It’s that time of year again! Here are a few tips one what you should do for your small business as the year comes to a close.
Like a phoenix, the year ends and starts anew with brand new opportunity for everyone. But before we turn the page into the new year, you have to make sure you have left everything to give you the best transition. As a small business owner, there are a few things you should take care of in the important departments of accounting and IT which will make you glad you took the time to do this.
End of the Year Checklist
Accounting
- Review Payroll & Benefits – It’s best to stay on top of any issues or correction that need to be done to the payroll before the year is over. Make sure that your benefits are included in the taxable benefits.
- Take Care of Accounts Receivable – You should have a list of any clients that have yet to pay their bills and still owe you money. If possible, try and collect your dues before the year’s end.
IT
- Back Up Data – Make sure to backup all of your data, which includes documents, files, and passwords to a hard drive and/or a secure cloud storage.
- Back Up Customers – Before the year comes to a close, make sure that all your clients’ information is also backed up. It’s especially important that your top clients’ information be stored just in case a glitch erases them from your memory banks.
For all of your business insurance needs as a Texas business owner, contact VGW Walker Insurance in Austin. As an independent insurance agency, we will work with you to ensure you have the right amount of protection for your specific needs, all at the right price to fit your budget.
