Year End

Also known as "closing the books," year-end closing is the process of reviewing, reconciling, and verifying that all financial transactions and aspects of the company ledgers from the past fiscal year add up. This involves calculating the business expenses, income, revenue, assets, investments, equity, and more.

The goal is to prepare a final financial statement for potential external audit, to be stored within the company’s official financial records.

We work very closely with Accountants to check carefully for discrepancies between company spend and budgets, namely accounts payable and accounts receivable. If any are found, they must reach out to the employees involved for missing information or documentation to resolve the discrepancies and adjust the financial ledger accordingly.

As there can be serious legal liabilities involved, preparing an accurate balance sheet, profit and loss statement, and cash flow statement are some of the most important processes for finance and accounting teams to get right.

We will come up with a special customized Year- End list to make sure nothing is missed.

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