Small Business Owners

Accounting Goals: Have you started them?

Happy New Year!

It is already January, seems like yesterday we were planning our goals for 2018. Nevertheless, it is a great time to reflect on past results and prepare to take on 2019 by storm with your small business. The beginning of the year is a great time to set those goals in motion that you have for your business. It is a time to set the foundation so that you can put yourself in the best possible place to achieve them in 2019.

If you haven’t set any goals, then now is the best time to create those goals based on past results and future objectives for your business. As you start to put together the goals for your business, being clear on the type of growth you want your business to have specifically in the area of revenue is crucial. This will be your guide in regards to products and services, price points and costs to create the product and services. The more specific you are in regards to your business goals, the easier it becomes to keep track of the goals themselves and measure progress.

Along with the goals that you will be putting together for your business, this is also the time where there are many filing requirements for year end. There are payroll filings, 1099 filings, yearly filings depending on business types and finally business tax filings. It is important that if you have neglected your books last year and are behind, to take the time now to get your business accounting books up to date before you enlist the help of a tax accountant. The more organized you are, the less time and money you will spend in the tax accountant’s office.

Lastly, if you are having a difficult time staying on top of your business books, this is the time to work with an accountant to stay on top of your books. You can start the year on the right foot financially in enlisting the help of an accountant to keep your books organized and correct, thereby creating less fear and stress around your business accounting.