End of Year Checklist for Small Businesses!
As the year comes to a close, it’s important to do a little “house-keeping” for your business.
Accounting
1. Review your standard financial reports
2. Analyze cash flow statements
3. Verify vendor information for 1099s
4. Reconcile accounts receivable
5. Double-check payroll and benefits
Information Technology (IT)
1. Backup your computer
2. Backup your contacts
3. Download important files or reports
4. Evaluate your file-naming conventions
Human Resources (HR)
1. Think about year-end incentives
2. Examine your staffing needs
3. Celebrate business accomplishments
General Business
1. Conduct an inventory count
2. Update your business goals
3. Audit your website
Last, but not least – Start planning for 2021!
1099s
We will be contacting you in the next few weeks about any W-9’s you are missing as 2020 comes to an end.
The deadline to file 1099’s is January 31st.
All W-9’s are due by January 1st to ensure a timely filing.
Here is a link to a fillable W9 to provide to your vendors.
Give them this link to submit the form directly to On the books.
OTB Assets
CARRBORO CREATIVE
Carrboro Creative is a results-driven creative agency specializing in impactful digital experiences and brand storytelling. Carrboro Creative does branding, web design, and graphic design for businesses of all sizes. The leader, the amazing Caity Kelly, created our logo and did our website design.
To read more about Caity and Carrboro Creative on our blog click here.
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We wish you and your family a very Happy Holiday!
Please be sure to review the dates below for days we will be spending with our families.
On the Books Recommendations
Books, Podcasts, and More!
November Podcast: Thriving in Changing Markets
This month’s podcast features two very well known active investors. Rich Barton founded Expedia, Glassdoor, Zillow, and is currently a board member at Netflix. Join as they discuss Barton’s “power to the people” strategy, taking companies public through SPACs vs. IPOs, and their perspectives on how to build a great company. Listen Here.
November Book: Zero to One
Zero to One presents to it’s readers an optimistic view of the future of progress in America. A new way of thinking about innovation that starts by learning to ask questions that lead you to find value in unexpected places. Get this book here.
Upcoming Virtual Events:
NC Tech CIO + IT Executive Roundtable – December 1st @ 7:45-9:00am – Join this roundtable quarterly to discuss relevant topics, as well as exchange best practices and lessons learned.
Startup Summit: Funding Sources & Education Happy Hour – December 3rd @ 4:00-5:00pm – Virtual event showcasing investors on a panel to present various investing vehicle types, education on the differences, and value each offers to entrepreneurs.
Triangle Tech Net – December 4th @ 11:30am – Free virtual event to help Triangle professionals network and make contacts.
Tech Slam N’ Eggs – December 9th @ 8:00am – Live tech demos, no powerpoints allowed.
Becoming an Investor – Ready Entrepreneur – December 2nd & 9th @ 1:00pm – a two day virtual workshop designed to educate and prepare growth-oriented entrepreneurs to successfully engage private equity investors.