What is year-end bookkeeping?
Year-end bookkeeping is the process of reviewing and organizing a business’s financial records before closing out the year. It often includes reconciliations, transaction review, payroll review, contractor records, financial reports, and QuickBooks cleanup.
What should I review before year-end?
Small businesses should review bank accounts, credit cards, income, expenses, payroll, contractor payments, accounts receivable, accounts payable, loans, owner activity, and year-end financial reports.
Should I reconcile all accounts before year-end?
Yes. Business bank and credit card accounts should generally be reconciled so your bookkeeping records match the underlying statements.
Should I clean up QuickBooks before tax season?
Yes. If QuickBooks contains unreconciled accounts, duplicate transactions, incorrect categories, or old errors, cleanup can help produce cleaner financial records.
How does year-end bookkeeping help with 1099 filing?
Organized bookkeeping helps identify contractor payments, review vendor records, verify W-9 information, and prepare totals for 1099 reporting where applicable.
Can Simon Bookkeeping work with my tax professional?
Yes. Simon Bookkeeping can help organize your books and financial reports so your accountant or tax professional has cleaner records to work with.
Do you offer year-end bookkeeping outside Bergen County?
Yes. Simon Bookkeeping serves Bergen County and North Jersey businesses while also providing secure remote bookkeeping support nationwide.
