I think we can all agree that 2019 has been quite the year. There seem to have been fewer highs and more lows than even the terrible 2018. Doesn’t seem fair, does it? The good news is it’s almost over and 2020 is going to be amazing. Before we can move on there is still some important work to be done in the last quarter of 2019. What gets done between now and 12/31/2019 will ensure a strong year-end and create a foundation for success in 2020.
For my existing clients the next three months will include making sure the P&L and Balance Sheet are all cleaned up and current through September 30, 2019, completing a high-level, year-end forecast, preparing a budget for 2020 and thinking about what worked in the past year, what didn’t and how both can be improved.
Clients that are just coming on with Alice & Fran are focused on getting updated YTD September books and tying up any loose ends for 2018, i.e. meeting the 10/15 extension deadline. The on-boarding process can take two weeks to three months depending on the condition of the books, internal client resources available and the timeliness of client communication. Those who get on-boarded quickly will be able to complete the year-end forecast, review processes and procedures for improvement and build a fantastic budget for 2020. Those who take longer to onboard will at the very least have a 2020 budget and clean books by the end of December.
The last day we’ll be signing new clients for monthly services in 2019 is October 31, 2019. Any later than that and there’s not enough time to get everything cleaned up and organized for year-end. We’ll be taking new clients again after January 1, 2020. If you’ve been on the fence about partnering with a cannabis accounting firm this year and you can make the numbers work, why put off until tomorrow what we can get done today?