Can You Believe We're Already Nearly Halfway Through 2025?
Monday, May 05, 2025
Mid-Year Bookkeeping Checks for Smart Business Owners
Time flies when you're running a business—and believe it or not, we're approaching the halfway mark of 2025. Now is the perfect time to pause, take stock, and make sure your books are in order. Mid-year financial check-ins help prevent surprises, reduce stress during year-end, and ensure you’re staying compliant and making informed decisions.
At J&S Accounting, we’re all about keeping things clean and simple for our clients. Here are a few essential mid-year bookkeeping checks every business owner should be doing right now:
Review Your 1099 Contractor Records
If you work with freelancers or independent contractors, now’s a great time to:
- Confirm you’ve collected completed W-9s from all contractors.
- Review payments made year-to-date to determine who will need a 1099-NEC at year-end.
- Ensure vendor information (name, EIN, address) is accurate in your accounting software.
Geting ahead of this task now means a much smoother 1099 season in January.
Check In on Quarterly Tax Payments
By mid-year, you’ve likely already made two estimated tax payments. Be sure:
- You’ve paid Q1 and Q2 payments on time.
- Your payments are aligned with actual business income—if revenue is up or down significantly, it might be time to re-calculate.
- You’re prepared for Q3, due in September.
Geting ahead of this task now means a much smoother 1099 season in January.
Review Sales Tax Filings
If your business collects sales tax, double-check:
- All required filings have been submitted and paid on time.
- You’re still collecting tax at the correct rates for your state and locality.
- Nexus rules haven’t changed, especially if you sell in multiple states or online.
Getting ahead of this task now means a much smoother 1099 season in January.
Reconcile Accounts Monthly
One of the most valuable habits in bookkeeping is monthly reconciliation. If you haven’t been doing this consistently:
- Start now by reconciling all bank, credit card, and loan accounts through April or May.
- Look for discrepancies, missing transactions, or miscategorized expenses.
- Ensure all payroll entries and transfers are correctly recorded.
Monthly reconciliations are the foundation of accurate reporting—and they make year-end a breeze.
Final Thought: Clean Books Mean Confident Decisions
Whether you're planning for growth, applying for funding or just want to sleep better at night, maintaining clean books throughout the year pays off. Mid-year is the perfect time to reset, catch up, and streamline your processes.
Need help reviewing your books or building better systems? J&S Accounting is here to support your business year-round—not just at tax time.
About J&S Accounting
At J&S Accounting, we provide expert bookkeeping services tailored to the unique needs of small businesses and non-profits. We recognize the challenges that come with maintaining accurate financial records and how vital this is for the smooth operation and growth of your business. As a woman and minority-owned firm, we’re proud to offer our expertise to businesses in Savannah, GA, and across the nation, helping them navigate financial complexities and achieve better financial management.
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The team at J&S Accounting are like working with trusted friends that you have had for a long time. Janel has personally walked me through my first year with QuickBooks as a small business owner, and has made it so easy and enjoyable. She is very professional, knowledgeable, and is always so affirming of how well I am doing. She really takes her time and you can tell that she cares about her customers and wanting them to feel confident about their business finances. I could not recommend this company enough!
- Kelsey H.
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J & S Accounting has made such a huge impact in our day to day operations at Kicklighter Resource Center. They are very hands on and truly take the time to educate us, whether in person or through trainings and tutorials. Their customer service and individualized care have remained top tier and we gladly recommend their services.
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Disclaimer:This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business from a professional accountant. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. J&S Accounting does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. J&S Accounting does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.
© 2023 J&S Accounting. All Rights Reserved.
Disclaimer
This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business from a professional accountant. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. J&S Accounting does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. J&S Accounting does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.