You know the feeling of opening the windows and letting the fresh spring air circulate and refresh your home? It’s such a satisfying and rejuvenating feeling. But spring cleaning isn’t just reserved for the home! Just as you can declutter your closet or that junk drawer, you can spring clean your chart of accounts!
I often field calls from potential clients where we discuss the types of services they’re looking for: bookkeeping, strategy help, tax services. And often, just before we hang up…I get the hastily added comment “and also there’s probably some chart of accounts clean up needed, if you can take a look.” It’s the accounting version of cleaning underneath the bed. I get it, it’s easy to get ahead of yourself and create 5 accounts when 1 will do. Once it’s done, though, it can help your business so much! Having a clean chart of accounts will help you have a better vision of where your business sits financially.
So this spring, I encourage you to take a look at your chart of accounts and consider where you can consolidate. What accounts are you not using? Are there any redundant accounts that you can merge? If you need help with your chart of accounts refresh, reach out – we can help!