The end of the year 2023 is approaching, and many companies are already working to perform their annual accounting closing. This is a practice that provides valuable information about the productivity of a business. Below we want to share with you some accounting tips for year-end closing.
At QuAdrans law and finance, our accounting specialists will give you information and guidance for your business to have everything you need for a proper year-end closing before the SAT.
The accounting and fiscal closing helps to analyze the performance and growth that a company has had during the year. It will also allow you to establish new short, medium and long term objectives to work on during the new year.
What do we recommend you to do?
- Make a pre-closing.
A pre-closing allows you to see in advance the partial results of a business before reaching the end of the year. Its objective is to detect possible inconsistencies in payments or obligations, in order to prepare the required documentation.
- Consider what the SAT requests.
It’s advisable to make a list of everything that the SAT (Tax Administration Service) requests and analyze very carefully when reviewing an annual tax return.
We invite you to read our blog post: Make better financial decisions. We believe this may be an interesting topic for you.
- Perform an analysis.
When analyzing the operations you will be able to identify accounting inconsistencies, so you can begin to create a plan to solve them and find a better way to operate. In addition, an analysis will allow you to know the operational profitability of the business, in other words, if it is generating profits or not.
- Make sure that the documentation is in order.
Don’t forget that the digital tax receipts you receive must match those in the SAT portal. This is important to be done periodically during the year to avoid invalid or duplicate receipts.
At QuAdrans law and finance we have lawyers, public accountants and IT experts who are trained to offer you a personal or corporate service.
- Discover our services.
We are based in the city of Playa del Carmen, Quintana Roo, contact us to obtain more information about our services.
Now that we’ve shared some year-end accounting tips with you, we want to know which other topics or news you’d like us to talk about on our blog.
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Accounting tips for year-end
