Year-End Readiness: A Minimal Checklist

Year-end doesn’t have to be a scramble. By handling a few small habits each month, you ensure tax season arrives calm, predictable, and CPA-ready.

1) Reconcile monthly without fail

Each month, verify your bank and credit card accounts match your statements. Consistent reconciliations catch errors early and prevent last-minute chaos.

2) Review income and expense categorization

Make sure transactions are coded properly as they come in. A 5-minute monthly check avoids rework and ensures tax deductions aren’t missed.

3) Clear out “Undeposited Funds”

Don’t let undeposited funds linger. Match customer payments to actual bank deposits monthly so your income isn’t overstated.

4) Verify vendor bills and customer invoices

Check open bills and invoices for accuracy. Old balances often mean duplicates, forgotten credits, or payments not recorded correctly.

5) Confirm payroll and tax liabilities

Compare QuickBooks payroll and sales tax balances against what was filed. Catching discrepancies monthly protects you from year-end surprises.

6) Track loans and asset balances

Update principal, interest, and depreciation monthly if applicable. This keeps your balance sheet accurate for lenders, investors, and tax prep.

7) Keep digital records organized

Save receipts, invoices, and tax correspondence in clearly labeled folders. Organized records mean faster responses to your CPA and fewer headaches later.

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