We have entered the month of December which means, soon we will welcome the new year! Now, for MSME players, this moment in December is also an important opportunity to collect stock data, conduct financial evaluations, and tidy up all business-related documents.

 

At the end of the year, MSMEs are getting busier?

 

It is undeniable, running an MSME can make you busy. But behind that, you should be grateful because it means, your MSME business is in great demand. Now, in the midst of the many things you have to do, from replying to messages from partners, customers, or preparing the latest products, you can miss important things in your business.

 

Some examples of things you can miss are cash flow, business adjustments to new regulations, goals you will achieve in the future, and risks you must anticipate on your business. So that you can prepare these things effectively, be sure to make the following 8 preparations by the end of the year!

 

1. Create a timeline of work to be done

 

As previously explained, conducting a business evaluation at the end of the year does make you have to do a lot of work. Therefore, make your to-do list and determine the processing time. In addition, be sure to also collect proof of payment and sales reports. So, in order to access sales reports practically, you can use Cashlez which provides cashless payment features and Cashlez Reporting which records all transactions!

 

2. Record all expenses

 

Make sure you have data about the expenses you make. In addition, you can also sort the evidence of these expenses according to time, for example from the beginning of the year to the end of the year. Keep in mind that to prepare business data, you don’t have to wait until the end of December, but start collecting them one by one.

[Also read: Selling Through the Pre Order System? Here’s How To Be More Effective!]

 

3. Evaluate how your MSME performance is

 

Of course, business evaluation is one of the most important things that MSME actors must do before welcoming the new year. The reason is, this will help you to prepare business strategies in the future. Fortunately, through the profit and loss features available in Cashlez Premium, you can easily see what your sales performance is like. In addition, you can also find out what products are most sought after by customers.

 

4. Make sure the staff data is updated

 

Do a re-check on the data of the staff you employ. This is important because it will help you to ensure that the budget for staff salaries is in accordance with the amount you spend. In addition, you must also consistently monitor all expenses by matching the proof of expenditure with the number of expenses recorded throughout 2021.

[Also read: [You Must Know] 7 Promotion Strategies Towards the End of the Year]

 

5. Keep all sales data in a safe place

 

All files related to your business, whether in the form of invoices, proof of payment, reports, and so on, must be stored neatly in a place that is easy for you to find, both in the form of physical files and those stored in online media. That way, you will have no trouble finding the file if it is needed at any time in urgent conditions.

 

6. Monitor your business regularly

 

In the past, maybe all sales reports had to be created manually so you would need more time to prepare them. However, now every transaction made by a customer can be recorded automatically and you can monitor it anytime and anywhere through the sales dashboard, namely Cashlez Reporting. So, you can focus on managing your business without the hassle of making sales reports.

 

7. Check data and prepare backup data

 

Data related to your business, both offline and online, must be backed up. This is important to anticipate if something unexpected happens that will make you lose access to the data. Well, in Cashlez Reporting itself, your sales data must be downloaded every 4 months!

 

8. Set your goals for next year

 

In addition to being a moment to evaluate and analyze the MSMEs that you run, the end of this year can also be the right opportunity to prepare what goals you want to achieve at the beginning of the year. Therefore, you also need to understand what your business prospects will look like next year and what changes you need to make later.

 

Basically, every moment is an important opportunity for MSME actors to develop their business. But at the end of the year, you do need extra efforts so you can evaluate and prepare your business for the new year!

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