Accounting Q&A: Year-End Adjusting Entries for Small Business Owners

In today’s episode I am diving into an Accounting Q&A  is for everyone who's puzzled by year-end adjusting entries and why accountants seem so particular about them. I'll break down why these entries matter, how they affect your business numbers, and what you need to know to handle them confidently!

Topics Covered:

• The role of accountants in reviewing year-end entries to ensure accuracy and adherence to accounting standards.
• Why year-end adjustments aren’t usually made in your bookkeeping software and how to update them.
• Key entries like depreciation, accruals, and inventory adjustments that commonly appear at year end.
• Understanding adjusting entries to improve bookkeeping accuracy and prevent recurring errors.
• Practical tips on where to look and what to ask your accountant for clarity on your year-end financials.

Know your numbers! Getting clear on these entries will help you see the real story of your finances and avoid surprises when tax season rolls around!

Have questions? Reach out, I’d love to connect with you!

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Head over to my website https://www.stacimillard.com/ to grab your FREE copy of my Profit Playbook and receive 30 innovative ways you can add more profit to your business AND the first step towards implementing these ideas in your business!