What's on a year-end accounting checklist?
Reconcile every bank and credit card account, chase and record outstanding invoices, settle or record what you owe, check your payroll and CPF are complete, review your fixed assets, and confirm your books match your records. Once that's done, your financial statements can be prepared cleanly.
In short: reconcile, tidy receivables and payables, confirm payroll, then close.
The year-end checklist
| Step | What to do |
|---|---|
| 1 Bank reconciliation | Match every account to your statements |
| 2 Accounts receivable | Chase and record all unpaid invoices |
| 3 Accounts payable | Record everything you still owe |
| 4 Payroll & CPF | Confirm all salaries, CPF and IR8A are complete |
| 5 Fixed assets | Review and update the asset register |
| 6 Final review | Confirm books tie out, ready for statements |
When should you start year-end accounting?
Start before year-end, not after. If your books are reconciled monthly, year-end is mostly a final review. If they're behind, give yourself several weeks to catch up so your statements and your tax agent's filing aren't rushed.
Who handles what at year-end?
We handle the accounting: reconciling, closing the books and preparing your unaudited financial statements. Your licensed Singapore tax agent files your GST and corporate tax using those statements, and an ACRA public accountant audits only if your company isn't exempt. Clean books make all of it faster.
See how we prepare your financial statements.