A tidy year-end saves time at audit and Corporate Tax filing.
Reconcile everything
Match bank, card, receivable and payable balances to statements.
Accrue and prepay
Book accruals for unpaid expenses and prepayments for costs that span periods.
Stock and fixed assets
Count inventory and update the fixed asset register and depreciation.
Payroll and gratuity
Confirm end-of-service provisions are up to date.
Review VAT
Reconcile VAT control accounts to returns filed.
Key takeaways
- Start closing in the last month of the year
- Use a checklist
Need help applying this to your business? Our specialists can review your situation and give a clear, fixed-fee plan.