Small Business Year End Checklist

The end of the year is a busy time. Two of the biggest holidays fall within the last two months, with big shopping days, time off, and visiting with family and friends. It’s easy to get lost in the craziness and forget about the needs of your small business.
In order to avoid a nightmare when 2015 hits, follow this year end checklist to wrap things up from 2014, like a gift to yourself in the new year.

  • Check out your Profit & Loss report to see where you stand, and make sure all financial books are in order. See an example here.
  • Cash checks and make sure all transactions are closed. You don’t want to start the new year owing money or missing out on finances you haven’t attended to yet.
  • Evaluate your tax strategies, and prepare any necessary tax documentsyear end checklist taxes
  • If you have any fringe benefits you should report on W-2’s, make sure you have them figured out. These can include health & life insurance transportation subsidies, educational reimbursement programs, etc.
  • Look back at the goals for this year, see which ones were accomplished and which ones weren’t, and plan next year’s goals accordingly.
  • Plan your budget for the upcoming year based off how this year went and any foreseeable growth.
  • Get organized. Starting the new year with paperwork filed and in order will start the new year on a good note.
  • Make sure your staff feels appreciated. Even if you can’t afford end of year bonuses or gifts, small notes showing your gratitude for their hard work can get them geared up for next year’s work.
  • Check all links on your website to ensure they’re working, and back up all files.
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