The financial year has ended, so it’s time to gather your records for your accountant. If you’re organised, this can be a simple task. But for some, it might feel overwhelming, especially after a tough year. If it feels daunting, tackle it quickly and treat yourself to a little reward once it’s done.
Reality check: Your accountant likely already knows how your business has been doing this year, especially if you’ve been in touch regularly. Don’t worry, they’re not going to judge you for how well-organized your records are. Accountants may love crunching numbers, and we get that it’s not everyone’s favourite task. So, let’s dive in and get it done!
Copies of the bank statements/credit cards/loans showing the balance as at the 31st March xx
Debtors Balances as at financial year end – review your list of debtors as at the year end and check if they are still collectible or if they need to be written off as a bad debt.
Creditor Balances as at financial year end
Stock on Hand / Work in Progress – dispose of any obsolete stock prior to your stock take. Ensure that you complete your stock take as soon as you can after year end.
Provide copies of the following invoices:
- Insurance invoices
- Rates
- Legal fees
- Assets over $1,000
Copies of any loans/lease agreements showing balance outstanding as at 31 March xx or any new loans taken out during the year
Details of Fixed Assets sold during the year, including date sold and amount.
Home Office – advise us if your Home Office size has changed during the year. Details of home office costs claimable e.g. Insurance (house & contents, interest (house mortgage), rates, rent paid, repairs & maintenance, power, home landline & internet.
Copy of dividend certificates, Investment Portfolio Tax reports
Crypto/Bitcoin income summary reports
Overseas income including taxes paid and country received from
