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  • Writer's pictureDavid Lawrence

Closing out the year. A checklist to ensure you are entering the new year on the right foot.

Updated: Sep 27, 2023

Here are some year-end checklist items to ensure you have a successful transition to 2024. We know it is already the end of the year. Yikes!

Time comes at a premium during the holiday season. The end of the year brings chaos as everyone scrambles to get organized. Many are stressed with family flying in for the holidays, school seems nonexistent for children, and running a business on top of it is pure craziness. But we want you to know, we hear you, and we are here to help. Service at Primetrics is a core value because, over the years, we have seen it all and have empathy for business owners.

  • Proactively reach out to your tax preparation CPA and confirm that they are completing your 2023 tax returns. Many CPAs will retire this year and are not preparing returns for 2023. You will need to find a new preparer if that is the case.

  • The end of the year is going to be crazy again. Sit down with your accounting team and finish cleaning up open items. Review your financial statements and make sure you understand all the account balances.

  • Start collecting any vendor information (W-9s) for 1099s that you need to do. (due 1/31/2024)

  • Take a hard look at Accounts Receivable. Don’t compound a collection problem by paying taxes on uncollectable accounts.

  • Scrub your payroll liability accounts. These are always getting out of sorts because employees change benefits or leave the organization. By getting organized, you will save money and be ready for the end of the year.

  • BACK UP EVERYTHING! This is a great time to back up any data or applications. Take a look at your IT footprint. Are there applications you are paying for that you don’t need?

  • Bonus time! Start the process now and identify team members who went above and beyond. Then, take note of some of their significant accomplishments from the year. Staff wants to hear how they did a great job as part of the year-end review process. A personal note is a great practice to start at your company.

  • Start thinking about budgets and goals for 2024 now! Get ahead of next year, so you can hit the ground running in 2024. Be proactive in communicating goals to your team.

  • Finally, make a checklist (see what I did). Tools like Trello and are great at helping you manage your time and your team. Keep it simple, use a tool everyone can access, and don’t overthink it. A simple list of items for you and your team to knock out is all you need.

Have questions? Find out if you are prepared for the new year.


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