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The following checklist outlines quarterly tasks for maintaining accurate
accounting records.
- File estimated tax returns. File federal and state estimated income
taxes.
- Remit sales taxes. If required, fill out a state sales tax report
and send it in along with a check for the amount of sales tax you've
collected. You may be required to remit sales taxes monthly or
annually instead of quarterly, depending on the amounts involved.
- Prepare income statement. This will reflect the sales, expenses and
profit for that quarter and for the year to date. Many larger
businesses generate this report monthly as well as quarterly.
- Prepare balance sheet. This will indicate the financial position of
the business at the end of the quarter.
- Prepare cash flow statement. This will reflect the cash activity and
ending position for the quarter.
Feel free to contact us for help.
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