Dec 22 , 2022

CFO Minute: How's Your Year End Planning Going?

AIOAs CFO Minute Blog

The fourth quarter is upon us. Is your organization positioned for a strong finish? As time allows, you can be starting your prep for taxes, and finalizing planning for 2023. Here’s a checklist for you to consider:

  • Check in on your financial books. Are they in order? Are there any gaps? Are they balanced? Are there any ongoing problems that need solving? Running quarterly and year-end financial reports will aid your analysis and provide key metrics to make decisions.
  • Review your revenue goals. How close are you to reaching plan? What can be done to lift shortfalls or maximize growth areas?
  • Review your financial safeguards. Here are 7 simple internal controls that will help you examine your current operations and ultimately protect your business.
  • Perform an end of year benefit review. Pay special attention to health insurance and PTO usage. Refine processes. Meet enrollment deadlines.
  • Evaluate progress on quarterly and yearly goals. Depending on progress, which goals can be reprioritized, or moved into the new year? What is needed to accomplish them by the end of December? It’s a good time to refocus or reenergize the team to make that happen. Collect W-9s from any vendors you’ve paid or will pay more than $600 in 2022.       
  • Review your current tax position and strategies. Send a copy of your year-end projection to your tax CPA and request a tax planning meeting. Engage your tax preparer to understand changes in tax code. Pull documents together, fill in gaps, be prepared.
  • Celebrate the wins. Plan ways to demonstrate both customer and employee appreciation.
  • Review the quarter budget and cash flow projection to plan for the coming year. Set goals for 2023. Get the team together and map out strategies and priorities. If you’ve never prepared a budget before or are in need of help preparing for year end, seek professional help. We are here to help whenever you need us. Feel free to contacts us at or via our website today to get the conversation started.

Accountability is key year-round, but especially as we near the end of Q4. Developing an end-of-year checklist can not only keep you and your organization on track, it can also help all team members better serve your customers. Here's a link to some of our other year end tips. Here's to a strong finish!