SP Unique Accounting

***Are you ready to file your tax return? Are your books clean, organized, and complete?

𝐖𝐡𝐨 𝐍𝐞𝐞𝐝𝐬 𝐚 𝐂𝐥𝐞𝐚𝐧𝐮𝐩?

It is essential for business owners to keep their accounting records up to date all year long since accurate numbers are a MUST for making sound business decisions. As we all know “Garbage in Garbage out”, inaccurate data results in meaningless financial statements.

There are steps to take each month to reconcile your books. If you missed one, you still need to complete it at the yearend in order to have tax-ready books. If there are several steps missed, you might need a cleanup to get your books up to date.

𝐇𝐨𝐰 𝐭𝐨 𝐆𝐞𝐭 𝐑𝐞𝐚𝐝𝐲 𝐟𝐨𝐫 𝐚 𝐁𝐢𝐠 𝐂𝐥𝐞𝐚𝐧𝐮𝐩 𝐖𝐡𝐢𝐥𝐞 𝐒𝐚𝐯𝐢𝐧𝐠 𝐌𝐨𝐧𝐞𝐲 𝐚𝐧𝐝 𝐓𝐢𝐦𝐞? 𝐖𝐡𝐚𝐭 𝐃𝐨𝐜𝐮𝐦𝐞𝐧𝐭𝐬 𝐃𝐨 𝐘𝐨𝐮 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐯𝐢𝐝𝐞 𝐘𝐨𝐮𝐫 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐧𝐭 𝐑𝐢𝐠𝐡𝐭 𝐀𝐰𝐚𝐲?

Gather all the following documents, then contact your accountant:

 “ALL” monthly statements for your bank accounts, credit card accounts, line of credit, and investments, for the entire cleanup period.
 Your last filed Tax return.
 Your original loan documents and all the monthly loan statements.
 A list of all your fixed assets purchased/ disposed of during the cleanup period.
 All the depreciation schedules. (If you don’t have any, your accountant should be able to help you with that.)
 A list of all manual checks, showing the payee and the reason for each check.
 All your payroll forms 940 and 941s for the whole cleanup period (if applicable)
 A payroll summary report covering all the transactions for the cleanup period showing taxes, fees, etc. (if applicable)
 All your state sales tax filings for the cleanup period. (If applicable)
 If you are using any 3rd party app, such as PayPal, Square, Stripe, etc., you need a transaction summary report for each app, covering all the transactions, fees, returns, taxes, etc. for each month.
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