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Run a small business? Follow this end-of-the-year checklist before 2022 ends
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The new year is right around the corner, which means it’s time for New Year’s resolutions, paperwork filing and holiday vacations. For busy business owners, there’s a lot to keep track of. Make sure you don’t forget anything important with this small business checklist.
We put together some of the most important steps you should take before the year ends. Now is the time to tie up loose ends, take an inventory of your business and sniff out any weak spots holding you back. It’s important to take some time at the end of each year to do a thorough review of your company.
It doesn’t have to be too hard; just do everything on this checklist and you’ll be fine. You may uncover some hidden fees costing your small business money. Scroll down to make sure you aren’t holding yourself back.
This tip is brought to you by our sponsor, NetSuite. Read to the end to see how NetSuite can transform your business.
There are just 7 steps in our small business checklist for 2022
Here’s what to do to end the year the right way.
1. Check the books
Bookkeeping mistakes can haunt you throughout the new year, holding you back when you want to move forward. That’s why you should review all of your insurance policies, accounts and more.
To close the books, check your:
- Invoices.
- Business expenses.
- Bills.
- Contractor payments.
- Bank account statements.
- Payroll taxes.
- Employee documents.
Basically, you want to make sure all of your papers are in order in case 2023 throws any curveballs, like employee litigation, natural disasters or E&O penalties. Make sure you have the proper coverage so your business can survive any scary surprises life throws your way.
2. Revisit your inventory
Tech tip: How to find anyone’s email address online
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Keeping up with your inbox feels never-ending some days. Between work, your personal life, and all that spam, you might have hundreds of emails to sift through.
Is junk mail getting you down? Do something about it. Spending a little time once will save you from clicking “trash” all day. Tap or click for five simple ways to stop spam.
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