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Your pre-Christmas shutdown checklist

The last few weeks before Christmas always go faster than you think, so a little planning now means you can properly switch off over the break, and come back in January without a pile of catch-up waiting for you. And if summer is your busiest time of year, the same list will help you stay on top of things while everyone else is on holiday.

Here’s what to get done before the break.

 

1. Get your invoices out before you finish up

Send invoices for all your completed work before you close the doors, rather than leaving them for January. If a job runs over the break, it may be worth invoicing for the work done so far.

Why this matters: Your customers will be on leave too. An invoice sent on 23 December might not be looked at until mid-January, which can leave you short on cash right when you need it.

2. Chase what you’re owed now

Run your aged receivables report and follow up anything overdue over the next few weeks, while people are still at their desks.

Why this matters: Once offices close, the money stops coming in, but wages, super and other bills don’t stop. Getting paid before the break gives you a buffer to get through January.

3. Know SA’s Christmas public holidays

South Australia’s holidays look a little different from the rest of the country. This year they are:

  • Thursday 24 December: Christmas Eve (7pm to midnight)
  • Friday 25 December: Christmas Day
  • Saturday 26 December: Proclamation Day
  • Monday 28 December: additional public holiday, because Proclamation Day falls on a Saturday
  • Thursday 31 December: New Year’s Eve (7pm to midnight)
  • Friday 1 January: New Year’s Day

Why this matters: The 7pm part-day holidays catch a lot of businesses out. Anyone working from 7pm on Christmas Eve or New Year’s Eve is entitled to public holiday rates, so one evening shift can be paid at two different rates.

    4. Get your books up to date

    Before you finish up, reconcile your bank accounts in Xero, upload any receipts still sitting in your inbox or glovebox, and clear out unreconciled transactions.

    Why this matters: Coming back to weeks of unreconciled transactions is no way to start the year. Up-to-date books also mean your numbers are ready for the BAS, or for a planning chat in the new year.

    Not shutting down?

    For cellar doors, wineries, farms and tourism businesses, summer is often the busiest time of year. The same checklist still applies, it just looks a little different.

    Plan your rosters around the public holiday dates and rates, set aside time each week to keep your books up to date, and keep an eye on cash flow. A busy summer doesn’t always mean more money in the bank once wages and stock are paid for.

    Get ready for the break

    Get planning now so you can enjoy Christmas without worrying about what’s waiting for you in January. If you’d like a hand working through any of these, I’m here to help.

    rebecca@kaleidoscopeaccounting.com.au | 0417 859 700

    Sources: SafeWork SA

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