Your Essential Year-End Accounting Checklist (And Why a Monthly Bookkeeper + CPA Combo Makes It Effortless)
I know you’re probably feeling that familiar knot in your stomach as December winds down. Year-end accounting can feel overwhelming, especially when you’re juggling everything else that comes with running a business.
But here’s the thing – it doesn’t have to be a nightmare. When you work with a monthly bookkeeper who partners seamlessly with your CPA, year-end becomes just another smooth transition instead of a frantic scramble.
Let me walk you through exactly what needs to happen during year-end closing, and show you how we can make this process effortless for you.
The Essential Year-End Accounting Checklist
Bank and Account Reconciliations
This is where we always start – and trust me, it’s the foundation that makes everything else possible. We reconcile every single bank account, credit card, and financial account to make sure your books match reality perfectly.
When we handle your monthly bookkeeping, these reconciliations are already current. That means no surprises, no missing transactions, and no staying up late trying to figure out where that mysterious $247 went in March.
1099 Contractor Review and Processing
Here’s one that catches a lot of business owners off guard. If you paid any contractor $600 or more during the year, you need to issue them a 1099-NEC form.
We handle this entire process for you:
- Review all contractor payments for the year
- Verify you have current W-9 forms on file
- Prepare and print all required 1099 forms
- Mail 1099s to contractors by January 31st
- File copies with the IRS
No stress, no scrambling for addresses, no worrying about deadlines. We’ve got you covered.
Payroll Compliance and Year-End Review
Payroll year-end is its own beast, but when we’re handling your payroll bookkeeping services throughout the year, we’re already tracking everything properly.
Here’s what we review and prepare:
- W-2 forms for all employees
- Payroll tax reconciliation for federal, state, and local taxes
- Unemployment tax filings (FUTA and SUTA)
- Year-end payroll registers and summaries
- Retirement plan contribution reporting
We make sure every employee gets their W-2 by January 31st, and all your payroll tax filings are submitted on time.
Accounts Receivable and Payable Cleanup
We go through your customer accounts to identify any overdue invoices that need collection efforts or write-offs. On the flip side, we review what you owe to make sure all legitimate business expenses are recorded before year-end.
This isn’t just about accuracy – it’s about maximizing your tax deductions and getting a clear picture of your cash flow heading into the new year.
Fixed Assets and Depreciation
Any equipment, vehicles, or other assets you purchased during the year need proper depreciation calculations. We work with your CPA to make sure you’re taking advantage of bonus depreciation opportunities and Section 179 deductions where appropriate.
Expense Review and Tax Preparation
We categorize every expense properly and make sure you’re capturing all legitimate business deductions. Business meals, travel, office supplies, professional development – everything gets properly documented and categorized.
How AKOR Services Makes Year-End Effortless
When you work with us for monthly bookkeeping, year-end becomes a review process instead of a reconstruction project.
Here’s how we set you up for success all year long:
Monthly Reconciliation Keeps You Current
We reconcile your accounts every single month, so there are no surprises at year-end. Your books are accurate and up-to-date, which means we can focus on strategic planning instead of detective work.
Ongoing Contractor and Payroll Management
We track contractor payments and maintain W-9 forms throughout the year. When December rolls around, we already know exactly who needs 1099s and have all their information ready to go.
Our payroll bookkeeping services ensure every paycheck is processed correctly and all taxes are calculated and deposited properly. No year-end payroll disasters.
Clean, Organized Reporting
Every month, you get clean financial statements that your CPA can work with immediately. No reformatting, no guessing what transactions mean, no starting from scratch.
We organize everything in a way that makes tax preparation efficient and audit-ready if needed.
The Power of the Monthly Bookkeeper + CPA Combination
Here’s where the magic really happens. When your monthly bookkeeper (that’s us) works hand-in-hand with your CPA, you get the best of both worlds.
We Handle the Day-to-Day, They Handle Strategy
We take care of all the routine transaction recording, reconciliations, and compliance tasks. This frees up your CPA to focus on tax planning, business strategy, and making sure you’re positioned for success.
Seamless Communication
We work directly with your CPA throughout the year, not just at tax time. When they need information for quarterly tax planning or have questions about transactions, we’re right there with answers.
No Duplicate Work
Because we maintain your books properly all year long, your CPA doesn’t have to spend time (that you’re paying for) cleaning up messes or recreating financial records. They can jump straight into analysis and tax preparation.
If you want to dive deeper into how this partnership works, I wrote a detailed guide on how to integrate your monthly bookkeeper with your CPA that explains exactly how we coordinate with your tax professional for maximum efficiency.
What This Means for Your Business
When you have professional monthly bookkeeping in place, year-end transforms from a stressful ordeal into a smooth business process.
You Save Time and Money
No more paying rush fees to get your taxes done at the last minute. No more paying your CPA to sort through shoeboxes of receipts. No more all-nighters trying to balance your books.
You Get Better Financial Information
Clean, accurate books give you the information you need to make smart business decisions all year long. You’ll know your true profitability, cash flow position, and financial trends.
You Reduce Stress
There’s something incredibly peaceful about knowing your books are handled properly. You can focus on growing your business instead of worrying about compliance issues or missing deadlines.
Getting Started Is Simple
I know you might be thinking this sounds expensive or complicated. It’s not. We tailor our bookkeeping services based on exactly what your business needs – nothing more, nothing less.
Some businesses need full-service monthly bookkeeping including payroll. Others just need transaction recording and reconciliation. We work with you to find the right fit for your budget and requirements.
Your privacy and security are our top priorities. We never share your financial information without your explicit approval, and we use bank-level security for all data handling.
The best part? You can start anytime. Even if we’re beginning in the middle of the year, we can get your books caught up and current quickly.
Ready to Make Next Year Different?
Let’s start with a simple phone conversation about your specific needs. We can walk through what’s currently causing you the most stress with your bookkeeping and show you exactly how we can help.
We’re here Monday through Friday, ready to answer your questions and help you move forward with confidence. No pressure, no complicated contracts – just honest conversation about how we can support your business.
Because at the end of the day, you started your business to do what you love, not to spend your evenings wrestling with accounting software. Let us handle the books so you can focus on what matters most – growing your business and serving your customers.
