- Make sure that all your expenses and incomes have been properly entered and categorized, preferably with photos of your expenses.
- Upload and reconcile all your bank statements (optional – but your accountant will thank you) Income & Expense -> Reconciliation ->Reconcile
- Enter any mileage claims for traveling expenses Income & Expense -> Expenses -> Enter Mileage
- Make adjustments to the Cash accounts Income & Expense -> Reconciliation -> List Cash Transactions to bring everyone’s cash balances to zero
- Generate and download the Excel Workbook Manage -> Reports -> Accounting Reports -> Year End XLSX and send it to your accountant.
If you have not reconciled your bank statements, your accountant might want to see your actual bank statements and your receipts so that she can reconcile them. This is especially true if you have a corporation, but may also happen if you are a sole proprietor. Better by far to do the reconciliations month by month. See also The Stree-Free way to Reconcile your Accounts
To see a sample of the year-end workbook, click here