A Year-End Records Checklist for Small Businesses
The end of the year goes more smoothly when records are in order before it arrives. This checklist is general; your own accountant can tell you what applies to your business.
Bank and card accounts
- Confirm every business bank and credit card account is reconciled through the most recent statement.
- Look for transactions you cannot identify, and ask about them now rather than later.
- Keep copies of final statements for each account.
Income
- Make sure every invoice you issued is recorded, whether paid or not.
- List amounts customers still owe you and how old they are.
- Gather any year-end income forms you receive from customers or payment providers.
Expenses
- Collect receipts and records for purchases that are still on paper or in email.
- Separate personal spending from business spending, and note anything that is mixed.
- Keep documents for large purchases such as equipment or vehicles.
People
- Confirm names, addresses and tax details for employees and contractors you paid.
- Check that payroll records agree with your books.
Questions to bring
Write down anything you are unsure about, such as a large purchase, a change in how you operate or a plan for next year. A short list makes the meeting more useful.
If you would like help getting your records ready, see our bookkeeping service or get in touch.