- Enter all transactions incurred for year.
- Reconcile bank accounts (ensure all transactions are cleared, reconciled, or voided if duplicate/incorrect).
- Review Account Receivable Aging Report and send statements to customers with open balances.
- Review open balances on Accounts Payable Aging Report.
- Review contractors paid and file 1099’s as necessary.
- Create Profit & Loss Report and Balance Sheet Report.
- Review Financial Reports in number 6 and reallocate any incorrect or missing transactions.
- Send reports to CPA for review and schedule a consultation with them.
The end of a fiscal year can be stressful, however by following the above steps, you should be on the right track to have a successful close to your year.