Mid-Year Financial Checkup for Small Businesses | Skyplex Management

Get your business ready for Q4 with a mid-year financial checkup. Learn key steps to improve cash flow, reduce taxes, and plan ahead for year-end.

Why August Is the Perfect Time to Look Ahead

Mid-August is a critical pivot point for small businesses. Summer’s slowing down, Q4 is coming fast, and the financial decisions you make now can make the difference between scrambling at year-end and finishing the year strong.

A mid-year financial checkup helps you:

• Spot cash flow gaps

• Identify tax-saving opportunities

• Set realistic targets for Q4 growth

✅ 1. Review Your Year-to-Date Financial Statements

Pull your Profit & Loss, Balance Sheet, and Cash Flow statements through July or early August.

Ask yourself:

• Is revenue on track to meet your annual goals?

• Are expenses creeping up in certain categories?

• Is your net profit margin where it should be?

➡ Pro Tip: Compare this year’s numbers to the same period last year to identify trends.

✅ 2. Update Your Cash Flow Forecast

With 4½ months left in the year, project:

• Expected income based on booked contracts or historical sales

• Fixed and variable expenses for the rest of the year

• Seasonal fluctuations in your business

➡ This will help you determine if you need to adjust payment terms, delay big purchases, or boost collections efforts.

✅ 3. Check In on Tax Liability

By August, you have enough data to make accurate estimated tax adjustments.

• Calculate whether your Q3 estimated payment (due September 16, 2025) will be accurate.

• Identify deductible purchases you may want to make before year-end.

• Talk to your accountant about strategies like Section 179 depreciation or retirement plan contributions.

✅ 4. Tighten Accounts Receivable & Payables

• Follow up on overdue invoices to improve cash inflow.

• Negotiate payment terms with vendors if needed.

• Avoid paying bills too early unless you’re taking advantage of early payment discounts.

✅ 5. Evaluate Staffing & Resource Needs for Q4

Q4 often brings:

• Holiday sales spikes

• Year-end reporting

• Tax prep work

Plan for temporary help, overtime, or outsourcing now so you’re not short-handed in December.

✅ 6. Plan Your Q4 Marketing & Sales Push

August is the right time to:

• Map out promotions for the holidays

• Launch campaigns early enough to build momentum

• Allocate budget for end-of-year visibility

➡ Pair your marketing plan with your cash flow forecast so you don’t overspend.

Wrap-Up

A mid-year financial checkup isn’t just about numbers — it’s about control. By reviewing your books now, you can take proactive steps to boost profits, reduce taxes, and end the year on your terms.

📅 Let’s Build Your Q4 Game Plan

At Skyplex Management, we help small business owners clean up their books, optimize cash flow, and create strategic year-end plans.

Book your free consultation today →

👉 Calendly.com/kevin-skyplexmanagement

Skyplex Management LLC

4020 Kinross Lakes Parkway, Suite 110

Richfield, OH 44286

📞 (440) 554-0025

🌐 www.skyplexmanagement.com