Quarterly Check-In: What Rochester Business Owners Should Review Before Q2 Ends

As the second quarter of 2025 comes to a close, small business owners across Rochester, NY have a valuable opportunity to assess their financial health and adjust course where needed. Conducting a smart quarterly check-in not only helps you avoid surprises later in the year — it can also uncover opportunities to improve cash flow, reduce tax liability, and set more effective goals for Q3 and beyond.

At Nacca & Capizzi, we work with Rochester and Greece, NY business owners year-round to stay organized, compliant, and financially strong. Here’s a practical guide to what you should review as Q2 wraps up — and how we can help.

1. Review Your Year-to-Date Financial Statements

Start by pulling your most recent financial reports, including:

• Profit & Loss Statement
• Balance Sheet
• Cash Flow Statement

Review these reports for accuracy and trends. Are revenues aligned with projections? Are expenses growing unexpectedly? Has your cash position improved or worsened?

Our accounting and assurance services help ensure your records are clean and your reports reliable — giving you real insight into your business performance.

2. Check in on Your Estimated Tax Payments

For many businesses, estimated taxes are due quarterly. Missing payments or underpaying can lead to unnecessary penalties. As Q2 ends, ensure your estimated tax payments are accurate based on year-to-date earnings.

If your business income has changed, it may be time to adjust your approach. We assist clients with calculating and submitting estimated tax payments to help stay on track.

3. Evaluate Budget vs. Actual Spending

Compare your year-to-date actual expenses to your original budget. Which categories are over or under budget — and why? Is your current spending sustainable for the second half of the year?

Our consulting services help business owners develop and refine budgets that support long-term growth without unnecessary waste.

4. Assess Outstanding Invoices and A/R

Late payments and overdue invoices can choke cash flow. Before Q2 ends, assess your accounts receivable and follow up on outstanding balances. Consider implementing more structured payment terms if needed.

Want help improving your invoicing and collections process? Our team can review your financial systems and provide practical guidance.

5. Reevaluate Payroll and Staffing Needs

Heading into the summer months, many industries experience staffing shifts. Review your current payroll reports and assess whether staffing levels align with demand and profitability.

We offer payroll support through our broader business services offerings and can help you avoid common compliance issues.

6. Back Up Your Books and Organize Digital Records

A quarterly review is also a great time to back up your QuickBooks file, organize your expense receipts, and ensure your financial records are audit-ready. Consider creating a digital archive by scanning and storing physical receipts and contracts.

Need QuickBooks help? Our certified QuickBooks ProAdvisors are available to clean up your file and offer one-on-one training or monthly support.

7. Schedule a Mid-Year Planning Meeting

The end of Q2 is the ideal time to connect with your CPA for a deeper look at tax-saving strategies, growth planning, and any upcoming changes to your business structure or operations.

Our team is here to help you use this checkpoint to your advantage. Whether it’s reviewing depreciation schedules, planning major purchases, or reevaluating tax strategies, we bring clarity and experience to the process.

Let’s Wrap Up Q2 the Right Way

Smart business owners use quarterly check-ins as a tool for progress — not pressure. At Nacca & Capizzi, we’re proud to help Rochester-area businesses close the quarter with confidence and set the stage for long-term success.

Schedule your Q2 planning session now or call us at (585) 225-9290 to learn how we can support your goals for 2025 and beyond.

Disclaimer: This article provides general financial guidance and is not a substitute for professional advice. For advice specific to your business, please contact Nacca & Capizzi directly.