Here is a list of areas you need to consider in preparation for year end. All totals should be as of 12/31. Additional information may be required.
1. Inventory balance
2. List of vehicles/equipment/etc that you have on hand with documentation of anything you purchased and sold throughout the year
a. Information needed for any transaction includes date, amount sold/paid for, any trade in values, loan amounts, cash down, etc.
3. Loan Balances
4. Credit Card Balances
5. Interest paid for prior year
6. List of any subcontractors that need to be given a 1099 for prior year (greater than $600 paid for services in the prior calendar year)
7. Year end and quarter end filings
8. Bank statements for bank reconciliations to be completed through year end
9. Other information as requested
This is not an all-inclusive list, but a great starting point.
