Mid-Year Bookkeeping Tips for the Home Service Industry

Andrew Gonzales
4 days ago
2 min read

What to Review Now—and When to Call a Professional

Keywords: bookkeeping for home service business, mid-year bookkeeping checklist, small business accounting, home service financial tips, when to hire a bookkeeper

If you’re running a home service business—like plumbing, HVAC, landscaping, or electrical work—you’ve already got a lot on your plate. Between managing crews, scheduling jobs, and keeping customers happy, bookkeeping might be the last thing you want to deal with.

But taking time mid-year to review your finances can save you major headaches down the line.

Here’s a quick bookkeeping checklist for home service professionals—and how to know when it’s time to bring in a pro.

✅ 1. Reconcile All Accounts

Make sure your bank accounts, credit cards, and loans are reconciled through the end of June. Even small mismatches can create big problems come tax season. Reconciliation keeps your books accurate—and gives you real confidence in your numbers.

📈 2. Review Your Profit & Loss Statement

This is your financial report card. Look closely at:

Income – Are you hitting your revenue goals?
Expenses – Have material or labor costs changed?
Net Profit – Are you charging enough to remain profitable?

Understanding your profit margins mid-year can help you adjust pricing or expenses before the busy season hits.

💼 3. Follow Up on Unpaid Invoices

In service businesses, cash flow is king. Run an Accounts Receivable aging report to:

See who still owes you money
Follow up on past-due invoices
Address problem customers before things escalate

Getting paid faster helps your business run smoother.

📅 4. Revisit Your Estimated Tax Payments

Has your income changed since last year? If so, your quarterly estimated taxes might need to change too. Overpaying hurts your cash flow—underpaying can lead to penalties. Mid-year is the perfect time to check in and adjust.

🔍 5. Audit Subscriptions and Overhead

Are you still paying for old software or services you don’t use? Review all subscriptions and recurring charges. Trim the fat to free up cash and increase your profit margin.

🚨 When It’s Time to Call a Bookkeeping Professional

DIY bookkeeping works for a while, but there are clear signs when it’s time to call in help:

You’re consistently behind on your books
You’re unsure what your real profits are
You’ve started hiring employees or contractors
You’re getting ready for tax season or applying for a loan

A professional bookkeeper can help you streamline systems, stay compliant, and keep your business financially healthy year-round.

📞 Let’s Book Your Mid-Year Checkup

We specialize in bookkeeping for home service businesses, and we know your industry. Whether you’re growing fast, just getting started, or tired of dealing with receipts and reports, we can help.

👉 Schedule your free consultation today!

Let’s make sure the second half of your year is your strongest yet.