Gather W-9s from contractors
Prepare 1099 forms
Collect receipts for tax-deductible expenses
Inventory Assessment
Conduct physical inventory count
Update QuickBooks inventory values
Document any write-offs or adjustments
Financial Report Review
Generate profit and loss statements
Review balance sheets
Analyze cash flow statements
Compare actual results with 2024 budget
🌟 Planning for 2025:
Set new financial goals
Create a realistic budget
Plan for major investments or expenses
Review pricing strategies
Update financial policies
Need Expert Help? Don't let year-end bookkeeping overwhelm you. As a Certified Advanced QuickBooks Online ProAdvisor with over 15 years of experience, I can help ensure your books are accurate and ready for 2025. Schedule your free consultation today!