A New Year Financial Checklist for CPG Companies

Why January Matters for CPG Finance Teams 

For CPG Brands, the start of the year is much more than a reset. It’s when financial discipline, compliance, and planning come together and set the tone for the rest of the year. Inventory complexity, multi-state sales, and investor scrutiny make this a critical moment to get the basics right.  

EisnerAmper has created a practical guide to closing the prior year and setting the foundation for a strong new year. Use the following checklist to set your organization up for success:   

1. Close the Prior Year Cleanly 

• Accrue for material outstanding invoices, including legal, advisory, and agency costs 
• Review accounts receivable and establish reserves for uncollectible balances 
• Complete a physical inventory count 
  •   Identify expired, obsolete, or slow-moving inventory 
  •   Record appropriate inventory reserves 
• Prepare year-end financial reporting for banks and/or investors, including covenant calculations 

2. Keep Track of Required Compliance Deadlines 

• Prepare and file required 1099s for contractors (Due January 31st) 
• File annual state franchise taxes (e.g., Delaware) 
• Review sales tax nexus and confirm all required filings are current

3. Get Tax-Ready Early

• Prepare clean, organized books for your tax accountant 
• Confirm CPA availability and filing timelines 
• Determine whether a tax filing extension is necessary 
• Evaluate eligibility for R&D tax credits   

4. Prepare for the Year Ahead 

• Finalize the annual operating budget 
• Review insurance coverage to ensure limits align with current revenue, inventory levels, and distribution footprint 
• Confirm bank covenant requirements and reporting expectations 

5. Keep Common Pain Points in Mind During Your Review  

1. Inventory accounting and reserve accuracy 
2. Multi-state sales tax compliance 
3. Timely, lender-ready financial reporting 
4. Coordination between accounting, tax, and operations 

Build a Strong Financial Foundation for the Year Ahead  

By approaching January with structure, rigor, clarity, and discipline, CPG companies can take what is typically a hectic period and turn it into a strategic advantage. Each of these items, from closing the prior year cleanly to financial planning for the year ahead, ensures that your organization establishes the financial integrity and organizational alignment required for long-term growth. With the relevant expertise, tools, and partners along the way, CPG companies can build a foundation of accuracy and process that empowers smarter decisions year-round.  

At EisnerAmper, our trusted team has decades of experience helping companies better understand their financial health and opportunities for future strategic growth and profit. Learn how we can help you by contacting us below.