Have You Faced Your YEWU? – Time for Year-End Wrap-Up!

PennyLast year, as I was heading home from the office on New Year’s Eve, a beautiful (and hilarious scene) dropped into my mind. We had been busy facilitating Year-End Wrap-Up appointments for all of our wonderful clients. At Polymath, we loving refer to this process as the YEWU (). That fateful evening, I realized that the YEWU was also so much more.

A Little Background

As many of you know, the Ask A Bookkeeper show on YouTube has many more characters in the works that have not yet made it to your computer screen. Penny the Practical Professional will not continue to be the sole starlet of our little show. These characters are pretty well formed in our minds, and we just need to find more time to create and frolic with puppets in between playing with QuickBooks and meeting with our awesome small business owners. One character that has taken a leading role in our minds is Procrastinator Gator. Without revealing too much about Gator’s story, let me just say that over the course of our tale he becomes The DeleGator. (Pretty neat, huh!)

A Fateful Drive

That New Year’s evening, as I drove home singing SJ Tucker’s “Ask Me Anything” loudly to myself, I was suddenly struck by a vision.

Procrastinator Gator was asking, “Hey, Penny? What’s a YEWU?”yewu

To which Penny replied, “Oooh! A YEWU is a rare and magical creature that only comes around once a year. It is half yeti and half emu! And…”

At which point I come on screen and say, “Penny, what are you talking about? YEWU stands for Year-End Wrap-Up. It’s the process we go through at the end of each year with all of our clients to make sure that their 1099’s and W2’s get done on time and that their books are all clean and ready for their tax accountant.”

We then go on to talk about some of the important details of the YEWU() process.

The damage has been done. The half-yeti half-emu monster at the end of your QuickBooks was born! Even if he does not yet exist “in the fuzz”, in our hearts we have already welcomed him to the Ask A Bookkeeper cast of characters.

The YEWU

As is the case with most of our characters, once the YEWU had been conceived, there was no putting him back in the box. Every time we enter the Year-End Wrap-Up process with our clients, we are secretly thinking of fuzzy marionettes. While the YEWU may look a little scary, he is actually very cuddly and serves an important role in every business ecosystem.

As we near mid-December, we have already met with most of our clients to begin their YEWU() process. We want to make sure that all of our clients are on track for their 1099 and W2 filings. Also, we want to make sure that we’re getting clean and complete books off to each client’s tax accountant in a timely fashion. The cuddly YEWU helps with all of that, making sure that nothing slips through the cracks.

Have you faced your YEWU this year? If not, give us a call to schedule an appointment right away.

Also, if you are an accountant wanting to learn more about our YEWU() process, please feel free to ask. We are generally happy to share. Together we are making the world a better place, built on a foundation of thriving small businesses.

Happy New Year, and Happy YEWU!

 

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