With only 10 days left until Christmas, you may be starting to wind down and start to relax after a hard year at the office. Often, the week between Christmas and New Year is the perfect time to relax with family, and for some personal reflection. Of course, for the business-minded amongst us, personal reflection inevitably spills into business review and planning, as there really isn’t a distinction between ‘business’ and ‘personal’ – we take our businesses so personally.
At Top Class Accounts, we continue to operate throughout the Christmas/New Year period, only officially closing on the public holidays (Christmas Day, Boxing Day, and New Years’ Day). Individual clients and bookkeepers will make their own arrangements to ensure continuity of service, and things invariably slow down in many industries, but we continue to be available to support you throughout.
And then, on 1st January, with New Years’ Resolutions freshly minted and our enthusiasm bursting, we launch into another year with great plans, determination, and energy. Why not allow this fresh burst of vitality and positivity translate into permanent change within your business?
Administration and bookkeeping are frequently areas of a business that get pushed aside, while we focus on “actual” work that directly generates revenue and clients. But of course, one of the most common causes of business failure is poor financial management and allowing tax debts, legal compliance, and lack of oversight to bring us unstuck.
If you lodge your BAS on a quarterly basis, the ATO allows extra time after Christmas to lodge your Q2 BAS – it will be due on 28th February. But don’t wait until February to calculate and assess your liability. Ask your bookkeeper to bring your books up to date as soon as possible in January, and adopt a proactive approach which becomes your normal management style moving forward.
If you have any thoughts or questions about your bookkeeping, administration, and financial situation, please feel free to call us on any of the business days throughout December and January, and we’d be very happy to help you prepare to make 2016 a year of transformation in your company.