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Year-end Checklist

This is a general checklist of the information that we will need to prepare a year-end financial statement. You can request a specific checklist for your company from us.

Companies using QuickBooks or Simply Accounting

• Data file (after setting the closing date – see below)
• Bank statement—final month
• Accounts receivable—list of customers and amounts owing (if not in data file)
• Accounts payable—list of vendors, amounts owing and expense category (if not in data file)
• Accrued liabilities—list of amounts owing but invoice not yet received

• GST returns filed for the year
• Ontario PST returns filed for the year
• Quebec Sales Tax (TVQ) returns filed for the year
• Corporate tax—last year’s notices of assessment (federal and provincial)
• Corporate tax—statements showing amounts paid during the year (federal & provincial)
• Payroll—most recent source deduction statement of account
• Employer Health Tax (EHT) return & statement of account

• Workplace Safety returns & statement of account
• Investments—all brokers statements and transactions slips for the year
• Investments—all T-slips any yearly summaries
• Inventory—item description, quantity on hand, purchase cost, total value
• Loans—balances at year end (loan statement or call for balance)
• Vehicle km or expenses and % business use for the year
• Office in home expenses (complete office in home sheet)

Setting the QuickBooks closing date:

1. Set the closing date as follows: Start QuickBooks with the user name 'admin' and password [the closing date prevents changes to transactions for a completed fiscal year].
2. From the top menu bar select Company > Setup Users
3. Select 'Closing Date' and change the Closing Date to your current year end date
4. Click OK

Setting the Simply Accounting closing date:

1. Set the closing date as follows: Start Simply
2. From the top menu bar select Setup > System Settings > Settings > System
3. Change the 'Do not allow transactions dated before' to your current year end date
4. Click OK

Companies with manual records
To process the year-end return of a company with manual records, we also require:

• A record of all invoices prepared during the year
• A record of all deposits made during the year (with customer/invoice #)
• A record of all cheques written during the year (with expense categories or supporting documents)
• All bank statements (and reconciliations if available)
• Accounts receivable—list of customers and amounts owing
• Accounts payable—list of vendors, amounts owing and expense category
• Accrued liabilities—list of amounts owing but invoice not yet received
• Payroll records

Review & Audit Engagements Only
Please complete and return these year-end questions:
In Word format
In PDF format