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Bookkeeping Tips for the New Year

The New Year is the perfect time to make positive changes to our personal and professional lives. It is a time of new beginnings. As accountants, one of the ways we like to start a new year off on a good foot is by evaluating how we can continue strengthening our reputation for excellence. We’d like to advise others to do the same. With this in mind, we’ve laid out a few bookkeeping tips to follow in 2021.

The new year is the perfect opportunity to review some bookkeeping best practices. Here are some tips!

Organize Your Records

Many people hope to remain organized every New Year, but their resolve to do so dwindles as the year goes on. But organization is especially crucial for bookkeepers. Still, it’s natural that some people may have let their organizational best practices go by the wayside during the chaos that was last year.

Use the New Year as an opportunity to organize all of last year’s files. People tend to get sloppier with digital record-keeping because they can pull everything up with a quick search. But if your digital folders are looking messy, now’s a great time to come up with a new scheme.

Keep Records Daily

The job of bookkeepers is all about keeping accurate records. To tackle this mountain load of work, there’s no better way to do so than by doing a fair share of record-keeping every day. Too many novice bookkeepers tend to let their daily tasks pile up. But once you get too far behind, it can be challenging to keep up.

At the beginning of every day, make a list of all the bookkeeping tasks you hope to achieve. That way, you end every day feeling accomplished.

Use Digital Due Date Reminders

In the flurry of tasks that besiege bookkeepers, it can be all too easy to lose track of a few deadlines. Payments and payables need completion every which way—from payroll, to taxes, to taxes. But there is no excuse for a bookkeeper to miss a deadline, getting your small business stuck with a late fee.

In the old days, people would write reminders of due dates and deadlines on paper calendars. In the digital age, this has been digitized and become more advanced. Make use of the many due date reminder systems in place on your technology. Consider setting timed reminders, so that you get hit with an additional notification when it’s officially time to complete that task.

With these bookkeeping tips in mind, you’re bound to have a successful 2021. 

Contact Bowman & Company Today

Bowman & Company CPA, PC provides all of our individual and small business customers with experienced, accurate, and affordable financial services. Our financial services aim at decreasing your taxes and increasing your net worth through responsible, timely, and accurate record keeping. We offer our services to clients throughout the Washington, D.C. metropolitan area including Maryland and Baltimore County, Columbia, and Howard County. For more information on our offerings, contact us online or call us at (410) 381-8121. You can also find us on Twitter,  Linkedin Facebook, and Youtube.

 

This entry was posted on Thursday, January 7th, 2021 at 2:21 pm. Both comments and pings are currently closed.