Ah, the end of the year in Chicago—a time when your small business is either riding the holiday wave of cheer or buried under a mountain of orders. Whether you’re shaking up the Windy City or taking a leisurely stroll through the holiday markets, don’t let the hustle and bustle cause you to neglect your year-end checklist. It’s time to roll up those sleeves, channel your inner elf, and take care of some important business tasks to ensure a smooth transition into the new year. Here’s your ultimate year-end business checklist, crafted just for you.

1. Review Last Year’s Revenue Goals

Let’s face it: at the start of the year, we all set ambitious revenue goals, inspired by dreams of sugarplums and fancy spreadsheets. Now that you’re nearing the finish line, it’s time to pull out that trusty spreadsheet and see if you hit the mark—or if you’re still stuck in the holiday shopping rush. If you’re lagging, think about how you can make up those numbers in the final stretch. Did someone say last-minute marketing push?

2. Run Year-End Financial Reports

It’s like checking your pulse: running year-end financial reports is crucial. Dive into your Profit & Loss Statement, Balance Sheet, and Cash Flow Report. These documents are like the menu at a fancy Chicago restaurant—they tell you everything you need to know about your business. If the numbers aren’t looking as delicious as that deep-dish pizza, it might be time to consult your accountant. Remember, knowledge is power (and profit).

3. Update Employee and Payroll Information

Before you start ringing in the New Year, take a moment to ensure your employee records are up to date. Check that you have the correct phone numbers, addresses, and payroll info. This is also the perfect time to audit any access former employees might still have to your systems—because, let’s be honest, nobody wants an ex-employee playing Santa with your financial data.

4. Update Your Vendor Files

Is your vendor list looking a little shabby? Use this time to polish it up! Confirm that you have the latest contact details and contracts for your suppliers. A little update can go a long way—just like a good slice of Giordano’s pizza. It’s also a great chance to assess any new relationships you’ve built over the year.

5. Conduct a Physical Inventory

It’s inventory time! Don’t just count the leftover holiday decorations; take stock of your actual inventory. Knowing what sells and what lingers longer than a Chicago winter will help you make informed purchasing decisions for the upcoming year. Plus, you might discover that one product no one wants to buy can be returned for something fresh and exciting.

6. Back Up Your Computer(s)

Let’s be real—no one likes doing backups, but it’s essential. All your crucial business data deserves a cozy little backup file. Make sure to back up everything from accounting data to that hilarious office meme collection. Choose a reliable backup drive or cloud service, and remember: a backup today keeps the chaos away!

7. Create a Log of Your Business Accomplishments

Before you head out to celebrate New Year’s Eve, take a moment to reflect on everything you achieved this year. Whether it’s landing a big client or mastering the art of the perfect pumpkin spice latte, jot it down. This list will not only lift your spirits but also set a positive tone for the coming year. Sharing these successes with your team will create camaraderie and elevate morale, ensuring you all ring in the New Year with enthusiasm.

As you race through the holiday season, don’t forget to tackle this checklist. A little year-end housekeeping will set you up for success in the new year. And if you’re looking for some funding solutions to help your business thrive, give Viking Funding a call at 754-812-9181. We’re ready to help you kickstart your growth for the upcoming year!