At year end, there are a few things you might want to think about. You'll be closing out your books. You need to evaluate the operations you'll need to do in order to get your software and hardware ready for the new year. Here are a few things (not an inclusive list, by any means):
- Review closing procedures or contact your support provider to make sure they will be available
- Review updates like tax tables, Accounts Payable 1099s, W-2s, etc., that may need to be done by year end or shortly after.
- Contact your CPA or accountant to find out if they can review your financial records before year end to make any corrections
- Make sure bank accounts are reconciled and up to date
- Review physical inventory procedures and begin to make plans for taking a physical inventory
- Review backups to make sure they are working
- Consider archiving backups at year end
- Review your hardware to make sure it is adequate for the year ahead.
- Think about any reports that need to be printed at year end
I'll look over this later and think of 10 more items...but they'll have to go in another post.
