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Q2 Bookkeeping Tips Colorado Businesses Can’t Afford to Miss

  • Writer: Averil Barmann
    Averil Barmann
  • Apr 29
  • 2 min read


As Q2 unfolds, small and medium-sized business owners across Colorado Springs, Monument, and Denver are gearing up to stay ahead of their financial responsibilities. Whether you’re a service provider, retailer, or local entrepreneur, keeping your books in order is key to scaling your business and staying compliant.


Here at Barmann Bookkeeping, we specialize in helping Colorado-based businesses take the stress out of bookkeeping—so you can focus on what you do best. Below are our top Q2 bookkeeping tips tailored for local business owners:



1. Reconcile Bank Statements Monthly

Q2 often brings increased business activity as the weather warms and consumer spending ramps up. Make sure to reconcile your bank and credit card statements at the end of each month to catch any errors or unauthorized charges early. Staying current also prevents costly surprises at tax time.


Need help staying organized? Check out our bookkeeping services to see how we can support your monthly reconciliations.



2. Review and Adjust Your Budget

Use Q2 as an opportunity to review your budget versus actual spending. Are you overspending on certain categories? Have your revenues increased? A mid-year budget check-in helps you forecast cash flow and reallocate resources for the summer months ahead.


For those in Colorado Springs or Denver, you might consider attending local workshops like SBDC’s financial planning classes to sharpen your budgeting skills.



3. Automate What You Can

Time-saving tools like QuickBooks Online can drastically reduce manual data entry and increase accuracy. If you're not sure which software fits your business, we can help you evaluate and implement the right system.



4. Stay On Top of Sales Tax

In Colorado, managing sales tax can get tricky—especially if you operate in multiple municipalities like Monument or Denver. Make sure you're collecting and remitting taxes properly based on where the sale takes place.

Colorado Department of Revenue – Keep up with the latest updates on local sales tax requirements.



5. Track Q2 Estimated Tax Payments

If your business is profitable, don’t forget your estimated tax payment is due June 15. Missing this deadline can lead to penalties. Make sure your profit and loss statements are accurate.

Need help calculating your Q2 estimates? Schedule a consultation with us and get peace of mind before the deadline.



6. Evaluate Contractor vs. Employee Status

Hiring help this spring? Ensure you're classifying your workers correctly. Misclassification can lead to audits and fines from the IRS and Colorado Department of Labor.

Colorado Wage and Hour Laws – Stay informed on current regulations for hiring and classifying workers.



Bonus: Connect With Local Professionals

Networking with other small businesses in Colorado can provide insight and resources for smarter financial management. We recommend checking out:




Let Barmann Bookkeeping Keep You on Track


Q2 is a critical time for checking the pulse of your business’s financial health. If you're feeling overwhelmed or just want an expert eye on your books, Barmann Bookkeeping is here to help. We offer personalized, remote bookkeeping services for small to medium-sized businesses throughout Colorado.


Ready to take control of your finances this quarter? Book a free consultation today.


 
 
 
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