Closing Out the Year: Operations Housekeeping for Small Businesses

Reflecting on the Past Year
Before diving into tasks, take a moment to reflect. What worked well this year? What could have gone better? Use these insights to guide your planning. For example, if a particular process caused recurring delays, note it for improvement in the coming year.

Reconciling Finances
Year-end is the ideal time to ensure your financial records are accurate. Reconcile accounts in QuickBooks or your preferred accounting software, finalize invoices, and review outstanding payments. Doing this now prevents surprises during tax season. If you are a sole proprietor or have a fiscal year end that aligns with the calendar year end, this is an opportunity to make changes in processes. If you want to have better reporting and thus track things differently now is the time to do it. 

Organizing Files
Clear out digital and physical clutter. Archive old files and organize active ones into folders for easy access. A tidy workspace makes starting the new year feel less overwhelming. You can archive the previous year files.

Reviewing Goals and Team Performance
Look back at the goals you set for the year. Did you meet them? If not, why? Celebrate wins and use misses as learning opportunities. If you have a team, review their performance and discuss intentions for the upcoming year.

Setting Intentions for 2025
End the year with a clear vision for what’s next. Identify three to five key goals for 2025, such as improving efficiency, launching a new product, or increasing revenue.

Need help wrapping up your year? Book an Optimization Audit with us to ensure your operations are ready for a fresh start in 2025.

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