Legal Accounting End of Year Checklist (USA)

Modified on Mon, 3 Nov at 4:06 PM

Here is a helpful list to help you keep track of your fiscal year end tasks:

Invoice all clients through the end of your fiscal year.
Run the Receivables report with Balances as of End D. Collect as needed
Run the Payables report as of Payment up to Date with the same end date as your fiscal year. Pay any outstanding payables.
Reconcile all bank accounts.
Run the financial reports for the fiscal year. Review for accuracy. If necessary, submit to your accountant.
Review your 1099 listing and produce the necessary 1099 forms.
Close all fiscal months with the exception of the last month of your fiscal year.
Enter any GL adjustments as reported by your accountant. Date them the last day of your fiscal year.
Enter the budgets for the new fiscal year.
Close out the last month of your fiscal year, toggle on close fiscal period.