Follow the evidence. Keep the questions visible.
Source recordsStatements, receipts and invoices.
Reconciled balancesConnect the records to the books.
Open questionsName an owner and next action.
Totalis resources / November 1, 2026
Year-end preparation works better as a sequence of small, evidence-based checks than a rush to make every balance look finished. Start with the records, separate resolved items from questions, and give each remaining task an owner.
1. Establish the full picture
List every business bank account, credit card, loan and payment platform, including accounts closed during the year. Gather available statements through the latest completed month. Identify business costs paid personally and business-paid items that may be personal; keep the evidence and ask how they should be recorded rather than guessing.
2. Reconcile before interpreting
Compare accounting balances with bank, card and loan statements. Match platform sales, fees, refunds and payouts without counting the same income twice. A bank-feed category is not proof that a transaction is correct. Keep a separate list of missing records, unclear transfers and reconciliation differences.
3. Look beyond cash movement
Review unpaid customer invoices, vendor bills, payroll balances, inventory information and equipment purchases as applicable. Distinguish principal from interest on debt payments. Ask the preparer which adjustments are needed for your accounting method; do not assume every payment is a current expense or every deposit is revenue.
4. Build a clean handoff
Organize receipts and invoices so the reviewer can connect a transaction to its purpose and support. The IRS explains that records should show income and expenses, and supporting expense documents should identify key transaction details. Keep contractor information and payment-method records together for information-return review. [1][2]
5. Make the next decision visible
Share a concise open-items list with the person responsible for the close or tax return. Discuss purchases, retirement contributions and other planning questions before taking action. Tax outcomes depend on the facts and applicable rules; spending money solely to create a deduction is not the same as improving cash flow.
Your working checklist
List every bank, card, loan and payment-platform account.
Gather statements and reconcile each account through the latest available period.
Match receipts and invoices; document missing evidence.
Review unpaid invoices, bills, payroll balances and owner-paid items.
Gather contractor details and payment-method records for review.
Assign an owner and next action to every unresolved item.
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Sources and scope
General preparation guidance, not individualized tax or legal advice. Services and responsibilities are defined in the engagement. Do not submit sensitive records through a public inquiry form.
