PrivateChief Business Books: 12-Month Cash Forecast, Tax Preparation Checklist and Year-End Packet
Business Books closes the month for a small business, then looks ahead with a 12-month cash view and gets the year ready for your accountant. The design studio in this walkthrough, Westbrook Interiors, is invented for the demonstration. (The monthly close itself is shown in our Books walkthrough.)
Chapters
What Business Books adds
- A 12-month cash view built from the median money in and out of your last six closed months, starting from your accounts' closing balances.
- Open invoices and filing due dates listed in the month they fall due, but not added, because collections are already part of a typical month.
- A warning when a month is projected to end with less than one typical month of outgoings in the bank.
- Each closed month's monthly statement, profit and loss, and year-to-date profit and loss.
- A tax preparation checklist: tax and filing documents already on file, and a filing register with each filing's status and due date. It prepares only; it does not calculate tax, choose a tax treatment, file a return or give a professional verdict.
- A year-end packet filed in Business Documents: closed months, unresolved items, payees paid $600 or more for your accountant to decide on 1099s, and what customers still owe.
What the narrator says
0:00The month closed
Business Books closes the month for a business, then looks ahead, and gets the year ready for the accountant. This is Westbrook Interiors, Laura Ashford's design studio, invented for this demonstration. The monthly close works as it does in Books at home: Poppy, the studio's Chief, collects the statements, sorts the transactions, asks only what is unclear, and prepares the reports. September is closed. Beneath it are the next twelve months.
0:34The next 12 months
Each month uses the median money in and out of the studio's last six closed months, starting from the accounts' closing balances. Open invoices and filing dates are listed in the month they fall due, but not added, because collections are already part of a typical month. If a month is projected to end with less than one typical month of outgoings in the bank, the card warns you.
1:00Monthly reports
Every closed month leaves a monthly statement, a profit and loss, and a year-to-date profit and loss. Reports also opens the tax preparation checklist.
1:12The tax preparation checklist
The checklist gathers what the accountant will ask for: the tax and filing documents already on file, and the filing register, with each filing's status and due date. It prepares. It does not calculate tax, choose a tax treatment, file a return, or give a professional verdict.
1:33The year-end packet for your accountant
At year end, one button files a packet for the accountant in Business Documents: which months are closed, what is still unresolved, payees paid six hundred dollars or more, for the accountant to decide on 1099s, and what customers still owe.
1:51Find out more
Business Books. The month closed, the year ahead, and the accountant ready. PrivateChief Business. Find out more at privatechief.com.
