As we begin our journey through the holiday season, OND for 2023 will be unpredictable, especially since we’re on the heels of the COVID-19 pandemic.

We’ve put together these five accounting tips to help your OND be the most successful it can be.

Develop an Organization Plan:

During the stressful holiday season, there can be many demands on your time and bandwidth, and you might be wearing multiple hats. Regardless of how busy you are, devise a to-do list each day for your accounting needs. Breaking out each task you need to do into a simple list can make everything less overwhelming. Develop a plan with clear guidelines referencing when invoices are due, when a physical inventory count is required, and what accounting tasks you need to do each day.

Keep up With Daily Accounting Tasks:

It’s easy to assume that you’ll get caught up when the holidays are over. But if you wait to take care of essential accounting tasks, you’ll end up with a bigger mess at the start of the new year. Take a few minutes each day to put the numbers together and make sure your bank is reconciling. 

Prepare for Year-End Extras:

Holiday parties are great ways to thank your employees for their hard work and all they do. If you plan on providing year-end bonuses, make sure you document it appropriately. Research what tax rate will be applied to the bonus and if you have questions, reach out to your tax accountant or payroll provider for help. Preparing ahead of time for these considerations will help you get through OND with fewer surprises.

Ask For Help:

There’s no shame in asking for help. Hiring during the holiday season is one of the best ways to handle the influx of customers to your business. If you don’t plan to hire, lean on your staff and be sure to delegate to them so that you can stay focused on accounting needs or the bigger picture. Consider hiring an accounting firm if you don’t already have one. They can give you more time to focus on other areas of your business that will need your attention during OND. Some great options we trust for the Wine Industry are (alphabetically): Allen Wine Group, Balanced Business Group, Reich and Associates, and QB Winery Solutions.

Technology is Your Best Friend:

Not only is technology the hottest gift each year, but it could also be your hottest asset during the holiday season. Using an automated integration like our WGits QB solution will lower your stress, save you a ton of time, remove human error, and increase the accuracy of sales revenue and inventory. Getting fully set up takes just a couple of hours, and you can pull orders from however far back you need to get caught up for the holidays. Since it’s so user-friendly, includes our support, and is developed for wineries, now is the best time to get set up before OND is in full swing.

We hope these tips help you have a very successful holiday season and that your stress levels are at an all-time low this year. Trust these time-saving tips to help you get the most out of your day and boost efficiency.

Testimonial: 

"Ever since I installed WGits, it has saved me hours and hours each month by not having to enter transactions into QuickBooks manually! Thank you, WGits, you are a life (and time) saver!"

~Joe Lazzara

Co-Founder and Proprietor

Jazz Cellars