taxes3 Simple Tips to Stay On Top of Your Books this Spring

It’s that time of year again! Springtime brings warm weather and more construction projects to keep up with. You may be wondering what to do to get your books up to date and to stay on track for your busy season. Here are a couple suggestions:

Visit with your bookkeeper

It doesn’t have to be a long visit, just take 15 minutes to sit down with your bookkeeper and make sure you’re both ready to go and that your systems and devices are up to date. Make sure you each know each other’s expectations to reduce any miscommunications or time wasting mistakes in the future.

Track your mileage

Be accurate with your business expensed gas mileage; it is easy to tell if you’re just estimating on your reports. There are several phone apps that will track your mileage for you with the simple click of a button using the GPS on your phone. You can also track it manually, but make sure you are tracking it so you can get your maximum deduction on your taxes and if you get audited, your records will be easy to locate and verify.

Link your systems

For maximum time saving, link your mileage tracker, bank account, and any other business expense recording system to your bookkeeping software so that all you have to do is classify your transactions. You’ll save a lot of time and energy just going through transactions that are already documented than trying to sort through receipts of various transactions and trying to remember all the expensible traveling you did.

At Dragon Financial we are committed to saving you time, money, and your sanity and we hope that these three tips do just that.