Your End-of-Year Reporting Checklist (From Your Bookkeeper’s Point of View)

Atlas Team
Nov 6
3 min read

It’s that time of year again...the home stretch. As we approach year-end, it’s the perfect time to take a few key steps to make next year’s tax filing a whole lot easier (and far less stressful).

Below is a checklist of what to review now, before the holidays and the new year rush hit. A little effort today can save hours of frustration later.

1. Reconcile All Bank and Credit Card Accounts

This is step one for a reason.Make sure every bank, credit card, loan, and PayPal account is fully reconciled through the end of the year.

Not sure if something’s missing? Look for uncleared transactions, mismatched balances, or anything that just doesn’t look right.If something doesn’t line up, flag it now...before your CPA does.

2. Review Income and Expenses

Pull up your profit and loss report and give it a quick scan. Do the numbers make sense? Are any transactions in the wrong category?

Your reports are only as accurate as your data, so double-check now to avoid headaches later.

Common things to watch for:

Subscriptions categorized as office supplies
Owner purchases mixed in with business expenses
Big lump-sum entries labeled “miscellaneous” ( major red flag)

If something looks off, take a moment to re-code or research it now.

3. Payroll & Contractors/Consultants

Verify that all employee payments are recorded correctly in your payroll system.

Prepare any bonuses or final paychecks that need to hit this year’s W-2s.(Remember: W-2s are based on the payment date, not when the work was done.)
For contractors paid $600+, make sure you have a completed W-9 on file so 1099-NECs can be issued on time.If you’re missing any W-9s, start reaching out now.

4. Inventory Check (If You Sell Products)

If you carry stock, now’s the time for a quick inventory count.

This helps confirm your cost of goods sold (COGS) is accurate and your financials are solid.It’s also a great opportunity to identify what’s selling well, and what’s been sitting too long.

5. Gather Receipts and Supporting Documents

This one’s everyone’s least favorite, but future you will be grateful.

Make sure receipts are uploaded, organized, and attached to the right transactions. Digital copies are perfectly fine, just make sure they’re accessible if your accountant or the IRS asks for them.

6. Mileage and Home Office Deductions

If you use your car or home for business, don’t skip these deductions...they add up!

Make sure you’ve tracked:

Business miles driven (apps like MileIQ make it easy)
Home office square footage (if applicable)

Even small deductions can make a noticeable difference at tax time.

7. Final Touches: Retained Earnings and Owner Draws

Take a moment to review your equity section.

Are owner draws and contributions categorized correctly?
Did last year’s adjusting entries get posted?
Do retained earnings in your accounting software match your last tax return?

Catching discrepancies now can save hours of digging later.

Bonus Tip: Back Up Your Data

Whether you’re using QuickBooks, Xero, or another system, make a backup. Ideally in the cloud and on a physical drive.

Technology fails. Don’t let your data be the casualty.

Ready for Year-End?

Yes, this list may feel like a lot, but a few hours of prep now can make next tax season smooth and stress-free.

If you need help tackling any of these steps, my team and I are here to help.Book a quick session, and we’ll knock it out together.

Let’s head into the new year clean, clear, and confident.