Year-End Bookkeeping Checklist for Small Businesses

Year-end bookkeeping is the process of reviewing, reconciling, and finalizing your business’s financial records before closing the accounting year and preparing your tax return.

Even if you’ve kept up with bookkeeping throughout the year, year-end is an important opportunity to make sure your accounts are accurate, outstanding transactions are recorded, and your financial statements reflect what actually happened during the year.

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Monthly bookkeeping for Cleveland small businesses starts at $350, flat, with a CPA doing the work.

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What Should Be Included in a Year-End Bookkeeping Checklist?

At year-end, businesses should reconcile bank and credit card accounts, review accounts receivable and payable, verify payroll records, update inventory and fixed assets, review loans and liabilities, record necessary adjustments, and prepare final financial statements. Completing these steps helps ensure your books are accurate and ready for tax preparation.