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. Documents can be emailed to mail@gtimmons.com or sent to us via our secure client portal service.
Companies using QuickBooks
- 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)
- 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)
- If using QuickBooks Desktop: Data file (after setting the closing date – see below)
- Start QuickBooks with the user name ‘admin’ and password]
- From the top menu bar select Company > Set Closing Date > Set Date/Password
- Change the Closing Date to the year end date we are working on
- 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 reconciliation for the final month)
- 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