It's coming.  The end of the calendar year will be here before you know it.  For many companies it will also be the end of their fiscal accounting year.  Being prepared leads to a non-stressful year-end closing. This checklist is the basis for being prepared.  If you have been doing these things all year, you will be ready.  If you haven't, you need to immediately start preparing your books for the year-end close.

The first step is to read the year-end closing documents on the End-of-month/Year > How to reference files menu.  These documents contain complete information on preparation and closing procedures. Each module also has a suggested procedures document on its "How to reference files" menu.

These are just reminders of the things that need to be done.  Full details can be found in the 'Pre-End of Year Procedures" document on the End-of-month/Year > How to reference files menu.

Accounts Payable   Clean up vouchers and voucher distribution
     Balance A/P sub ledger to General Ledger A/P account
     Reconcile checking bank statements to G/L
     Confirm 1099 information for vendors

Accounts Receivable   Clean up unapplied payments and open credit invoices
     Charge off bad debts
     Balance A/R sub ledger to General Ledger A/R account
     Clean up customer job accounts

General Ledger    Balance sub ledgers to their corresponding G/L accounts
     Confirm balances of accounts with outside schedules, such
     as depreciation and note amortization schedules
     Reconcile bank statements to G/L accounts

Inventory    Clean up inventory transfers
     Conduct a physical inventory count
     Balance the Inventory sub ledger to the General Ledger

Payroll     Confirm payroll tax liabilities for the year
     Confirm YTD earnings and deductions for employees
     Add fringe benefit income for appropriate employees
     Update employee records with current information

Point-Of-Sale    Clean up sales orders
     Review unexpired quotes and estimates

Purchasing    Clean up open purchase orders and backorders
     Complete the receiving Procedures before conducting the
     inventory count