End Of Year Business Tips

Before the holidays completely take over, check out this list of tips for taking care of end-of-year business tasks. Doing so will help you stress less during EOY and better prepare you for 2020.

Connect with our firm for a year-end review
Now is the time to meet with us to review your financial standing and plan for next year. Year-end reviews can include your profit and loss report, year-end financial statements and projections for next year.

Update your payroll and benefits
If our firm is handling your payroll, let us know about corrections that need to be made before the end of the year. If you handle payroll in-house, make sure you have all taxable fringe benefits, payroll deductions and changes in benefits and reimbursement accounted for. Also, don’t forget to take care of payroll taxes and other compliance tasks.

Review your cybersecurity protocols
Do you have a cybersecurity policy and protocol in place for your business? Do your employees know how to protect their information and how to avoid being victims of cybercrimes? If not, create a plan to protect your business from a data breach. You may want to engage a cybersecurity professional to help you. Consider purchasing cybersecurity liability insurance as well.

Fine-tune your 2020 goals
Spend some time thinking about your business goals for 2020. Create a list of your top goals and then create a roadmap and budget for achieving them. Contact our office for guidance on goal creation.

Back up your data
If your data is not in the cloud or you don’t perform regular backups, make it a goal to change this in the new year. Until then, create a digital backup of all your key files and store them in a secure location.

Do a website check
Conduct a thorough evaluation of your website. Make sure it represents your brand and reflects current messaging. Delete or add pages as needed. And, if it’s in your budget, enlist the help of SEO professionals to make your site more visible.

Success in 2020 starts with a review of 2019
Accounting, IT and administrative tasks may not be the most exciting things on your radar at this time of year, but they are all important. Giving adequate attention to these areas of your business now will help you start the new year with less stress.