Make your fiscal year-end checklist with AgExpert Accounting

It’s the time of year for making lists and checking them twice. As you get ready for your financial year-end, AgExpert Accounting makes it easier to close the past year and plan for the year ahead.

Follow this 7-step checklist: 

1. Start by compiling the source documents you’ll need:
   
   • copy of all year-end bank and credit card statements
   • year-end payable statements
   • year-end loan statements
   • capital asset purchases and sales receipts
   • all sales tickets
   • any other documents that verify year-end balances (equity statements, AgriInvest statements, etc.)
2. Confirm all financial activities for the year are entered in AgExpert Accounting. To ensure all your invoices and receipts are accounted for, reconcile with the year-end statements.
   
   Reconcile:
   
   • all bank accounts (including credit cards)
   • accounts receivable 
   • accounts payable
   • loan balances
     
3. Review your inventory accounts and adjust the quantity and value as needed. 
4. Review payroll records. 
5. Process the final GST/HST return and PST (if applicable). 
6. Generate your Trial Balance to review account totals. Verify balances for accuracy.  
7. Review your purchases and sales for the year, making sure to include any deferred sales. 

With AgExpert Accounting, sharing your file with your accountant at year-end is a breeze. Use the Sharing feature and get your year-end review process underway.