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Use our Year-End Checklist for Small Businesses to Prepare Your Business for 2020

Checklists for small businesses can be long. But taking time to complete year-end tasks will help you be prepared for the new year. You can also get a better idea of how the year has gone. You can make better decisions if you are familiar with your business. This year-end checklist for small businesses can help you assess your past year and make plans for the future.

Small Business Tax Checklist for Year End

The end of the fiscal year is the time to manage data. Planning ahead will help you reduce tax costs and streamline reporting for next year. You’ll have to do the following tasks:

    • Total payroll. Calculate tax on W2 and 1099 for full-time, part-time, and contractor employees.
    • Organise your documents and files for receipt filing. This advice is from Business2Community. They recommended a coherent file scheme to help you access the data at tax time.
    • Calculate your income and defer invoices. USA Today reported that companies who exceed expectations might want to delay invoicing projects until the following tax year to move income into it, thus reducing immediate taxes.
    • Upgrade your accounting abilities. Another recommendation from Business2Community that highlights the importance of hiring an accountant and purchasing accounting software.
    • Accounting Prose explains how to tally assets. Include insurance and inventory so you can correctly report at tax time.
    • Make sure you balance your books. You should be able to accurately represent the year.


A small business’s checklist for the end of the year should include a section on tax management. This effort could help you save on taxes for the next year.

Checklist for Small Business Year-End Reporting

It is natural to reflect and plan for the new year at the end of each year. It would be a waste of time to create a year-end checklist for small businesses if you didn’t do this. Here are some reporting tasks you should prioritize before the year ends:

    • Financial Reporting: Collect data to evaluate your income, expenses and revenues. This data can be used to determine where your business is generating revenue efficiently and where it needs to invest in order to improve its operations.
    • Employee Reporting: Gather reports about your workforce to evaluate performance, identify areas where you need to support teams, and begin planning how to add more workers in the future. Use reports to compare hours worked to productivity metrics, and to examine staffing costs in relation to value created.
    • Reporting KPI Key performance indicators (KPIs) are important metrics that measure the success of your business. As part of your small business year-end checklist, you can pause and focus on the most important performance metrics. Consider KPIs such as customer lifetime value (CVV), marketing cost per generated lead, and sales cost per conversion.


Reporting is a key component of a small business year-end checklist. You can’t plan if you don’t have the annual reports of different parts of your business.

Checklist for Small Business Planning at Year End

You should include in your year-end checklist for small businesses some planning tasks that will help you to move forward into the next year. Consider these issues:

    • Hiring Plans: What are your plans for next year’s staffing?
    • Technology/Equipment Plans: How much money will you invest in IT or specialized equipment next year?
    • Strategic Planning: Which business model, culture or revenue goals should you prioritize for next year?
    • Marketing plan: What is your marketing strategy for next year?
    • Small business financing : What can finance planning do to help you reach your goals?


This is not a comprehensive checklist for small businesses. Every business has its own unique requirements. It can help you plan ahead and wrap up the year in a good way. QuickBridge will help you to implement the necessary financing plans so that you are truly ready for 2020.

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