With two months left in the year, it's easy to let finances wait until January. But the weeks before December 31 are some of the most valuable for getting organized and making informed decisions. Here are six moves worth making now.
1. Catch up your bookkeeping
Make sure your transactions and accounts are current. If you're behind, start with one recent month and work forward. Every caught-up month makes the rest easier.
2. Organize your financial documents
Gather receipts, invoices, bank and card statements, and contractor information. Having everything in one place saves time and stress later.
3. Review your year-to-date numbers
How much revenue have you brought in? What are your major expenses? Roughly how profitable is the business? You can't plan well without knowing where you stand.
4. Review your tax position
Don't wait until filing time to discover a problem. Understand your estimated tax responsibility and talk with a tax professional about decisions to consider before year-end.
5. Deal with outstanding financial issues
Behind on books? Missing documents? Unsure about estimated taxes? Whatever you've been avoiding, now is the time to name it and handle it, while there's still time.
6. Schedule professional support if you need it
You don't have to do this alone, and your finances don't have to be perfect before you ask for help. There's still time to get support before the year closes.
Your Top 3
You don't need to do all six this week. Pick the three that matter most for your business, write them down and start with one.
Our free Year-End Business Money Checkup ends with space for exactly that.
Want help making your plan? Book a consultation with Parks Projects NJ