Business Resolution and goal tips
Thu Feb. 18th 2016
Accounting Resolutions -2016
The beginning of the year is a great time to look back on the past 12 months to help prepare for the next. Here are a few useful accounting tips that Norton Chartered Accountants have designed to get your business ready.
New Year goals are not just for people wanting to get fit and healthy, they can also be used for your business to help stay in top shape for the coming year. As money is what matters the most to your business, looking over at your business's financial health is a great way to identify improvements.
Norton Chartered Accountants top tips:
- 1.Review your financials:
It doesn't have to be the financial year end to go through your businesses sales receipts and invoices to make sure all the figures are adding up. Having quality accounting software makes this earlier for you and does most the work automatically.
- 2.Talk to your accountant:
A great way of getting your accounts in order is to share them with your accountant to have him/her check over them. Some Accountants might not want to check the figures until closer to the end of the financial year, however a quick look before hand is a great way to get a rough idea on your next tax bill. Gathering the knowledge sooner rather than later ensures you will be able to avoid unpleasant surprises.
- 3.Review growth, revenue and sale goals:
Take some time to reflect on the past year and ask yourself these questions:
- -Did my business grow?
- -How did our revenues and profits compare from last year?
- -Are our sales trending up?
- -Did we achieve our goals from last year?
If business hasn't improved, ask yourself why, and figure out more. This is when it is a good time to visit your accountant for professional advice. Norton Chartered Accountants can help you with the coming years financial planning that will help you get back on track.
- 4.Stay up-to-date with tax law and deadlines
Tax laws and regulations are known for changing on a regular basis. Talk to your accountant to make sure you're up-to-date, and understand how the changes affect your business.
If you have any questions about any of the following tips, or you think you could use professional advice, please visit our website to organise an appointment.
Norton Chartered Accountants, Auckland.