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01 Nov 2019

Welcoming the new year

Bring your invoicing up to date

If you have fallen behind on your invoicing, now is the time to get your affairs in order. All of the work done before the turn of the year and possibly the new financial year should be allocated to the correct year. Timely invoicing is also part of the good service you provide your customers and ensures an up-to-date invoicing cycle and a steady cashflow.

Prepare for the new year

It is high time to start thinking about the new year. Use a circular calendar for planning your year. You can create dedicated circular calendars for the day-to-day business, finances, campaigns, and marketing. When creating a circular calendar, the most important thing is writing things down to ensure that you are actually going to carry them out. Including your personnel in the planning ensures that you have dedicated and enthusiastic workers to implement your plans.

You can download a circular calendar template HERE

Budgeting for efficiency

Budgeting is a good tool for planning the new year. It is not just a prediction of your company's income and expenses, but also an operational plan that outlines the operation of your entire company. In smaller companies, creating a budget is not mandatory, but it does increase awareness of costs and provide ambitiousness for cashflows. Thus, you should definitely plan out the upcoming year in monetary terms as well.

Preparing for the financial statements

If your company's financial year comes to an end at the end of December, you should make an appointment with your accountant right now. The early part of the year is the busiest season for accounting firms.

Make yourself a checklist of all the information and documents the accountant will need for the financial statements. Go through the list with your accountant, as they will know which of the listed items pertain to your company.

  • Tax decision from the previous financial statements
  • Balance statements for your bank accounts and interest receivables for accounts with credit facility
  • Delivery of missing sales and purchase invoices
  • Travel expense reports (paid by the last day of the financial year)
  • Information regarding balance in hand
  • Information on the changes regarding the company's property
  • Balance and interest statements for loans
  • Information on securities, collaterals, mortgages, and other liabilities
  • If the company has stocks, a signed inventory list
  • Minutes of board meetings and the annual general meeting if missing (for limited companies)
  • Any changes pertaining to the share register and shareholder register (limited companies)
  • Reports pertaining to securities and investments
  • Information on leasing agreements and liabilities
  • Average number of the company's personnel for the financial year
  • Certificate of tax debts
  • Any mortgage deeds for properties

Keuke will gladly help you with any of this as well. Book an appointment keuke (at) keuke.fi, 050 341 3210.

 
 
 

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Keski-Uudenmaan Kehittämiskeskus Oy

Business Development Centre Ltd. Helsinki Region North
Puuvalonaukio 2D, 2. krs, 04200 Kerava

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050 341 3210

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