Use LedgerHQ
Year-end handoff
Get the books to a state a CPA can file from, then send one package.
Get the books to a state a CPA can file from, then send one package.
Tax prep is a handoff, not a report download. If monthly reviews happened, this is short. If they did not, this is the catch-up.
What The CPA Actually Needs
- Every ordinary transaction for the year is coded and posted
- Transfers and card payments are matched
- Owner-paid business spend is on the books
- Banks and cards reconcile to statements
- Open requests and Ask Client are resolved or explained
- Fiscal-year closing and any later corrections have an agreed owner
Walk The Year In This Order
- Confirm every bank and card synced or imported through year-end.
- Clear leftover uncoded rows for the full year, not just last month.
- Book leftover specials: loans, payroll, owner draws, fixed assets.
- Reconcile each account through December 31.
- Read the annual P&L and Balance Sheet for anything that does not make sense.
- Export the reports and collect statements, payroll reports, and notes in Files.
- Agree how fiscal-year closing and later corrections will be handled. Closed fiscal years protect their entries; ordinary date-based period locks are retired. See Period review and fiscal-year protection.
Do not leave mysteries uncategorized
If you do not know a row, add a memo and a Client Request. An unexplained Ask Client balance is still better than a missing expense.
What To Send
- Profit and Loss
- Balance Sheet
- Trial Balance or General Ledger
- Statements, payroll reports, and notes
See Reports for exports.
Checklist
- Feeds cover Jan 1 through Dec 31
- Specials are booked
- Recs are finished
- Reports were read
- Package is in Files
- Fiscal-year closing and correction responsibilities are clear