Year-End Bookkeeping Checklist for Entrepreneurs

The end of the year is crunch time for entrepreneurs, especially when it comes to bookkeeping. Staying organized now saves time, money, and stress during tax season.

Here’s a checklist to guide you through year-end bookkeeping:

1. Reconcile All Accounts

Match your bank, credit card, and PayPal statements with your books to ensure accuracy.

2. Review Income & Expenses

Categorize transactions properly to maximize deductions and avoid red flags with the IRS.

3. Update Payroll & Contractor Records

Confirm that W-2 and 1099 information is accurate so forms are ready in January.

4. Check Accounts Receivable & Payable

Follow up on unpaid invoices and clear outstanding bills.

5. Back Up Your Records

Store digital copies of receipts and documents securely for compliance and peace of mind.

6. Meet with Your Accountant

A quick check-in now can help you plan year-end tax strategies, like Section 179 purchases or retirement contributions.

Need help organizing your business finances? Be Well & Co. offers bookkeeping support and CFO-level insights to keep your business running smoothly. Let’s connect before year-end.

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This reminder is provided for educational purposes only and does not constitute financial, legal, or tax advice. Please consult with a qualified professional about your specific situation.

Written by Courtney A. Mallow, IRS-Registered Tax Preparer, Certified Fraud Examiner (CFE), Certified Personal Financial Wellness Consultant℠, and Founder of Be Well & Co. Financial Consulting. Courtney helps self-employed individuals, people living abroad, and global professionals align their money with their values.