2010 Year End Checklist

December 16, 2010 at 6:59 pm Leave a comment

It’s that time of year again and your business needs to be in order, so 2011 will keep on running smoothly. Also, if your books in order, then you just might save a bit on your CPA bill come tax time. We have compiled a checklist for you as we follow the same checklist for our clients.

Happy New Year!

  • Reconcile all bank, credit card and other accounts
  • Record depreciation on fixed assets
  • Do a physical inventory count and make any year-end inventory adjustments
  • Record disbursements to partners or sole proprietors and clear owner’s draw
  • Clear accrued, pre-paid liabilities and expenses
  • Make sure all 1099 vendor’s tax ID numbers are entered
  • Have employees verify that social security number and address information are correct
  • Process year end forms such as W-2/W-3, 1099/1096,941,940, Florida Unemployment
  • Print reports such as:  Balance Sheet, Profit and Loss, General Ledger, Trial Balance, Transaction Reports
  • Have employees review their W-4 information for 2011
    Safeguard your data with passwords and backups

If you don’t have time to do this, give us a call at 904.786.0800


Entry filed under: 1099, Bookkeeping. Tags: , , , , , , , , , , , , , , , , .

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