Don’t Wait Until Year End to Talk to Your Accountant
As an entrepreneur you have a lot of great ideas. It can be easy to think that those ideas are the most important aspect of your business. Of course, your business wouldn’t exist without your creativity, but what’s even more important is that you manage your finances in such a way that your business is sustainable long term. So what does that mean? How can you set yourself up for success moving forward? One simple answer. You need a great accountant.
Too often we see business owners who wait until the very last minute to start thinking about their finances. They’ve spent the entire year stuffing receipts into an old shoebox and on December 1 realize they haven’t done enough to prepare themselves for the end of the year. Business owners who wait until the end of the year to consider their accounting are more likely to end up in serious financial trouble.
Start Your Year With A Check-in
At the beginning of every year make a habit of scheduling time to meet with your accounting team. You might prefer to focus on bigger, more exciting business related issues. However there is nothing more important than squaring away your finances from day one. Make this part of your yearly routine. When you start off with proper finance maintenance on your mind you’re more likely to continue in the right direction for the rest of the year.
Plan To Meet Quarterly
Once you have your beginning of the year meeting with your accountant on the books go ahead and pre-schedule quarterly meetings as well. There is no easier way to make sure that that this happens than to schedule them regularly and in advance. If you don’t keep your own calendar, make sure that the right people on your team know that this is a priority.
Make Your Finances A High Priority
As an entrepreneur you may be focused on your craft, or your product, or even managing staffing issues. And those things are very important. However if you’re not careful at managing your money you won’t have staff to worry about. Make your finances a priority each and every month in order to grow your business.
We see this problem come up time and time again when well-meaning business owners wait until the very last moment to speak with their accountant and far too often they end up experiencing financial difficulties because they end up with uncovering problems that weren’t caught in time. If you are in need of a team to help you manage your business as finances, contact us today.