Kane Accounting


Accounting Basics

September as your New Year

Happy New Year! Wait, did you think that the new year starts in January? Only the date changes in January, but I’m here to propose to you the idea that the new year really starts in September. 

September is about the time that everyone is getting back to their normal schedule after a summer off. Homework starts, school activities begin, and we usher in a new season. 

I’ve said for years that we can’t end one thing without starting something new. As we end the summer season and get back into a new year of school, business, and life, I want to share three things you should do in your business to start the new year off right. 

Review your marketing

First, look at how much you’re spending on marketing efforts. Then, measure your results by determining how many new clients you’ve brought in or how much money you’ve made as a result of those efforts.

I know sometimes the direct correlation isn’t obvious, but you should be tracking where people find you and measuring analytics on your marketing efforts to give you some idea on the return on investment. Ask yourself “are my methods working?” Discard what isn’t working or discuss your efforts with a consultant to decide what needs to be changed. 

Meet with tax preparer

By September, the calendar (and for most, the fiscal year) is more than half over. Look at your financial records and see where you stand on income taxes that you will owe for the year. If you know your income, it will be easier to estimate your taxes. 

Also make an appointment with your preparer in the fall so they can help you make sure you have all the information together, making it easier for them to complete your taxes. The less amount of time you cost them, the less money it will cost you.

Get your bookkeeping up to date

Part of preparing your taxes is making sure your bookkeeping is up to date. Having current books is also important for investors, goal setting, and financial forecasting for the upcoming year. What you may not realize is, October 1 through January 1 is one of the slowest times for accounting firms. Have someone like me help you get your books up to date during this time. 

Let me help! 

Getting your financial records in order can be a daunting task, especially if you’ve not kept them up the rest of the year. Contact me to see how we can get your records in order so you’re ready for tax time!.