{"id":17584,"date":"2024-12-07T23:15:06","date_gmt":"2024-12-07T23:15:06","guid":{"rendered":"https:\/\/heyerinc.com\/2024\/12\/07\/a-year-end-accounting-checklist-for-your-southeastern-fl-business\/"},"modified":"2024-12-07T23:15:06","modified_gmt":"2024-12-07T23:15:06","slug":"a-year-end-accounting-checklist-for-your-southeastern-fl-business","status":"publish","type":"post","link":"https:\/\/www.heyerinc.com\/blog\/2024\/12\/07\/a-year-end-accounting-checklist-for-your-southeastern-fl-business\/","title":{"rendered":"A Year-End Accounting Checklist for Your Southeastern FL Business"},"content":{"rendered":"
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Black Friday may be for big corporations but small business Saturday might be for your Southeastern FL business. Are you taking advantage of it? <\/span><\/p>\n

I think in this environment of so much broken trust, a small business — like yours perhaps? — can steal market share by being authentic and full of integrity. So you have a true opportunity.<\/span><\/p>\n

But we can ride the Black Friday coattails and remember that customers will absolutely look for deals this time of year. After all, everything is a lot more expensive than before (despite the Fed saying inflation is cooling).<\/span><\/p>\n

But deals and discounts aren’t everything.<\/i><\/span><\/p>\n

People ARE willing to invest in businesses they believe in, but they can\u2019t if they never find out about you. Do Southeastern FL people know what you\u2019re all about? <\/strong><\/span><\/p>\n

If not, that\u2019s something you want to prioritize<\/i>. There\u2019s still time this week to do it.<\/u> The U.S. Chamber of Commerce even has this <\/span>\u201ctoolkit\u201d<\/u><\/span><\/a> to help you get started.<\/span><\/p>\n

Because doing even just a little promotion and talking about it on socials, in email blasts, and even by word of mouth will put it on people\u2019s radar. While you can\u2019t make the \u201chorses drink\u201d you can lead them to the good water (aka your business). If you don\u2019t, they\u2019ll find the closest watering hole every time. <\/span><\/p>\n

We\u2019ve got more to say about that if you want some outside insight. Or if you just want some professional guidance on bookkeeping, accounting, or any other business financial decision, don\u2019t hesitate to reach out: <\/span><\/p>\n

calendly.com\/ralfheyer\/30-minute-meeting<\/a><\/strong><\/span><\/p>\n

But, with regard to your books, I\u2019d like to start that conversation right here today. We\u2019re in the last month of 2024 and there are year-end accounting things to get done before it\u2019s over. Let me show you.<\/span><\/p>\n

<\/span>A Year-End Accounting Checklist for Your Southeastern FL Business<\/strong><\/span> <\/strong><\/span>
\u201cOpportunity is missed by most people because it is dressed in overalls and looks like work.\u201d  \u2013Thomas Edison<\/i><\/span><\/p>\n

EOY is closing in quickly \u2013 which means you\u2019re probably juggling too many year-end priorities for your business. Hopefully, bookkeeping is somewhere near the top of your list. <\/span><\/p>\n

Because even seemingly minor bookkeeping mistakes from this year that sneak into 2025 unnoticed can mean significant<\/i> tax penalties when filing season arrives and can result in skewed budgeting and cash flow problems.<\/span><\/p>\n

You want to close the books in 2024 with a clear conscience, and a solid grasp of your business\u2019s financial standing \u2013 so you\u2019re in the best position to have a financially healthy 2025. <\/span><\/p>\n

So, here\u2019s a short bookkeeping checklist to help you during your year-end accounting process:<\/span><\/p>\n

1. Gather Your Financial Records<\/u><\/strong><\/span><\/p>\n

You\u2019ll want to start with the big three \u2013 your income statement, balance sheet, and cash flow statement. <\/span><\/p>\n

Overall, you\u2019re checking for the accuracy of your records by 1) making sure all income streams match your invoices and are properly categorized, 2) making sure expenses are categorized correctly and are supported by receipts or documentation, and 3) identifying any overlooked deductions (like mileage or equipment depreciation, for instance). <\/span><\/p>\n

2. Reconcile Your Bank Accounts<\/u><\/strong><\/span><\/p>\n

Start by gathering your bank statements for all your business accounts (including credit cards and loans) for the year. Then pull out your general ledger or bookkeeping software for comparison. <\/span><\/p>\n

You\u2019ll want to check that\u2026<\/span><\/p>\n