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Year-end bookkeeping checklist
Stage 1 · Six weeks before year-end
Close the gaps
Reconcile every bank and card account through the latest statement Chase missing documents — invoices, receipts, loan and lease statements Review accounts receivable: remind overdue customers; flag genuinely uncollectible invoices for your accountant Review accounts payable: confirm what you owe, to whom, and when Recode any personal spending out of the business accounts Empty the “Miscellaneous” and uncategorized buckets — every entry gets a real category
Stage 2 · People
Payroll & contractors
Verify employee and contractor details — legal names, addresses, tax IDs Reconcile payroll reports to the ledger Total contractor payments for information returns (e.g. 1099s in the US) Record year-end bonuses and any accrued leave or commissions
Stage 3 · What you own and owe
Assets, inventory & loans
Count inventory (if you carry it) and adjust the books to the physical count List fixed-asset additions and disposals for your accountant's depreciation schedule Reconcile loan balances to lender statements Split loan payments into principal and interest in the ledger
Stage 4 · The picture
Reports & review
Run the year-end profit & loss, balance sheet and cash summary Compare against last year and investigate any large swings Review aged receivables and payables reports Review owner draws, contributions and equity entries with your accountant Confirm the retained-earnings roll-forward matches last year's closing figure
Stage 5 · Handoff
Tax preparation
Package source documents by month and category Send your accountant the reconciled ledger, bank statements, payroll summaries, asset list and prior-year return Answer their open questions in writing, so the file is self-explanatory Book the tax conversation early — good accountants fill up fast Put the filing deadlines for your jurisdiction on the calendar
Stage 6 · Reset
Set up next year
Archive this year's document folder; open the new year/month structure Prune unused categories from the chart of accounts Set a monthly close date you'll actually keep Decide who does the books next year — you, a hire, or an agent with a human review
Or skip the checklist entirely
Kai runs stages 1–4 continuously, all year — reconciled monthly, human-reviewed, in your platform or one we manage. Year-end becomes a formality.
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