How to use

Follow these steps

1. 1

   Bank reconciliations complete

   All bank, credit card, and merchant account statements reconciled to the trial balance at the year-end date. Identify and clear any old reconciling items.

2. 2

   Sales and purchase ledgers tidied

   Aged debtors and creditors lists reviewed: write off bad debts, raise credit notes for disputed items, clear unallocated payments.

3. 3

   Stock count documented

   Physical stock count at or near year-end, with valuations agreed (cost or NRV, whichever is lower).

4. 4

   Fixed asset register reviewed

   Additions in the year captured (with VAT and any installation costs), disposals removed (with profit/loss calculated), depreciation policy applied.

5. 5

   Accruals and prepayments calculated

   Year-end accruals for utility, professional fees, and other costs incurred but not yet invoiced. Prepayments for insurance, software, rent paid in advance.

6. 6

   Director''s Loan Account schedule

   Monthly DLA movements showing salary, dividends, expenses repaid, drawings, and resulting balance. Flag any month where it went into beneficial-loan territory (>£10,000).

7. 7

   Dividend documentation in order

   Board minutes and dividend vouchers for every dividend declared in the year. Distributable reserves checked at each declaration date.

8. 8

   Capital allowances review

   Asset additions classified for capital allowances purposes — AIA, Full Expensing, special rate pool. Capital vs revenue analysis on borderline items.

9. 9

   Hand over to accountant

   Trial balance plus the above analytical schedules, fixed asset register, bank statements, and any contracts or correspondence relevant to year-end balances.