Prepare for Year-end: Save Your Documents

The year is coming to a close and we are sure that you have many things on your mind. As you look forward to what next year will bring, it is also a good time to look back and think about what happened in your business in the past year. More specifically, it can be a good idea to save the documents you have accumulated over the past year.

Gather the documents you need

If they have not already, your CPA will likely be requesting reports soon to begin tax planning.

They may also be requesting other documents such as:

Have a digital plan to store your files

While year-end is definitely a good time to verify that you have all these documents on hand, it is important to think about how you save and store your documents all year long.

Ask yourself these questions:

  • Do you have a workflow for keeping track of documents?
  • Is it easy for you and your staff to retrieve the necessary documents?
  • Are you still using paper files?

We recommend saving and organizing your documents digitally all year long to eliminate year-end stress. A good place to start could be looking into cloud storage options such as Box or Dropbox.  After all, looking through paper files is so last year.

Looking to get a jump on preparing for year-end? Check out this article on projecting your year-end profit.

Updated 7/26/2021