With the end of the 2010 tax season behind you, the last thing you probably want to think about is your finances. But depending on your experience this last year, this may be the most important time to be thinking about getting your finances in order.
As an accounting firm, one of the most important things we like to emphasize is being organized with your company finances. There are several reasons to be organized. First, keeping records of your finances can greatly help you evaluate where your money is being spent and where it might be better spent.
Second, keeping thorough records helps you to be more prepared at tax time. As an accounting firm, we have seen the difference between clients that have taken the time to be prepared for tax season and those who aren’t. It may not seem like a huge deal, but we can attest that those who are prepared are much less stressed and are happier in the end because get their taxes done that much faster. And the faster you get your taxes done, the sooner you can get your refund.
With this said, we highly recommend using a bookkeeping software such as Quickbooks. These programs can help you keep and stay organized. They do this by allowing you to track your accounts payable and receivable, invoices, bank account balances, and payroll. You can also track inventory, owner equity, loans, and even print checks. Bookkeeping programs are effective and track almost everything you need to make sure your finances are organized and being used effectively.
Getting ready for your taxes can be a painful process, but imagine hitting print in a bookkeeping program and grabbing a prepared file instead of looking through a box of receipts, crying, and adding up hundreds of figures at the last minute, trying to beat the IRS deadlines. Keeping things in order is a much simpler, less stressful, way to approach the inevitability of tax season, so get a bookkeeping program like Quickbooks today, and start making your life a whole lot easier.