It's a good idea to make an early start on tidying and preparing your information. As we start to wind up for the year and put plans in place for our business resolutions for 2018, it’s important to look at what worked last year and to start putting everything in order, if it's not already.
This checklist from Xero should help.
1. Decide on employee bonus payments and the withhold the tax required.
2. Pay your vendors and contractors in full by year end.
3. Prepare all of your records.
4. Scrutinise your balance sheet and P&L.
5. Check your income statement for profitability.
6. Understand your cash flow
There are more steps on the checklist that can be found here at Xero. If you're not sure how to get your books in tip top shape to start the new year organised make sure to contact us and we can help call 033795338.