Accounting News and Notes

It’s hard to believe another year has passed…those resolutions made but not achieved, goals and desires that just never came to fruitition, tasks that just never got completed.  It is really easy and  normal to look back at the last year and berate ourselves for things not done - all those things we had on our “to do” list that we just never got around too.  But why not make this year different and stop and take a moment or two and look at all the things you accomplished, the people’s lives that you touched, the kind words spoken, the extra time you took out of your busy schedule to do service projects or better yet, the extra time you took to spend time with your family, your children, your spouse.  Start 2008 off on a positive note by allowing yourself the opportunity to take in the good things…good memories, good achievements, good deeds…of 2007 and appreciate every moment.  Then you can look at 2008 with a new perspective - one of hope, love and anticipation - not of dread, anxiety and a “what next” attitude.

With a new year, comes preparation in everything.  As a great philosopher once said, “The only two sure things are death and taxes” - of course we know different - there are lots of sure things - at least three with the first one being God.  But that statement is true when it comes to taxes.  There are easy ways to make the new year leading up to April a time of finalizing last years financials and getting things in order for your tax deadline without feeling as though you are in a mound of paperwork treading towards a guitine.  Tax time can be a blip on your screen if the right preparation is done.  Here are just a few tips to help you get better organized not just during tax time but the whole year through:

• Keep your receipts in one place and reconcile them on a monthly basis
• File all tax statements, both state and federal in one place with the intent of collecting all things tax related for that year in that one place
• Keep profit and loss statements and balance sheets up to date and reconciled on a monthly basis
• Keep a log of all expenses and reconcile monthly

While it seems like a lot, it can be as simple as have a few bins labeled “Receipts”, “Tax Stuff”, etc. and you toss them in there when you come in the office.  It sure saves lots of time at the end of the month, not to mention the end of the year.

I pray you and yours have the best business and personal year ever and that God greatly blesses you in ways well beyond what you ever imagined.