Mid-Year, Full Picture: Get Ahead Before H2 Lands
It’s June. Is your business where you thought it’d be?
For most founders and directors, the start of the year is a blur of optimism, forecasts, and resolutions. But six months in, it’s a different story: you’re deep in day-to-day operations, managing suppliers, clients, and cash flow, with June suddenly sneaking up on you.
That’s exactly why a mid-year review matters.
A mid-year review is your chance to come up for air and find the answer to the important question: “How are we really doing?” Not based on gut feel or wishful thinking, but based on actual numbers.
We’re talking income statements, cash flow, outstanding receivables, supplier payments, compliance status - the full picture. It’s about checking where your finances stand now versus where you expected them to be. You’re not just reviewing the past six months, you’re uncovering opportunities to maximise the rest of the year.
Waiting until year-end to take stock might be too late.
December is often a mad scramble with chasing overdue invoices, plugging compliance gaps, or wondering how the Q3 budget vanished so fast. A mid-year review buys you time; time to fix what’s not working and double down on what is.
Start by consolidating the numbers: Prepare your profit and loss, balance sheet, and cash flow statements. Look at what’s changed since January. Are sales growing? Have expenses snowballed? Are your margins holding steady?
Then, compare your budget to your actuals. Where are you off-target? Don’t just spot the variances, dig into the reasons behind them. Was it a strategic choice, an unexpected one-off, or sign of a deeper issue?
From there, take a hard look at compliance. Are your payroll filings, tax obligations, and company secretarial matters up-to-date? The last thing you want is to discover an oversight just before the IRAS deadline.
It’s also worth reviewing your operations. What’s running smoothly? What’s causing delays? Where could your team be spending less time, or making more impact?
And once the review’s done, act on it. Too often, insights end up buried in a spreadsheet. But this is your chance to reset budgets, revise targets, renegotiate vendor terms, or streamline recurring costs.
Accela Finance helps founders and directors across Singapore turn mid-year reviews into meaningful action. Whether you need support with bookkeeping, compliance, or simply making sense of the numbers, we’re here for you.
If you want to turn reflection into progress, reach out to us at [email protected]