Journal compliance & calendar match

 Busy notaries public also need to be extremely detail oriented. This is especially true when it comes to every entry in your notary journal. The end of the year is a great time to reconcile notary appointment dates in your calendar against the entries in the notarial journal. First check that each entry is complete with the date, time, fee, payment, character of the document and its date, the notarial act performed, signer’s name per their identification document, clients’ signatures and thumbprints if required. A good practice is to address any skipped lines in the notarial journal with a line through the entire entry, a note as to why the line was not used and a date and  an initial. It is common that when completing sequential entries in the notarial journal that you may have one line left on a page. However, your next client may be signing off well more than just that one entry. That’s when I strike out this entry so that it cannot be used and there is no confusion as to the reason why. Looking into your appointment calendar to confirm matches in your notarial journal for the year is a great double check that you didn’t miss out on any income that you need to invoice from a client. Payment recording is also a crucial check for your notarial journal. Making sure your journal is as complete as it can be at year end will save a lot of stress if a former client or even the Secretary of State asks for copies of your journal entries. An additional probe that is recommended is that if you have been scanning back loan or trust packages as a notary signing agent, be sure that all electronic copies have been deleted and that you have emptied your computer’s “recycle” folder as well to be sure that no “Personal Private Information” remains on your hard-drive.

Tax prep

Consistent reconciliation of payments and expenses over the year will ease the burden of any small business accounting tasks. Keeping receipts securely stored after entering their information in an electronic accounting system or spreadsheet is key. Noting any large business purchases or annual training costs in your calendar is a great way to triple check your accounting records. A form 1099 can be expected from any clients that paid you more than $600 for services over the course of the year.  Additional documents you should have ready for accounting reconciliation include invoices (electronic or paper copies), all receipts (purchases, parking/valet tickets), credit card statements and bank statements if you separate your notary work from your personal banking. If you don’t already work with a professional tax advisor, see if there are any associated with any business groups you already meet with to see if they offer reduced fees to help small businesses.

Supplies Inventory

In preparation for work in the following year, take inventory of your notarial supplies. These checks can include making sure stamp seals are working properly and are making clear, dark impressions. Have extra sealed ink trays for your seal stamp on standby in case your ink pad is drying out. If there is any cracking or warping of your seal stamp’s rubber plate it could affect the imprint. Make a few test impressions to make sure everything is in working order. The same goes for inked and inkless thumbprint pads; be sure the ink level is appropriate and not too dried out. If you are midway through your active notarial journal you should have the next one secured and ready to start up.  Take inventory of your miscellaneous business supplies such as business cards, pens, thank you cards, etc. Starting the new year off well supplied can speed up your business responses and be sure that you have not overspent on any items you use infrequently. Finally, audit the health and status of your business website. Be sure that messaging options are working correctly and any statements or stories listed are up to date. Broken links or outdated information might turn webpage visitors away and result in fewer new clients