Year-End Checklist

This checklist is comprehensive and information that may be needed to prepare a year-end. Some of these items may not apply to you.

Year-End Preparation Check List:

  • Back up copy of your bookkeeping file or an invitation to your cloud-based software.
  • Last Year’s Trial Balance and Adjusting Entries from your Accountant or Previous Bookkeeper
  • All Company Bank, Credit Card and Investment Statements for the entire year and the month following your Year-End.
  • Paperwork pertaining to all lines of credits and loan statements for the entire year and for the month following your Year-End.
  • All correspondence from CRA regarding GST, Payroll Remittances and Corporate Tax Installments including all assessment letters
  • Receipts or bills for any capital asset purchases or repairs made during the year (Anything with a purchase price over $500.00)
  • Records for any assets sold during the year including the Sales Agreement and original purchase documents (if still available)
  • Any receipts for business purchases made using funds from personal bank accounts or credit cards
  • A list of home office expenses including Rent, Condominium Fees, Utilities, Security System,
  • Repairs & Maintenance, Insurance, Property Taxes, and Mortgage Interest.
  • Inventory Counts
  • Original Contracts/ Documents for any loans, leases, Insurance policies or Lines of credit entered into during the year.
  • Statements for any Loans, Leases, Insurance Policies or Lines of Credit for the year and the following month.
  • A listing of any Accounts Receivables outstanding at the end of the year with comments regarding doubtful Accounts.
  • A list of any outstanding Accounts Payable
  • Any information regarding any government grants or financial assistance received from the government
  • Any payroll information including PD7As, T4 and T4 Summaries