Year-End Closing: 10 Items Not to Forget

Year-End Closing: 10 Items Not to Forget.

Year-end closing is essential to ensure accurate financial statements, anticipate tax obligations, and support internal management.
Some items — despite being straightforward — are easily overlooked throughout the year.

Here is the complete guide to securing your closing.

1. Accrued expenses

Goods or services received but not invoiced.
Documents: supplier statements, contracts.

2. Unbilled revenue

Work completed before year-end but not invoiced.
Documents: list of unbilled services.

3. Provisions

Bonuses, risks, audits, litigation, FX exposure.
Documents: calculations, contracts.

4. Inventory & valuation

Physical count, variance explanations, cost updates.
Documents: signed inventory, valuation method.

5. Bank reconciliations

Bank accounts, credit cards, foreign currency accounts.
Documents: statements, reconciliations.

6. Supplier balances

Statements, disputes, unused credit notes.
Documents: confirmations, correspondence.

7. Payroll adjustments

Bonuses, social charges, unused holidays, certificates.
Documents: payroll reports, approvals.

8. Depreciation & fixed assets

New assets, leasing adjustments, amortisation updates.
Documents: invoices, asset register.

9. Shareholder loans

Interest calculation, repayment tracking, confirmations.
Documents: loan agreements, calculations.

10. Supporting documentation

For accounting firms or auditors.
Documents: reconciliations, contracts, payment proofs, schedules.