We’re halfway through the year—the perfect time to pause, reflect, and realign your business finances. A mid-year bookkeeping review helps you catch issues early, celebrate wins, and make smart decisions for the rest of the year. Here's your step-by-step guide to checking in with your books.
1. Review Your Profit & Loss Statement
Start with your year-to-date P&L report:
Are you on track with revenue goals?
Are any expense categories higher than expected?
Are you consistently profitable or just breaking even?
Use these insights to adjust your strategy if needed.
2. Check Your Cash Flow
Cash flow is king. Look at your inflows vs. outflows:
Are you collecting payments on time?
Do you have enough reserves for unexpected costs?
Are there any seasonal trends you should prepare for?
Improving your cash flow now can make the second half of the year smoother.
3. Reconcile Your Accounts
Make sure your bank, credit card, and loan accounts are fully reconciled through May. This ensures your financial data is accurate and up to date, which is crucial for decision-making and tax prep.
4. Revisit Your Budget
A lot can change in six months. Adjust your budget to reflect:
Actual income vs. projections
Changes in vendor costs or operating expenses
New business goals or upcoming investments
5. Evaluate Your Systems
Is your current bookkeeping system still working for you?
Are you spending too much time on manual tasks?
Are you missing transactions or making frequent corrections?
Would automation or a professional bookkeeper lighten the load?
Let’s Set You Up for a Strong Finish
A mid-year review can be a game changer. If you want an expert eye on your books and guidance on how to course-correct, I’m here to help.
🗓️ Schedule your free 20-minute bookkeeping consultation here:
Let’s make the rest of your year as profitable and stress-free as possible!
