2018 is ending, R-U ready to close your Books?

This is the time of the year where we need to be aware about the importance of closing our books in the right way.  The information that we are going to submit to the IRS office is fundamental to keep our records and calculate our Income tax correctly and on time.

Here are the steps that have to be taken to close your books:

1.    Enter all the transactions in the system.  All the transactions have to be entered in a book called the general ledger.

2.    Reconcile the books. Once the GL is ready, other reports such as balance sheet and income statement or P&L, will be produced and reconciled. Reconciliation means making sure the numbers show the main financials are backed up.

3.    Review and check. After the main financials were reviewed, they need to be approved by the Controller, CFO or Owner.

4.    Close the books. Closing the books means the controller locks the books. In other words, from that moment nobody can touch the financials anymore except for the adjusting entries, only when is necessary and approved.

If you need help closing your books, contact VictRi Consultants, we can assist you with our professional services.

“Your Word is a lamp to my feet and a light to my path”.

Psalm 119:105

5 SYMPTOMS indicating URGENT BOOKKEEPING Service Help

As a Business Consultant I always try to get the picture of the company (their financials) and many times I find out that either they are not up-dated or simply don’t exist, keep in mind that this is a necessity to keep a business running smoothly at least financially.

The telltale signs that your business needs bookkeeping services urgently often lurk in plain sight. Are any of these symptoms present in your business?

1.    You never have Financial Information up-dated to make decisions.

2.    You don’t have a system to track your payables and receivables.

3.    You are mixing personal & business finances.

4.    Your work life balance is suffering, and you are missing important dates and time with your family or friends.

5.    You are not doing what you do best because you are spending time and distracting your attention in papers, books and numbers.

If you are interested in get rid of those symptoms and getting the best bookkeeping services and support, please contact VictRi Consultants for a free consultation and you’ll start to experience the peace of mind you deserve to focus on the important things of your business.

"Watch yourselves, so that you may not lose what we have worked for, but may win a full reward."

2 John 1:8

Focus on doing what you do best (Small Business)

by Victoria Ripley - VictRi Consultants 

Every morning I wake up full of energy and start my routine trying to be productive as much as I can.

Most of the times I push very hard to complete my plan & follow my agenda, but there are always many factors around that make me change and adjust my priorities.

In our personal life just like in our business we missed completing relevant activities giving priority to the urgent or unexpected issues that kept us from doing pending activities.

Now days with all the technology at our fingertips and all the information received every minute through the internet, many fads, surveys, BS claims, etc.  pushing very hard just to sell whatever they want, we end up spending very valuable time and distracting our attention and the worst, most of the times they achieve their goal convincing us that we can become an “expert” on the subject they are pretending to sell.

Just a reminder, to be an expert takes time and repetitive actions with trial and error.

We need to be focused on our goals.

Real entrepreneurs don’t waste their time on all that online nonsense distractions, instead they are focusing on finding and developing the one thing they do best.

It's better to take advantage using your internet service and tools at your fingertips to increase the value of your company.

For example, if right now you are not using the Cloud based solutions in your business, you are behind of your competitors.

Get all your company information updated to make the right decisions or just to adjust your plan on sales, operations or finances related to your activity at the right time.

Save time using these tools and spend your time doing what you do best,

at the end, your ability and your strength will convert into profit for your business by delivering with quality, on time and real solutions to your customers.

This is the right time to start using the Cloud based solutions for any area of your company, just do it, or if you are actually already taking the benefit of this great service, just make sure that you are getting the whole benefit that it brings to your business.

Let the experts guide you, especially if you are spending tons of time on things that are not adding the most important thing to your company, Value.

Just do what you do best! 

There are different kinds of service, but the same Lord. There are different kinds of working, but in all of them and in everyone it is the same God at work. 

Corinthians
12:5-6