infosheet Year end checklist
Sole-traders		      Return to menu
     
   What you
need to do		    Some two months before your financial year end, it is always a good idea to liaise with us to confirm what specific accounting records we will need in order to prepare your financial statements.

There now follows a list of day books and year-end schedules that either you, or we as your accountants, will normally produce as part of your accounting records.

Where it is possible that we may be producing the records ourselves, we have left the You produce and We produce columns blank.

Please let us know if you are having difficulty in preparing the records we have indicated that you are responsible for producing.
   Year end
checklist		   
Item
Always
required
You
produce
We
produce
Sales Day Book, supported by printed copies of all sales invoices.
Yes
 
 
Purchase Day Book, supported by copies of the suppliers' invoices, suitably cross-referenced.
Yes
 
 
Detailed Sales Ledger, or a list of sales invoices remaining unpaid at the end of the accounting period.
Yes
Yes
 
Detailed Purchase Ledger, or a list of suppliers' invoices remaining unpaid at the end of the accounting period.
Yes
Yes
 
Reconciled bank and cash books.
Yes
 
 
A complete set of bank statements for all accounts operated during the accounting period. Including building society accounts.
Yes
Yes
 
Access to all relevant bank account paying-in books, and cheque stubs.
Yes
Yes
 
Copies of all business operated credit card statements. Each month's statement to have attached all relevant suppliers' invoices and receipts for the expenditure incurred during the period.
Yes
Yes
 
Stock count and valuation schedules at the period end date (if material).
Yes
Yes
 
If the business is VAT registered, supply copies of all VAT100 returns made during the period, plus the supporting work schedules that show how the return was calculated and compiled.
Yes
 
 
Full payroll records, and copies of any annual returns made during the accounting period.
Yes
Yes
 
Detailed records of all P11D notifiable amounts paid to staff by way of reimbursed expenses (expense forms) or benefits-in-kind. (Remember if you have a current dispensation from the Inland Revenue so that you do not have to disclose certain expenditure on P11D annual returns, you are still required to keep accurate and complete records).
Yes
Yes
 
Detailed daily journey records for any staff member supplied with a vehicle purchased and paid for by the business, or for staff members who may be claiming a mileage allowance for use of their private car on behalf of your business.
Yes
Yes
 
Detailed daily journey records of all business trips undertaken by yourself if you intend to charge against the business profits, the cost of running your own car(s).
Yes
Yes
 
Details of any legal actions, trade or employment disputes pending or initiated against the business during the accounting period, or since.
Yes
Yes
 
A year-end finalised trial balance, supported by a detailed nominal ledger.
Yes
 
Yes
Financial Statements for the accounting period.
Yes
 
Yes
Copies of the Partnership self Assessment form, together with the tax computation, and supporting schedules (including capital allowances computation).
Yes
 
Yes
Details of any major fixed asset acquisitions and/or disposals during the accounting period.
Yes
Yes
 
Details of any loans, finance or Hire Purchase lease agreements entered into during the accounting period.
Yes
Yes