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BUSINESS FINANCIAL YEAR END PREP LIST


As the year comes to a rapid end, it’s important to be ready for the closing of your financial year. This is also a good time to review your year to date activities and profitability. It’s also a good time to plan for the future. Knowing what financial position you’re in at this time is crucial for planning ahead. You may have plans to increase salaries, buy new equipment, or plan to increase rates. Several steps have to be taken before you can make these changes.


Your trusted bookkeeper will need these items in order to perform the year-end process.


  1. Bank and Credit Card Information: online sign in credentials

  2. Statements: Bank, Credit Card, Loan, Line of Credit

  3. Invoice Lists and POS monthly reports

  4. Previous Tax Return

  5. Sales Tax Returns

  6. List of Uncleared Funds

  7. Fixed Asset lists: any furniture, equipment, vehicles bought during the year

  8. Run a list of all customers with balances

  9. Run a list of all vendors with balances

  10. Gather all Form W-9 from Subcontractors: Request for Taxpayer identification number


Now is the time to reach out to your Accountant, Bookkeeper, and Tax Consultant to prepare for year-end review and planning.


You can reach out to Plus 1 Bookkeeping to assist you with organizing your financial data. Here’s a link to make an appointment:



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