Preparing for the yearly visit to the accountant is never a small task. Gathering all the necessary paperwork takes time but measures can be put in place to make the whole process smoother. This presentation is geared toward those who are at the beginning of their career and would like to get a better idea of what is needed to keep control of their financial information. It can also be helpful to those that have an established business but would like to rethink their bookkeeping process. The most important part is having a consistent system of recording cash flow, what comes into the bank and what goes out. Recognizing that all the information about income and expense has to flow through that account and that those numbers can be verified makes it a little less daunting.
Some of the topics covered will be understanding the basics of financial statements, the essentials of bank reconciliations, filing of 1099’s for those you have hired and what documents you need so that the accountant can prepare your return efficiently.