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Ten Ways To End A Business Year - Business - Nairaland

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Ten Ways To End A Business Year by emekapromise: 11:36am On Dec 18, 2019

As business operations and processes run through the year, entrepreneurs can get consumed with loads of activities that it becomes difficult to keep track of all that’s happening.
The end of the year is the time when most business activities wind down, therefore, it’s a good time to pause, take stock, plan and take a position for the year ahead.
Here are 10 things to do to make that happen:

1 | Review your financial statements (balance sheet, cash flow, income statement) and prepare tax returns.

You need to know:
o If your business is profitable
o How profitable your business is
o Where all the money that passed through your business in the year was spent
o How much the business owns
o How much the business owes
o Exemptions you can get on taxes

2 | Review business expenses. It is important business expenses are directly linked to the bottom line of the business.

3 | Compare financials from the year before to… Click here to complete reading: https://www.excellentbridge.com/Ten-Ways-to-End-a-Business-Year

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