The Year-End Bookkeeping Checklist for Small Businesses

Finish the year reconciled

• Reconcile all 12 months of every bank, credit card, and loan account.
• Clear uncategorized transactions — don't carry them into the new year.
• Match all customer payments to invoices and close out the receivables list.
• Write off invoices you know are truly uncollectible.

Get your records in one place

• Attach or file receipts for the year's expenses.
• Confirm vendor W-9s are on file for anyone who may need a 1099.
• Record year-end adjustments: depreciation, loan interest, owner draws.
• Save PDF copies of your year-end Profit & Loss and Balance Sheet.

Review the year honestly

• Compare the year's Profit & Loss against last year and against your budget.
• Look at your expense categories — are costs landing where you expected?
• Review your chart of accounts: merge redundant accounts, retire unused ones.
• Note cash flow trends to carry into next year's planning.

Hand off to your tax professional

• Send your reconciled year-end reports to your tax professional early.
• Give them a summary of anything unusual — big purchases, new loans, one-time events.
• Ask what else they need before the filing deadline so nothing arrives last-minute.

Behind by more than a few months?

If the year got away from you, a cleanup and catch-up project gets the records current before you hand anything off. And for the month-to-month rhythm that keeps year-end easy, see the monthly bookkeeping checklist and the full daily-to-quarterly checklist.