It's a Team's Life

End of Year Processes

End of Year Processes

As we near the end of another calendar year there are certain things that we try to do in order to close out the fiscal year of our business. What processes to you have in place to close out the year? Do you schedule maintenance appointments for your equipment so that you are ready to go in the new year? Do you try to work as much as possible to bring up your year end revenue? Or do you go home to get ready for the busy holiday season?

In the past, we have set aside time to take our truck in for an overhead as well as other general maintenance. This year has been a rather slow year for us. Because of this we have decided to wait until we reach one of the trucks milestones before we take it in. This also gives us time to try to improve our annual revenue.

I also make sure that all bills are paid before the end of the year. This ensures that we can write off the expenses in the current calendar year. I do this in our business as well as in our personal life. If there are any major purchases that we have been needing or wanting to make that can help our tax situation, we do it now. 

Of course I make sure that all of my spreadsheets are in order so that I can analyze the numbers. I compare revenue and expenses to years past. How did we do? Like so many others it was a challenging year for us. How did you do this year? Do you know? What changes will you make in the new year? As stated in my last blog we have decided that we need to work more days in the new year. I also want to be ready to hand the numbers over to the accountant as soon as possible so that I can close out the current year and focus on the new year.

Do you set goals each year? We really do not set goals. I have listened to so many audiobooks that suggest that goal setters are more successful than those that do not set goals. Neither of us has ever gotten into setting goals. As hard as we try, we just have to accept that we are the type that fly by the seat of our pants. I am sure that we could be more successful if we set goals. But honestly, we have more than we could have ever imagined and feel so blessed with where we are in life. For us, that is enough.

Wishing you millions of safe and profitable miles.

Kelly Plumb