Fourth Quarter Bookkeeping Checklist for Small Business Owners

We are officially in the FINAL quarter of the year! Use our Fourth Quarter Bookkeeping Checklist to get on track before busy season hits.

If you haven’t started your bookkeeping yet, now is the time. You don’t want to be rushing around during tax time. It takes less than an hour to get your bookkeeping team started – it’s a GREAT investment of your time.

Fourth Quarter Bookkeeping Checklist

Gather W9s

  • Always gather W9s BEFORE you pay someone. This will prevent issues when it’s time to give contractors their 1099s.

  • Avoid paying people with cash or products, etc because it gets difficult to “prove” that you actually paid them. They can dispute your amounts and you wouldn’t have a leg to stand on.

  • Avoid paying people through apps like Venmo or Cashapp unless you are prepared to go back and add vendor names in your bookkeeping software.

Bookkeeping

  • Are your books current and updated? Do you need to outsource bookkeeping?

  • Check your P&L Statement and Balance Sheet to see how you’re doing.

  • Know your profitability, not just your gross revenue.

  • Identify variable/fixed expenses that can be reduced/cut.

Find a Tax Accountant (CPA)

Now is the time to interview a few different tax accountants to file your taxes, if you don’t have a good one yet. Some criteria for choosing a good one:

a. Reviews/Recommendations

b. Capabilities

c. Cost

Get fully onboarded with HarQuin by October 18th to have your current books finished in January!

HarQuinLindsey Sryockbookkeeping, Q4, W9s, tax accountant, CPA, checklistComment