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FREE Q3 Closeout Checklist by Pro Back Office

FREE Q3 Closeout Checklist by Pro Back Office

“Time is quickly running out, and the 3rd quarter is almost over.”  Sounds like a perfect sports cliché, but in this instance, it’s all about your 3rd fiscal quarter. Is your business ready to keep the momentum going toward a strong Q4, or will that dreaded administrative backlog divert your resources and distract your business from accomplishing all it’s capable of?

Wouldn’t it be great if there was a “playbook” of sorts to ensure optimal efficiency for a Q3 closeout? If only your business had some expert, inside knowledge of what to do…

Lucky for you, one of Southern California’s fastest-growing business outsourcing providers, Pro Back Office, is giving you a free glimpse of their own proven, time-tested methods for an effective, efficient Q3 closeout.

What should YOUR business be doing to close out the 3rd quarter?

  1. Cash flow check in - Cash is the lifeblood of your business. Before Q3 closes ensure you know exactly how much cash flow you have, down to the last hundred dollars.
  2. Budget to actual comparison like our last newsletter, "The Halfway Point" mentioned - Firm up your budget for a seamless quarter-to-quarter transition.
  3. Double-check your HR handbook is updated with new laws and guidelines. - The smallest slip-up could cost your company quite a bit in the long-run.
  4. Your 2017 compensation plan and 2016 Bonus program. - Are your employees justly compensated? How do your new positions stack up with competitors’ pay? Should you pay bonuses at year-end?
  5. Are there other ways to streamline your processes, such as payroll, invoicing or time card entries? Are you getting accurate financials on time? If not, what is your month-end process?
  6. Complete performance evaluations. - Are the managers really the right managers to review people?
  7. Do you need to increase rates or the price of your product? - Getting optimal return for your  services and products is essential for your bottom line.
  8. Debriefing process for lost clients and staff - Why did you lose a particular customer? What could your business have done differently to ensure client retention? What percentage of your staff left so far this year versus last year and why?
  9. Proposal & Engagement Letter Templates – These are some of your most important business templates, so make sure your proposal and engagement templates are up-to-date heading into Q4.
  10. OTHER POLICIES TO BE UPDATED
  • Mileage Policy
  • ACH and CC Payments
  • Referral Fees
  • Employee Onboarding
  • Job Descriptions

There you go: Our top 10 tips to close out Q3 and prepare for the best Q4 possible. We have more checklist items if you’re ready to take the next step and explore outsourced business services, please call Pro Back Office today at 858-622-1681. You can also send us a secure message on our contact page.

Author

Jennifer Barnes
Pro Back Office CEO and Co-founder
Jennifer has a MBA from SDSU, an undergraduate degree in Finance and Marketing from the University of Arizona, a degree in Accounting from Liberty University and completed the Becker CPA courses. Through a couple consulting firms, Jennifer acted as the Controller at numerous companies in Arizona, San Diego and Orange County. She also held the position of Director of Finance and Accounting at many well-known non-profits throughout San Diego County. Jennifer sits on numerous boards and councils, including The Better Business Bureau, The Business Executives Council, The San Diego Food Banks Leadership Council, The MIT Wine Social Committee, and Junior Achievements Young Executives Board. She is a member of both Vistage International and Sage Executive Group.

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