Accounting Supplies to Help Make Your Small Business New Years Financial Resolutions Come True

As the New Year quickly approaches (or fades away like a distant memory, as the case may be), a lingering thought arises: How will you ensure that your financial New Year’s resolutions come true? If this is the year you intend to get your business accounts in order, the following accounting supplies can help.

. Billing and accounting software – Are you still using Microsoft Excel spreadsheets to send invoices to clients? Invest in accounting software like QuickBooks, print checks from the software, and send professional invoices to clients while keeping all your books in order.

. Security checks – One of the most important accounting supplies you can buy this year is security check stocks. Depending on whether you use QuickBooks to print checks or specialized check writing software, you can order blank or pre-printed security checks with advanced security features to prevent check fraud.

. High-quality ledger – One of the most basic accounting supplies of all, ledgers are used to keep track of income and expenses. Because it will be used regularly, invest in a high-quality ledger, ledger paper, and pen. Keep your ledger stored in a safe but easily accessible place.

. Tax planning calendar – Contrary to popular opinion, April 15 is not the only fiscal day of the year. Business taxes, payroll taxes, sales taxes, and other tax obligations apply throughout the year. Use a tax planning calendar to keep track of all your tax requirements. Doing so can avoid last minute problems and penalties.

. A data backup strategy – From traditional tape backups to secure online storage, backing up your data is essential. When researching backup options, keep in mind that your backup is only useful if it is done regularly and reliably. Online backups have the advantage that if your building and IT equipment (and physical backups) are damaged or destroyed, your data is safe and sound.

. Budgeting and business planning tools – Budgets and business plans are as important to small businesses as they are to large corporations. Free and commercial budget and business planning tools are readily available.

. Contract templates and debt collection – Many problems can be avoided by quick communications. At the beginning of a business relationship, write it down using basic contracts. From there, use letters at the first signs of delinquency to remind clients of their obligations. Use templates and forms to get started.

. Time management tools – Whether you are a small business owner or an accountant, managing your time is essential to both being productive and maintaining a healthy balance. Take a time management course, read a time management book, or invest in an easy-to-use daily planner. Time management apps are also available that can keep track of appointments and alert you when it’s time to switch gears.

These accounting supplies can help you strengthen your business in a number of ways. From getting your books in order and printing high-security checks from QuickBooks to planning taxes, budgeting, collecting debts, and managing time, you’re well on your way to meeting your business New Year’s financial purposes.

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