Is Your Bookkeeping Tax-Ready? Year-End Checklist

Use this checklist to ensure your books are organized and ready for tax season. The more boxes you can check, the smoother your tax preparation will be! Click each item as you complete it to track your progress and confirm your total at the end of the checklist.

Bank & Credit Card Reconciliation

All bank accounts reconciled through December 31st

All credit card accounts reconciled through December 31st

Any discrepancies investigated and resolved

Bank and credit card statements saved and organized

Income Documentation

All invoices issued in the tax year are recorded

All payments received are properly categorized

Outstanding invoices/accounts receivable are documented

1099-K or merchant processor statements match your records

Any cash or alternative payment income is recorded

Expense Tracking

All business expenses are recorded and categorized correctly

Personal expenses are separated from business expenses

Receipt images or documentation saved for all major expenses

Mileage log completed (if claiming vehicle expenses)

Home office expenses calculated (if applicable)

Payroll & Contractor Payments

All employee payroll records are complete and accurate

Payroll taxes have been deposited on time

List of contractors paid $600+ prepared for 1099-NEC filing

Contractor W-9 forms collected

Owner's draw vs. salary properly documented

Asset & Inventory Management

Major equipment purchases recorded with purchase dates and costs

Inventory counted and valued (if applicable)

Asset disposal or sales documented

Depreciation schedules reviewed

Loan & Debt Documentation

Loan payments properly split between principal and interest

Year-end loan balance statements obtained

Business credit card interest separated and documented

Sales Tax & Other Obligations

Sales tax collected and remitted (if applicable)

Sales tax returns filed for all periods

Quarterly estimated tax payments documented

Any other regulatory fees or licenses recorded

Financial Reports Ready

Profit & Loss statement prepared for the full year

Balance sheet prepared as of December 31st

Reports reviewed for obvious errors or unusual items

Comparative reports to previous year reviewed (if applicable)

Documentation & Organization

Digital or physical filing system organized by category

All important documents backed up securely

Access information for accountant/tax preparer prepared

Notes on any unusual transactions or one-time events documented

How Did You Do?

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Check off items above to see your score!

Score Interpretation:

Checked 30+ items? Great work! Your books are in excellent shape for tax time.

Checked 20-29 items? You're on the right track, but a few gaps could cost you at tax time.

Checked fewer than 20 items? Your books may need significant work before tax preparation. Consider getting professional help to avoid costly mistakes or missed deductions.

Need Help Getting Tax-Ready?

If this checklist feels overwhelming or you're behind on several items, professional bookkeeping services can help you get organized quickly and ensure you're maximizing deductions while staying compliant.

Schedule a Free Consultation

Email: [email protected] | Phone: (337) 780-7192