Curt Mastio
By Curt Mastio on June 11, 2024

Spring Cleaning: Accounting & Finance Checklist

As the chaotic tax season and year-end financials begins to wrap up, now is the perfect time to get a head start on your accounting and financials for the remaining year and even next year. We highly recommend following the checklist below to ensure you are in great condition and if not, how you can get there!

Use an Electronic Filing System

Now that you’ve filed your taxes, it’s the perfect time to organize your financials and use an electronic filing system for your important documents. At Founder’s CPA, organization is our key to success. If you’re in the market for an electronic filing system, we recommend using HubDoc because of its simplicity and user-friendly tools.

Organize your documents into important categories such as:

      • Bank Statements
      • Tax Related Information
      • Expenses
      • Bills
      • Receipts
      • Payroll reports
      • Charitable giving receipts

Next organize your documents into each category by the year and having your last year’s information readily available to ensure answers for the IRS to verify your case if questions arise.

To avoid theft of information, we highly recommend encrypting and using password protected files. Be careful with your sensitive data and be sure to use strong passwords.

Throw Out the Clutter

As we get deep into wrapping up our year end, we tend to pile a list of accounting and financial documents that we no longer need. To discard any documents, be sure to shred any printed material and delete the files stored onto your computer.

We recommend holding onto your tax returns and any tax notices you receive from authorities and agencies by scanning them into your electronic filing system.

Go Paperless

As you toss out your printed information that you no longer need, take note of where these documents are coming from and consider signing up for bills and information online.

Not only does it save you the mess, but it’s cost-efficient, timely, and helpful for the environment.

Update Your Financial Budget and Start Planning for Next Year

Now that you are organized with this spring-cleaning checklist, it’s a great time to review and revise your budget. Consider the new expenses that you’ve come across and future expenses that may be foreseen in order to accomplish your accounting and financial goals.

We can help you revise your budget through our Building an Effective Budget for Startups and Small Businesses

We hope this helps you get back into great shape for the rest of the year. If you need further assistance, Founder’s CPA will gladly be able to help you.

Published by Curt Mastio June 11, 2024
Curt Mastio