How Are Your Books Looking?
A mid-year check-in is not just about staying organized — it’s about catching problems early, spotting trends, and making smart decisions for the second half of the year.
Here’s a simple checklist to help you evaluate where you stand:
Mid-Year Financial Checklist
1. Review your year-to-date (YTD) income and expenses. Compare your actual numbers to your budget or projections. Are your expenses higher than expected? Is revenue keeping pace? This snapshot helps you adjust if needed.
2. Reconcile your bank and credit card accounts. Make sure all transactions are recorded and categorized correctly. If you’ve been behind on this, now’s a great time to catch up.
3. Check your accounts receivable. Any overdue invoices? Follow up with clients and consider adjusting payment terms to improve cash flow.
4. Update your estimated tax payments. Have your earnings changed significantly since the start of the year? You may need to adjust your quarterly tax estimates to avoid a surprise next April.
5. Assess your profit margins. Look at your cost of goods sold (COGS) and see if margins have shifted. Rising costs or missed pricing opportunities can eat into profits quietly.
6. Review your payroll and contractor payments. Ensure proper classification and that you’re withholding correctly — especially important if you’ve hired seasonal help this summer.
Taking an hour to do this mid-year review can save you hours (and possibly dollars) later on. If your books feel overwhelming or unclear, you’re not alone — this is exactly where a trusted CPA can help.
At J.A. Green CPA, we work with small business owners year-round to simplify finances and make sure you’re never caught off guard. If you would like help reviewing your numbers or making a plan for the rest of the year, we are here for you.
Contact J.A. Green to schedule a mid-year check-in — and finish the year strong.
