Year End Accounting Checklist for Business Owners 

With 31 March fast approaching use Q2’s Year End Accounting Checklist to ensure the next financial year launches smoothly and your goals are achieved:

Management & Leadership

  • Strategic plan in writing for next 12 months?
  • Organisational structure with reporting lines and accountabilities defined?
  • Job descriptions and KPIs in place for all team members?
  • Performance and/or salary reviews completed?
  • Marketing plan?

Finance, Accounting & Tax

  • Financial and cashflow forecasts prepared for next 12 months?
  • Pricing (and costings) reviewed / updated?
  • Payroll ready for Pay Day filing?
  • All 2018 tax returns filed with IRD?
  • 2019 provisional tax due 7 May 2019 reviewed?
  • 2019 financial / tax end of year prep done?
    • Bad debts written off accounts receivable
    • Prepay expenses so can claim a tax deduction
    • Stock on hand valued and obsolete stock written off
    • Minimise end of year Work In Progress (WIP)
    • Review fixed assets for items to be scrapped for tax purposes
    • Quantify holiday pay owing at 31 March 2019 (if paid by 2 June claim a tax deduction)

31 March is the ideal time to transition your accounting software to a more suitable or convenient platform.

If you need help with any of the above contact Q2 Ltd.  Helping business owners run better businesses is what we do.

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