• How To Close Out 2024 Financially Strong

  • Dec 19 2024
  • Length: 22 mins
  • Podcast

How To Close Out 2024 Financially Strong

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  • Summary

  • Are your finances ready for the new year? Episode Overview: In this episode of The Candy Valentino Show, we’re sharing a step-by-step checklist to help you close out the year financially strong. From balancing your books to preparing for tax season, these essential actions will set your business up for a seamless transition into 2025. Key Points: Close Out Invoices: Ensure all outstanding invoices are collected, and incoming payments are settled to maintain accurate financial records. Pay Outstanding Bills: Clear any remaining debts or obligations to start the new year with a clean slate. Record All Expenses:Log every business expense to ensure your financial statements reflect the full picture. Reconcile Bank Accounts: Match your bank statements with internal records to identify discrepancies and confirm accuracy. Verify Payroll Taxes: Ensure all payroll taxes are calculated and paid on time to avoid penalties. Check Employee and Contractor Forms: Review and verify W-2s, 1099s, and other necessary forms for accurate tax reporting. Conduct an Inventory Check: Perform a physical inventory count to finalize asset records and identify discrepancies. Run Financial Statements: Generate and review your profit and loss statement, balance sheet, and cash flow statement to evaluate your business’s performance in 2024. The Candy Valentino Show Is Sponsored By: Land Rover: Go to https://www.landroverusa.com/ The most desirable luxury SUVs Penguin Random House: Visit https://www.penguinrandomhouse.com/ ▶︎ WEBSITE | https://www.candyvalentino.com/ Pre-Order My New Book: The 9% Edge Founders:https://foundersorganization.com/ Learn more about your ad choices. Visit podcastchoices.com/adchoices
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