How to Prepare for the New Year

Every year comes to an end, and a new one begins. It is important to stay focused as the market and rules change. Learn how to keep focused in 2020.

Every year comes to an end, and a new one begins. For accountants, it not only means business as usual, but closing the books on a new year, education on new policies, trends, and tools that can be used to maximize your investments, your taxes in check, and your business in the green. It is important to stay relevant as the market and rules change, year to year – how will you keep it all in focus for 2020.

Close out last years’ books

Review end of year statements and match transactions, close out all paperwork, archive, and give yourself an audit. This would also be the time to organize financial information and documentation needed for the next year.

Review deadlines and policies for the coming year            

It is important for accountants to know the upcoming calendar year and deadlines, especially when it comes to tax filing. Knowing the changes ahead of time will save you a headache and contribute to smooth process.

Check in with your clients

Prioritizing your client should be on a regular basis; this is so that you can make sure you’re meeting their needs and so that you can advise them on changes and/or recommendations.

Move to the cloud

If you haven’t already utilized the cloud for file sharing, saving, and securing… you are late to the game. Using the cloud provides a convenient way to manage accounting clientele and services and applications to them 24/7 in a virtual and easily navigated platform.

Social media usage

Although there can be a stigma associated with social media, it is a very necessary marketing tool that helps us easily connect with current and potential clients and share information with them in one public area.

Educate Yourself

It is so important for those working in the accounting sector to keep up with changes that could affect their clients. Webinars, relevant conferences, and legitimate literature are great resources for keeping accountants relevant with the times.

Automation Saves

Many of us still can’t resist a hard copy or manual process because we are so accustomed to it, but automation is available to take advantage of with today’s technology. It increases the efficiency of work, giving you more time to work on other projects or with more clients.


Picture of Michael Callahan

Michael Callahan

CEO of Intentional Accounting

Financial Advice

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