Printable checklist

Year-End Financial Closing

Use this checklist as a general preparation aid. The documents and procedures required for a particular matter may differ.

1. Freeze a closing calendar with account owners and review dates.
2. Complete bank, receivable, payable and statutory reconciliations.
3. Review cut-off for sales, purchases, expenses, inventory and services.
4. Obtain balance confirmations where appropriate and investigate differences.
5. Evaluate provisions, accruals, contingencies and subsequent events.
6. Review fixed assets, capitalisation, impairment and depreciation records.
7. Reconcile payroll, TDS, GST, PF, ESI and other statutory balances.
8. Prepare schedules supporting each material balance and movement.
9. Document management review and approval of closing entries.