This is not a complete list but here are a few things that the accountants usually want to see. If you can do a lot of the calculations yourself, you save money at the accountants.
- a list and reconciliation of any prepaid deposits and expenses including insurance and municipal taxes.
- bank reconciliation(s)
- copies of any invoices relating to capital purchases (asset purchases)
- calculation of accrued wages - i.e. year-end is Oct 31 but payroll date for wages earned up to that time is Nov 6th - those wages should be accrued as an expense back into the Oct 31 year-end
- calculation of accrued expense - i.e.- hydro bill dated Nov 10 but relates to service up to Oct 31 should be accrued as a Oct 31 2008 expense or a portion thereof if service 'bridges' the fiscal end date.
- any copies of federal and provincial notice of assessments; latest statement of account from these agencies
- lists of Accounts Payable and Accounts Receivable
- explanation of any unusual expenses
All of these items can be worked on and entered into Simply after the database has been rolled into the new fiscal year.
