What Your Accountant Needs for a Useful Midyear Projection
Build a compact packet that connects closed books, owner facts, assumptions, and completed payments.
TOPIC COLLECTION
Accounting records
A focused reading path from The Profit Planning Journal. Start with the question closest to your situation, then review the linked sources and documentation steps.
Build a Monthly Expense Reimbursement Process That Actually Gets Used
Turn scattered owner and employee expenses into documented, reviewed company transactions.
Collect Vendor Tax Records Before the Year-End Scramble
A vendor onboarding and reconciliation process that makes information reporting easier to prepare accurately.
Business Travel With a Personal Extension: Build the Record Before Departure
Separate itinerary, purpose, attendees, and mixed costs while the facts are still easy to document.
Card Processor Deposits Are Net: Reconcile Sales, Fees, Refunds, and Holds
Keep the payment platform’s settlement mechanics from distorting the profit and tax forecast.
One Vehicle, Business and Personal Miles: Build the Log Before Comparing Deductions
Create reliable use records so the tax calculation begins with facts rather than an estimated percentage.
A Fixed-Asset Register After Years of Growth: Reconcile What the Company Still Owns
Connect the physical equipment list, ledger, depreciation schedules, financing, and disposals.
A Capitalization Policy Before the New Year: Make Purchasing Records Consistent
Agree on invoice detail and review procedures before small equipment and improvement costs accumulate.
Changing Tax Preparers: Hand Over Decisions and Carrying Schedules, Not Just PDFs
Give the new advisor a complete transition file so the next projection starts from the filed history.
Owner Loans at Monthly Close: Reconcile Transfers Before Calling Them Expenses
Match actual agreements, principal, interest, repayments, and balances rather than relying on a general ledger label.
A Customer Pays in Cryptocurrency: Record the Sale and the Asset Separately
Capture value, units, timestamps, fees, and later conversion before the wallet balance becomes a tax surprise.
Trading Services With Another Business: No Cash Does Not Mean No Tax Record
Document the fair value, obligations, delivery, and accounting treatment of a barter arrangement.
Changing the Accounting Method: A Report Toggle Is Not a Tax Election
Confirm eligibility, historical treatment, transition adjustments, and procedure before modeling a different method.
A Credit-Card Statement Crosses Year-End: Reconcile the Charges and Payment Separately
Prevent missing receipts, duplicate expenses, and personal charges from distorting the projection.
A Supplier Rebate Arrives After Year-End: Connect It to the Original Purchases
Trace rebates, credits, returned goods, and contract terms before treating the receipt as unexpected profit.
An Unpaid Consulting Invoice: Why a Cash-Basis Writeoff May Not Reduce Tax
Distinguish income never reported from a debt with tax basis before treating an uncollectible invoice as a deduction.
Client Dinner and Sports Tickets: Separate the Costs Before Approving the Expense
A business relationship can support a meal purpose without turning entertainment into a deductible cost.