The end of the year isn’t only about holiday parties and peppermint mochas. It’s also that moment when most of us pause and say, “Alright, how did things go this year?” If you want to walk into 2026 feeling motivated and confident, here are a few things worth checking off your list.
1. Reconcile every account.
Anything that is about money counts. Bank accounts, credit cards, PayPal, Stripe, loan balances — pull your December 31 statements and make sure everything is reconciled. Starting the year clean makes everything else easier.
2. Review your Profit & Loss and Balance Sheet.
Scroll through and see what jumps out. Weird balances, missing expenses, categories you don’t even remember creating — those are the things to clean up now, not in the middle of tax season.
3. Update your assets and depreciation.
If you bought equipment or a vehicle this year, get it recorded. It affects both your books and what your tax professional needs from you.
4. Verify payroll and contractor info.
Review employee details and make sure you’ve collected W-9s from all contractors. If you’re doing bonuses or owner draws, review those too. And skip giving employees holiday bonuses in cash. If you want it treated as a deductible business expense, it has to be added to their W-2.
5. Review your Profit First percentages.
If you use Profit First, take a minute to see if those percentages still fit your goals. Sometimes a small adjustment makes a noticeable difference in the new year.
6. Set your 2026 budget or forecast.
Look at your 2025 actual numbers and map out what you expect for next year. Even a simple plan for revenue, expenses, and cash flow puts you way ahead.
7. Reflect and celebrate.
Running a business for another year is no small thing. Take some time to reflect on what worked, what didn’t, and what you want more of going forward. And take a minute to celebrate positive momentum forward no matter how small it seems.
If any of this feels overwhelming and confusing, you don’t have to work through it alone. At CFO Accounting Services, we help business owners close out the year, get their books cleaned up, and head into the new year with a whole lot more clarity.
Let’s finish your year strong.
