Year-End Woes? Tally Can Help!

The holidays are officially over and it’s time to get back to business, quite literally. It’s year-end for many businesses, meaning now is the time to take a good, long look at the books for your business. It’s time to report on your businesses financial well-being to owners, shareholders, and all other interested parties and square up the year to begin another.

The end of the year is arguably one of the most important, but stressful times of year for businesses. The year-end is a great time to study the finances of the business to help owners and managers plan for a more successful coming year and get things in shape for tax season. There are a lot of year-end bookkeeping and accounting measures to add to the to-do list. Year-end procedures often include tasks such as:

• Reconcile Accounts: At the end of every year, you should make sure your bank statements, accounting software, and bank accounts match each other.

• Year-End Adjustments: Must be made to make sure your ledgers match the current state of the books based on a variety of things that happened throughout the year.

• Invoicing: At the end of every year, your business should double check that you have both paid all your outstanding invoices and sent invoices for all your goods and services rendered during the year.

• Collections: If you have any outstanding accounts from the previous year, consider your collections options to get paid for your work and goods.

• W-2s, 1099s, and Payroll Taxes: All need to be collected, paid, and sent to employees in preparation for tax season.  

• And more! The list unfortunately goes on and on to include assets, budgets, backups, P&L statements, and more. The year-end reporting and bookkeeping process can be a bit overwhelming!

Many business owners find the year-end tasks utterly stressful and quite frankly, maddening. That’s where Tally Services can come in! We have worked with many small to mid-sized businesses in Northern Colorado to provide contract accounting and bookkeeping services. One or more of our team of accounting experts will come to your office as often as you need to provide high-level accounting services to knock out your year-end to-do list. Our team is highly skilled and able to handle any year-end tasks necessary to help you prepare for the coming year.

The best part? Our services are much more cost-effective that hiring a full-time person because you don’t have to pay benefits, employment taxes, or even training. We’ll help you breeze through your year-end list by training your employees, creating systems, and using our unique expertise to handle even the most difficult of cases.

Let’s work together to reduce your year-end stress and get your business’s books in shape. Tally Services, located in Fort Collins, Colorado is a full services bookkeeping and accounting firm that can help you with your year-end tasks, no matter where your business is located. We’ll meet you right where you are and provide practical and affordable solutions to your accounting needs. Contact us today to get started!