Getting your books ready for year-end doesn’t have to be a beast. Here’s a simple checklist to help you walk through the steps. For a more detailed step-by-step walkthrough, see: A Step-By-Step Guide To Preparing Your Law Firm’s Books For Year End.
- Reconcile Operating Accounts
- Reconcile Trust Accounts
- Confirm Year-End Bank Statement Balance Matches Year-End Books Balance for All Operating Accounts
- Confirm Year-End Bank Statement Balance Matches Year-End Books Balance for All Trust Accounts
- Determine 1099 Recipients & Obtain W-9s
- Run Depreciation
- Clear Stale A/R transactions
- Clear Stale A/P transactions
- Clear Unreconciled Operating Transactions
- Clear Unreconciled Trust Transactions (& Ensure Those Unreconciled Trust Transactions Aren’t A Sign Of A Trust Mistake)
- Review P&L For Mistakes & Aberrations
- Review Balance Sheets For Mistakes & Aberrations