End of Financial Year Checklist for Your Bookkeeper


With the end of the financial year approaching, it’s now time to gather all of your financial documents and send them over to your bookkeeper.  In case you are new to small business finances, here is our quick checklist of everything you should have prepared to make your bookkeeper’s job easier.


Organise Your Files

Be sure to gather all your relevant receipts for the deductions you plan to claim and also check over your personal and business bank statements for any business expenses you may have paid out-of-pocket, along with personal expenses you may have used your business account for.


Reconcile Bank Accounts

Ensure you have verified all your transactions for this financial year, so your ledger matches your bank statement.



Make sure you have invoiced your customers for all of the work you have done or products you have sold this year.  If your invoices are not up to date, be sure to catch up with them.



If any customers owe you money, ensure you collect this cash.  We recommend sending past due statements and giving them a call to ensure you receive all of your money before the end of the year.



Reconcile your payroll wages for the year and also prepare your payroll tax reconciliation for June.  In this step, you want to be sure that your payroll tax liabilities are the same as your quarterly payroll tax returns.



Reconcile your accounts payable and bills in dispute and ensure you have accounted for all spend for the financial year.



This includes reviewing your profit and loss statements along with any loan payments you may have made during the financial year.  Also, review any assets you purchased or sold during the year and compile them into your end of year journal.


Each business will be different but these are the basic guidelines that apply to most companies.  If you are in need of bookkeeping services, we’re here to help!  ABJ Business Solutions provides the best bookkeeping services available for small and medium-sized businesses.