Bookkeeping End of Year Checklist

  1.       Reconcile Your Bank Account.
  2.       Catch Up On all Invoices.
  3.       Record Missed Transactions. –  Search your pockets for receipts
  4.       Double Check  – Make sure all of your income and expenses have been properly categorized.
  5.      Don’t Forget Mileage. – Have you recorded all the time  in your car? Your daily commute doesn’t count.
  6.      Be sure you’ve paid enough in estimated taxes for the year.
  7.      Check your Income Statement. Compared to prior years?
  8.      Don’t forget to reverse any uncashed or stale cheques!
  9.      Record any year end accrual entries 
  10.      Check Accounts Receivable and Accounts Payable for accuracy
  11.      Bad debt write offs, if any (and hopefully there aren’t!)
  12.      Prepare A Budget for Next Year.

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