How to fix my messy back-years accounting for my Los Angeles, CA business?
If you have messy books for many back years of accounting, it can be overwhelming to try to organize and clean them up. Here are some steps you can take to tackle the task:
Take an inventory: First, make a list of all the records you have, including bank/credit card statements, invoices, receipts, and other documents. This will help you to get a sense of the scope of the project and to identify any missing records.
Set goals: Determine what you hope to accomplish by cleaning up your books. For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. Having specific goals in mind will help to keep you motivated and focused.
Create a plan: Develop a plan for organizing and cleaning up your books. This might involve setting aside a certain amount of time each week to work on the project, or breaking the task down into smaller, more manageable chunks.
Gather tools and resources: Make sure you have the tools and resources you need to get the job done. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks.
Seek help: If the task is too overwhelming to tackle on your own, consider seeking the help of a professional, such as a local SoCal EA enrolled agent or CPA. They can provide guidance and expertise to help you get your books in order.
By following these steps and working steadily and consistently, you should be able to make progress in cleaning up your books and getting your financial affairs in order.
Our Los Angeles based tax firm, led by Mike Habib, Enrolled Agent, represents and helps business taxpayers get compliant with back years, contact us today at 1-877-78-TAXES [1-877-788-2937].