Welcome to October! Not only is fall in the air so is the beginning of the 4th and final quarter of 2020!
What a year it has been!
How to prepare in the 4th quarter
As you prepare for the end of the year and to crush your yearly goals don’t forget to spend some time every month to review your budget vs. actual numbers. Is your business staying within the budget you created? Why or why not? Are there subscriptions or services you need to change or downgrade on to help your business have a little more breathing room.
You are not alone
Write your findings down so you can review the information every month. Your Profit Planner is the perfect place to record your budget and guide you through deeper analysis.
As we head into the holiday season don’t forget to make any needed budget updates. Will you be sending appreciation gifts to your clients or employees? If so how much are you preparing to spend? Will your business pick up or slow down during the holiday season, what can you do now to prepare for this shift?
To make sure you are prepared for tax season make sure that you have set aside money for paying taxes. Each month set aside 25% of your profit in a separate savings account to ensure you are prepared.
If you would like more information on getting your financial statements completed for you every month and getting accounting off your to-do list be sure to schedule a discovery call! https://calendly.com/kickstartaccounting/discovery