Summer is in full swing, and generally most organizations’ schedules are slower this time of year. This means it’s the perfect time to review your accounting and get ready for the fall, because when school is back in session and people are back from vacation, year-end activities aren’t that far away.
Here are a few things you could do right now to minimize your fall workload:
1. Catch Up On Entering Information
Take a moment to make sure you have all the correct dates on everything and verify that all of your transactions (to date) have been entered. An easy way to do this is through Aplos’ bank integration feature.
2. Catch Up On Bank Reconciliations
Making sure information in Aplos is accurate is vital to your day-to-day accounting. One tool that can help with this is the bank reconciliation tool. This tool is specifically designed for the purpose of reconciling your bank statement with your information in Aplos. If you’re not using it yet, click the link above for a quick tutorial.
3. Review Q2 Financials
Review your financials for the second quarter, and ask yourself if you are sticking to your desired budget goals so far. If not, now’s a good time to make the necessary changes to get yourself back on track to finish out the year strong.
4. Evaluate Any Desired Midyear Changes
Summer is also a good time to do some broad evaluating of everything in your organization. This may include using different accounts for certain transactions, performing budget updates, making personnel or job description changes, etc.
Whether you decide to implement some or all of our recommendations above to review your accounting, remember it’s not always going to be as slow as it is now, so take advantage of it while you can. You’ll thank yourself in the fall for getting ahead while you could.
