Tips for Closing Your Financials for the First Quarter
March 31st marks the end of the first quarter for all companies that close their books on December 31st. This is the time to clean up your books so that you can send financial statements to your CPA for tax planning purposes. Here are some items that need to be completed at the end of the quarter:
Reconcile all your bank, loan, lines of credit, and credit card statements through March 31st
Review your Income Statement (Profit & Loss) from the beginning of the year through March 31st
Review your Balance Sheet from the beginning of the year through March 31st
Prepare your Quarterly Payroll Reports, if you have employees and run payroll yourself. If you have a payroll agency, then they will prepare them for you. Verify whether or not they are mailing the reports to you for your signature or they are authorized to sign them for you and are mailing them directly to the government agencies. Obtain copies of the reports for your CPA.
Make sure you have started to gather tax id information for all vendors / subcontractors that have performed services for you. You will need to send out a W9 form (located at www.irs.gov) in order to obtain their company information. You will need to send out 1099’s for 2009 by January 31st, 2010.
Having a financial package, such as QuickBooks® helps to organize and prepare financial statements for your CPA. This software is user friendly as long as the set-up is done properly. Call ATD Solutions at 248-620-1177 with any questions regarding the software.
If you are in need of assistance to make sure that your financials are correct and your QuickBooks® file is set up properly, please call ATD Solutions at 248-620-1177. ATD Solutions is staffed with qualified QuickBooks® Certified Pro Advisors who have accounting background degrees.
ATD Solutions is currently offering a QuickBooks® Check Up for only $149. All you need to do is send us your QuickBooks® Back-up File and we will review the following;
Ø Chart of Accounts
Ø Previous Year Entries to Match to CPA Financials
Ø Reconciliations of Accounts
Ø Data Entry Accuracy
Ø Inventory and Payroll Set-up Accuracy
Ø Financial Statement Accuracy
You will receive a report stating what items need to be fixed in order to complete the financial statements. This will allow you to pre-plan with your CPA to maximize your tax deductions and lower your tax payments to the government! Call ATD Solutions at 248-620-1177 ext 17 to schedule your review today and mention discount code: BL2009.
ATD Solutions provides Attention to Detail for all of your QuickBooks Consulting and Bookkeeping needs!
Source: Atd Solutions’s Blog
Source: Atd Solutions’s Blog
Source: Atd Solutions’s Blog
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