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Our End Of Year Checklist Will Set You Up for Success in the New Year

Updated: Jan 4

End of year planning and reviewing is a critical part of owning a small business. It’s what sets you up for success in the new year. Today I’m sharing my End Of Year Checklist, the things you MUST do to be successful.



1. Bookkeeping


Have you done your bookkeeping in the last 11 months? This may seem silly, but you’d be surprised how many people don’t touch their bookkeeping all year. The longer you put it off, the more daunting and expensive it becomes.


Bookkeeping is the foundation for you to finish this year strong and start the new year with a solid foundation.


There are four main tasks involved with bookkeeping:


  1. Enter Financial Transactions

  2. Reconcile your bank accounts, credit cards, and loans

  3. Count Inventory

  4. Reconcile Payroll and Contractor records


These four things have a significant impact on the rest of your End Of Year Checklist.

And if you haven’t done your bookkeeping or need support, our team can help.


2. Payroll & 1099s


Payroll has a significant impact on your team. Employee tax forms like W2 or 1099 are due by January 31st. Missing those deadlines has hefty penalties, and your team won’t be too happy either.


If you pay payroll with pen and paper and not a software program like Quickbooks, you’ll want to triple-check that you have accurate records.


3. Profit and Loss


The Profit and Loss Report is like your financial scorecard. It tells how you did financially over the last year. You can only pull this report once you have reconciled all your accounts and payroll, at least through November.


You’ll want to review your numbers and expenses.

  • How did you do in 2022?

  • Did you reach your financial goals?

  • Are there any expenses you need to cut back on?

  • Was your spending in line with your budget goals?


4. Tax Planning


You must have some form of financial record to correctly and accurately file your annual income taxes. You can start once you have your Profit and Loss report.


Work with your tax professional to estimate your tax payment. It needs to be paid by January 15th.


Your tax professional should also help you with last-minute tax planning. Is there an impact any additional charitable contributions, retirement contributions, or other spending will impact your taxes?


Our goal at Curtis Accounting Solutions is to ensure our clients keep as much cash in their wallets as possible. We work with our clients every step of the way and ensure their financial goals reflect that too.


5. Set your 2023 goals


Before you set goals for the new year, you need to review your goals from last year. Did you meet, exceed, or fall behind?


Goals are how we track our progress toward our ultimate vision and mission. They are the roadmap and driving force to get from where we are today to where we want to be. If this is the first time you review the goals you set back in January, or you didn’t set any goals, then you’ve got to make a change for the new year.


While you are reviewing your goals, review your vision and mission too. Are there any changes you need to make to fulfill your mission in the new year?



Goals should be

  • Specific

  • Measurable

  • Attainable

  • Relevant

  • Have timelines (deadlines).


You need to be bought into your goals. If you are missing one of these factors, you’ll most likely find it challenging to achieve your goals throughout the year. You may find yourself unmotivated or thinking that the goals aren’t possible.


I recommend setting goals in these areas: financial, business, intellectual, health, family, social, and spirituality. These seven areas are about you personally, but your business grows too when you grow.


For your business, you’ll want to set goals in these areas: sales, marketing, financial, employees, systems, and community impact.




As you review these items from the End Of Year Checklist and set yourself up for success in 2023, join me on a free webinar Tuesday, December 13th. You’ll discover a method to get the most out of your cash and find financial freedom for your business and your life.



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