How to Make Your Bookkeeping Ready Now for the Last Quarter of 2026
As the midpoint of Quarter 3 approaches, this is an excellent time for business owners to review their books before the year-end rush begins. This review can help you identify what is working, address small issues before they become larger concerns, and feel more prepared for the final months of the year.
Remember, you do not have to fix everything at once or have perfectly organized books and Piece of Mind Bookkeeping can help!
Keep reading to learn about the 10 bookkeeping priorities you need to review now.
Bookkeeping Review: 10 Priorities
Reconcile all bank and credit card accounts. If your accounts have fallen behind, you are not alone! Even catching up one month at a time can create meaningful progress. Start by reconciling your bank and credit card accounts to get a clearer picture of where your business stands.
Review your profit and loss statement. Compare income and expenses with earlier months and against your budget. Look for:
• Unexpected increases.
• Declining revenue; or
• Expenses that may need your attention.
Monthly reviews can also uncover duplicate charges, missed invoices, unusual expenses, or accounting errors before they become unnecessarily costly.
Check accounts receivable. Review your outstanding or overdue invoices and follow up to improve cash flow and help you feel more in control.
Review accounts payable. Confirm that vendor bills are entered correctly and that upcoming payments are planned to prevent late fees and unexpected cash shortages.
Evaluate cash flow. Keep in mind, a business can show a profit while still experiencing cash-flow challenges. Know exactly what money is coming in, what's going out, and whether enough cash is available for upcoming expenses, including hiring, pricing, purchases, expansion, and more.
Review payroll and contractor records. Verify employee information, payroll totals, contractor payments, and expense classifications for easier year-end reporting and tax preparation.
Check estimated tax payments. Review year-to-date profit with your tax professional to determine whether your estimated tax payments are still appropriate since business income can change significantly during the year.
Organize receipts and supporting documents. Make sure receipts are attached to transactions or stored in an organized system. This creates cleaner records and makes tax preparation less stressful.
Review your budget and financial goals. Compare your actual results with your plans or projections for this year. If your revenue or expenses differ from expectations, adjust your projections for the remaining months.
Prepare for Quarter 4. Start forecasting and planning for the following:
• Holiday expenses.
• Seasonal slowdowns.
• Inventory needs.
• Equipment purchases.
• Potential bonuses.
• Other year-end commitments.
Bottom Line: You're Not Alone!
You do not have to wait until year-end or try to manage every financial detail alone. Taking time to review your bookkeeping now can provide clarity, help make tax preparation faster, easier, and less stressful, and also give you more confidence as you move into the final quarter of the year.
Do your books feel overwhelming? At Piece of Mind Bookkeeping, we believe financial information should help you make informed decisions, not leave you feeling confused or judged. We are here to help, not judge, so reach out to us today!.
Need help with your mid-quarter review or something else?
Let us help organize your books, reduce your stress, and the fear of
the unknown with our experienced bookkeeping and financial management services.
About the Author
Steven Thompson
Founder, Piece of Mind Bookkeeping
Steven brings over a decade of experience in bookkeeping, tax preparation, and financial advisory services. He specializes in helping small businesses (particularly in the pet services and veterinary space) simplify finances so they can grow with confidence.
When he’s not balancing budgets, Steven explores his adopted country of Brazil, plays with his dogs, or works on personal development, such as learning yoga.
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