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 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)
  • 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:
[the closing date prevents changes to transactions for a completed fiscal year]

  • Set the closing date as follows: 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

Setting the Simply Accounting closing date:

  • Set the closing date as follows: Start Simply
  • From the top menu bar select Setup > System Settings > Settings > System
  • Change the ‘Do not allow transactions dated before’ to your current year end date
  • 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