Why You Need a Year End Bookkeeping Review
As the year wraps up, I want to encourage all solopreneurs to engage in a little financial self-care, by reviewing your 2021 books! There are several reasons to review your financial records at this time of year. They can benefit from the eye of an expert. If you don’t already have a bookkeeper and would like some oversight, schedule a review with someone! The financial insight will go a long way for your business.
Here are my top two reasons for reviewing your books now.
Tax Prep
First of all, straightening out your 2021 books to prep for tax season simply makes sense. Hiring an expert to help you do this can ensure that your books are accurate. That extra bit of readiness will feel so good come tax season, I promise! It will save you some stress and last minute rushing come tax time. Think of it as a holiday gift to yourself!
Where Did You Make Your Money?
My second reason for scheduling a bookkeeping review with a professional is so that someone with a trained eye can go over your books and help you discern where, when, and from what you made the most money. This kind of insight is invaluable to any small business, especially if your goal is growth. Your 
financial records hold this info. Work with someone willing to help you find it! For more about finding and working with a bookkeeper, check out my post “How to Get the Most Value From Your Bookkeeper”. The insights you gain from a good bookkeeping review could help shape your plan for your business in 2022 – all the more reason to review them now.
Going over your books with a professional will save you a lot of stress and provide you with knowledge needed to run a successful business. Please consider scheduling a year-end review – you’ll thank yourself later! I offer bookkeeping services along with strategic advising. If you’re looking for someone to work with, don’t hesitate to schedule a curiosity call with me.
Here’s to tying up your financial loose ends!
☮
Angela
things they get trained on are just the types of things small business owners often miss or botch on their own taxes, simply because they don’t know what they’re missing.
with me if you want to know more about how the process might apply to you.
So, what do you gain when your records are well-kept? Errors are corrected, which can potentially save you money right out the gate. You incur no late fees on taxes because everything is organized and filed on time. You can use your reliable records to glean insights into when and how money is made in your business. You have less stress about finances because you know everything is being tracked correctly. And finally, you have more time to do the things in your business that you actually enjoy. Should you be spending your time doing bookkeeping when you’re actually really fabulous at making art, building cabinets, providing live entertainment, etc?
#5 – Grab a copy of last year’s tax return and review the entries you had last year. Or if you have a digital file from last year, compare the statements with the information you have for this year. This can jog your memory so you know you haven’t missed anything. The last thing you want is to have to file a corrected tax return because you left something out, so just take the time and make sure you’ve got all of your information.
financial records hold this info. Work with someone willing to help you find it! For more about finding and working with a bookkeeper, check out my post