It’s that time of year once again where we tend to make some New Year resolutions. For most of us, these usually tend to revolve around getting healthy, losing some weight or trying a new skill in the New Year. But one area people tend to forget about is financial resolutions. One of the best ways to keep your finances in order is to improve your bookkeeping skills and be on top for the New Year.
7 tips to get you organised for the New Year
1. Get organised
2. Don't miss your December and January deadlines
Many businesses will close around the 21st of December year, and some even earlier. Don’t forget deadlines, such as activity statements and tax returns. Have a chat to your bookkeeper or tax accountant before Christmas for any required assistance.
3. Payroll and leave allowances
4. Public holiday entitlements
5. Keep your work and personal finances separate
6. Use bookkeeping software
7. Planning ahead
Planning for 2021
At Charter Partners we can offer assistance in bookkeeping including services in day-to-day transactions, income and outgoings, producing financial reports, processing payments, conducting banking activities and reconciling reports and third-party records. We can also offer services in business mentoring, financial planning, financial forecasting and taxation planning.
Author
Anthony McPhee, Principal
B.Bus (Accy) QUT | FCPA, SSA (SMSF Specialist Advisor with the SMSF Association) & Registered Tax Agent
Anthony has over 25 years accountancy, taxation and superannuation (SMSF) experience. He eagerly welcomes a challenge and his passion is in small business accounting, superannuation, consulting and taxation advice. He provides real business benefits for each of his clients and is well regarded for his succinct and accurate accounting skills. Anthony is also a self-managed superannuation fund (SMSF) specialist with Australia’s leading SMSF body, The SMSF Association.