Cleanup and Planning: Quarterly and Year-End Checklists

Posted by on Dec 31 2014

It’s here — the end of the last quarter of the year! It’s time to do some “good housekeeping” in preparation for the year-end of your business.

At the end of the year, it’s important to both close-out the old year properly as well as plan for the new year. I recommend you start this process early so that there isn’t a last-minute rush to complete your year-end closing tasks. Even better, do this quarterly so that you remain caught-up with the tasks. Here are some ideas that you might want to add to your quarterly and annual checklists:

Year-End Cleanup and Closing Tasks (some of these can be done quarterly, too!)

  • Enter all revenue and expenses into your record keeping system.
  • Send final invoices for current year.
  • Reconcile your bank account records with bank statements.
  • Estimate your last tax payment for the current year (many self-employed people make quarterly estimated tax payments…the final payment is usually due on January 15)
  • Mail holiday cards and gifts to clients/customers
  • Make holiday offers to clients/customers
  • Clean out old files/emails
  • Create year-end accounting reports and compare to goals for year
  • Tally business-related mileage for quarter/year
  • Tally expenses by vendor and prepare 1099’s if needed
  • Contact your accountant and discuss year-end tax planning

Planning Tasks for the New Quarter/Year

  • Write a list of goals
  • Write a list of tasks that need to be accomplished in order to achieve those goals
  • Write a list of projects you’d like to start or complete
  • Create an updated marketing plan
  • Create an updated budget
  • List the topics you’d like to study, the classes you’d like to take, or the books you’d like to read, to keep you up-to-date with your industry and business skills
  • Schedule upcoming classes you’ll teach and distribute that Calendar of Events to clients and staff

Cleanup and planning tasks don’t just happen in December and January. If you review these tasks quarterly, they won’t sneak up on you on December 31.


2 comments for now

2 Responses to “Cleanup and Planning: Quarterly and Year-End Checklists”

  1. CathyPNo Gravatar

    Hi Karyn,

    I just can’t believe how quickly the year has gone by ! This is a gret reminder for us business owners to do some much needed admin.

    06 Oct 2010 at 9:05 am

  2. Karyn GreenstreetNo Gravatar

    Sometimes I feel I need to schedule in a Quarterly Admin Day to my calendar, just to reminder me to get things in order. 🙂

    06 Oct 2010 at 11:52 am

Category: Business Strategy & Planning