Winding Down 2020

Thanksgiving morning, kids across America rushed to find a comfy spot in front of their television sets. Armed with steaming cups of hot cocoa, they settled in to watch the annual pageantry of the Macy’s Thanksgiving Parade with its bands, clowns, music, balloons and huge floats. Screech! Not so fast. It’s 2020. No crowds, no onlookers, and no people were allowed to attend the Covid version of this year’s reimagined parade.

America isn’t particularly happy this year. According to a study, Ohio ranks in the middle of the road for happiness. Out of 50 states, we rank as the 35th happiest state based on our overall well-being and satisfaction with life based on work (41), emotional (32), and community/environment (25). Overall, Hawaii is the happiest and West Virginia the unhappiest. About work, Utah is the happiest and Louisiana is the least happy.

As Ohioans, we are coping with the State’s social gathering orders set by Governor DeWine but some of us are also feeling a bit worn down both emotionally and physically. 

So as we barrel towards a socially-distanced Christmas season and New Year, let’s celebrate with hope and resilience. We may find ourselves reconsidering who we are and what we value; and perhaps, it might even help us to discover a better version of our pre-Covid selves.

As we at DLMoneyMatters move towards an end to 2020 with Thanksgiving and Christmas and Covid vaccines on our mind, we want to give a heartfelt “thank you” to those small businesses who trust us to do their accounting and bookkeeping, and also to the families who trust us to handle their daily money management needs. Thank you for helping us grow our accounting and bookkeeping side of the house, and for giving us the opportunity to make a difference in your success.

Halloween in Cincinnati 2020

Being scared on Halloween used to be exactly what we looked forward to! This year, not so much. Many Halloween events and attractions have been canceled due to Covid-19, and others have been scaled back.

We’d like to help you navigate the Halloween Maze with a quick list thanks to the Cincinnati Enquirer.

See a date or attraction you like? Click its link for details.

Land of Illusion Haunted Scream Park
Haunted Nights Through Nov. 6, $20-up.

Sandyland Acres Haunted Hayride
Through Oct. 31, $15.

Terror Town
Through Oct. 31, $25.

Nightmare Manor
Through Oct. 31, $17, $15 with canned good.

The Dent Schoolhouse
Through Nov. 4:, $20-$30.

Fall Fest
Through Oct. 25, from $10.

Barn Market
Through Oct. 31.

Find more Halloween activities for 2020 in our area. Have a safe and fun Halloween this year!

Time To Close Your Books

October represents turning leaves, cooler days, Halloween candy, and from a small business owner’s perspective…time to close the books.

If you are already a valued customer of ours, we’ve got you covered. If you are a small business owner still struggling with a manual accounting system or outdated accounting software, we’d offer a few October suggestions…

Bring in those end-of-year receivables

It’s rare that a business gets to the end of year without having some outstanding invoices. Especially if you aren’t using invoicing software, there’s a tendency to forget to collect or write off those “no pay / slow pay” customers, so it’s time to be sure every dime is collected and accounted for.

Gather and organize receipts

Hopefully you were not using the proverbial shoebox and can deliver your accountant a  list of receipts from a software solution that syncs with your credit card and/or bank account. 

Review the year’s P&L

This statement is a 30,000-foot view of how you’re spending your money and managing your expenses. Only when you honestly assess your business’s financial strengths and weaknesses can you make wise decisions for the coming year.

Make a payroll checklist

If you’re worried about withholding taxes for fringe benefits, deferred compensation or end-of-year bonuses, you want to prepare a checklist to be sure taxes and employee-related issues are in order.

Take physical inventory 

If your business requires inventory, take an accurate count, match it with your year end balance sheet, and record money spent on inventory with current value.

The U.S. Tax Code is complex and challenging. It’s always changing. We can help you keep your books in good order and make tax season a breeze. 

When Halloween comes around, at least at the office you won’t feel spooked by year-end tasks. If you are one of our valued clients, thank you for your business! Feel free to forward this to a fellow business owner who might be able to use our expertise. Happy Halloween!