Accounting Software Year End Check List

Each year end there are certain “housekeeping” tasks that should be performed. Here’s a useful a checklist to help with your accounting software year end tasks.

  • Check your data (most products have a “health check” option), resolving any issues.
  • Ensure all sales and purchase invoices have been processed (are there any outstanding sales or purchase orders?).
  • Investigate and clear any suspense or misposting account balances.
  • Nominal ledger – review, check for any obvious errors/inconsistencies and correct where necessary.
  • Reconcile all bank, credit card, loan and petty cash accounts.
  • Review year end outstanding bank and cash transactions resolving any issues.
  • Agree aged debtors and creditors reports to your trial balance (discrepancies can arise in some accounting products).
  • Print all required reports (e.g. trial balance, nominal report, aged debtors, aged creditors and bank transactions).
  • Take a back-up of your data.
  • If possible, block further postings to this year’s data.

Following these steps will help ensure you have tied off the year end ready for your accountants. Chiene + Tait work with several desk top and cloud accounting products including Xero, KashFlow, QuickBooks Online, FreeAgent, Sage 50 Accounts, Sage Instant Accounts, QuickBooks and others. Should you require assistance, please do not hesitate to contact us at