The good news is that the world didn’t end on 21 December 2012 as the Mayans had predicted. The bad news is you still need to work on your accounting.
Here are some tips in the form of a checklist so you can avoid overpaying. It’s important you do this before close your books for 2014-15.
- Settle your bank accounts
- Complete your invoicing
- Record all your supplier bills
- Write off bad debts
- Record your depreciation
- Handle prepaid expenses
- Close out the owner’s draw
- Don’t miss the last (s)mile
We hope this checklist will come in handy for your fiscal year end and beyond.
“SURROUND YOURSELF WITH ASSETS. NOT LIABILITIES.”
Wish you a happy 2015-16 Accounting Year.
Pratik Patel, BDE