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Managing Year-End Financial Deadlines

 |  By: Britt Cumbie, CPA, Director of Contract Accounting Services

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As year-end approaches, already busy professionals are thinking about how to handle the additional requirements looming in the areas of accounting and tax. These requirements are driven by a combination of the calendar and outside factors such as financial institutions, outside investors, tax agencies, regulators, etc. Some of these needs include:

  • Balance Sheet and Bank Reconciliation Catch-up
  • General Ledger Closing
  • External Audit Preparation
  • Year-end Financial Reporting
  • Forecasting and Budgeting
  • Tax Compliance (federal, state & local)
  • 1099/W-2 processing

Leanly staffed organizations may find themselves in need of temporary assistance. Finding trustworthy, competent resources that can work on an as-needed basis to assist with the increased workload can be a challenge. How do you quickly identify a resource that you can trust to deliver results in a timely and cost-effective manner? Think, temporary staffing firm. When considering a temporary staffing firm, you should:

  • Identify a firm with an established reputation and significant experience in financial recruiting.
  • Ask for references and call them.
  • Ask the firm about their process – does the firm interview candidates in-person and perform candidate references and background checks?
  • Share sufficient information with the firm to ensure the appropriate temporary resource has the experience and remember that you truly get what you pay for.

The stress of year-end requirements and finding the right manpower to accomplish those responsibilities in a timely, efficient manner can be eased. With a little bit of research, utilizing the right temporary resources will ensure a less stressful and productive year-end for your business.

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Posted in: For Employers