Easy-to-Use Bookkeeping Software to Keep Your Finances Organized!

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Big EZ Bookkeeping

Six Record Keeping Steps for Tax Time

1. Make Sure Your Records Are Set Up Correctly From the Start of the Year

Successful record keeping begins with setting up your

system correctly from the start.  (And it’s not too late

to set-up (see video) your system for this year.) With Big E-Z

Bookkeeping Software we’ve made it super easy. Now you

can customize Big E-Z by choosing a list of categories from

our Category Corner page and paste it into the system to

populate throughout the monthly files and the summary.

Help is available with set-up by utilizing our Free 1/2

hour session. (limited spots available)

2. Be Sure to Claim All the Business and Home Office Expenses You Are Entitled To

There is the Schedule C small business owners or their tax professional need to complete as part of their tax return. If you chose our list of business categories you are already tracking most of the correct categories for your tax return. Here's a list of expenses for people who have a business office in their home.

3. Make Sure 1099s and 1096s are Out in the Mail

It is February and your 1099s should have already gone out to your independent contractors by January 31st. But your 1096 form, which acts as a cover sheet or an annual summary with totals of all your 1099s is due to the government by Feb. 28th.  To track payments to independent contractors, we suggest you set up a separate Subcategory (see video) for each 1099 recipient and let Big E-Z accumulate these totals for you. At the beginning of the year, and as you add more independent contractors, be sure to get their address and social security number and enter this information in the Subcategories area on the Checks worksheet of the January file.

4. Keep Taxable and Non-Taxable Sales Categories for Easier Tracking

Almost all states require sales tax. Here in Michigan we

collect 6% on sales to Michigan customers. At the

Beginning of the year you should have set up a sales

tax rate according to your state, a taxable sales column

and non-taxable columns for example: Resale, Interstate

Commerce and Exempt Services to name just a few. All

of this can be set up (see video) in the Deposits area of the

January file so Big E-Z System can accumulate the totals

you can later put on your state sales tax return.  

5. Use the Account Balance Tracker To Be

Sure You’re Capturing All Expenses

Now for the tricky part:  did you charge or pay cash for any expenses? If so, did you record those in the Cash & Charges area of Big E-Z? This is precisely where Big E-Z shines! The Account Balance Tracker (see video) allows you to reconcile ALL OF YOUR ACCOUNTS not just your checking account. So all your savings interest, loans and fees, credit card transactions, and online sales etc. can be accounted for. It will allow you to quickly see if you missed recording any expenses.  

6. Send Your YTD Income Statement to Your Accountant and Tax Time is Done!

Once all your data has been entered (and reconciled, of-course) it is a matter of printing some simple reports and transferring those totals from the Year-To-Date Income Statement to your Schedule C---and that's it.