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Essential Financial Checklist for Growing Businesses

Stay organised, stay compliant, and stay on track for growth.

As your business expands, strong financial management becomes more important than ever.
This checklist is designed to help you keep control of your finances and give your business the best chance of long-term success.

Monthly Tasks
  • ​Update and reconcile your bookkeeping

Ensure all income, expenses, and bank transactions are recorded accurately.​

  • Review cash flow

Check your cash inflows and outflows — identify any upcoming shortfalls early.​

  • Issue and chase invoices

Send invoices promptly and follow up on overdue payments to maintain a healthy cash flow.

  • Pay suppliers on time

Keep good relationships with your suppliers and avoid unnecessary late fees.

  • Set aside tax obligations

Put aside money for VAT, PAYE, CIS and corporation tax as you go.

Quarterly Tasks
  • Submit VAT return

Ensure your VAT records are accurate and file your returns before the deadline

  • Review management accounts

Understand how your business is performing. Review the profit & loss account, balance sheet and cash flow reports.

  • Adjust budgets and forecasts

Update your financial projections based on your latest performance and plans.

  • Assess credit control processes

Review customer payment habits and tighten processes if necessary.

Annual Tasks
  • Prepare and file statutory accounts

Ensure your year-end accounts are accurate, compliant and filed on time.

  • Submit your corporation tax return

Double check all allowable expenses and reliefs to minimise your tax bill.

  • Conduct a financial health check

Review profitability, cash flow, debt levels and growth opportunities.

  • Set financial goals for the year ahead

Create clear financials targets aligned to your business strategy.

Bonus Tips for Growing Businesses
  • Invest in best in class financial systems

The best financial systems provide a platform to ensure your data is captured efficiently and accurately. This data is then available to provide you with real-time financial insights.

  • Consider outsourcing your finance function

An outsourced finance team can help you scale efficiently without the overhead of a full in-house department.

  • Seek expert advice early

Proactive financial advice can help you avoid costly mistakes and seize growth opportunities.

Need Help Managing Your Financial Affairs?

Strong financial management is the foundation of every successful business.

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Get in touch today to find out how NEXA Accounting can help you stay organised, compliant and ready for growth.

If you would like a PDF version of this document, please drop us an email and we will be happy to send you a copy.

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