The end of the year is on the horizon. You can help your team and your clients prepare for all those last minute tasks in QuickBooks by using this Year-end checklist.
Visit Accountant Tools
- You can accomplish everything from reclassifying transactions, complete unfinished reconciliations, or run your trial balance in preparation for filing tax returns in Accountant Tools.
- When you feel comfortable closing out the year, you can also Close the books and prevent unwanted changes before filing your taxes.
Write off uncollectable debts
- Do any of your clients have uncollectable debts during the current period? You can write off invoices deemed uncollectable to take care of any bad debt prior to year-end.
- If you need to write off the invoice in a closed period, learn how to write off bad debt for older entries.
Set up default date ranges on reports
- Save time by setting up default date ranges on your reports so every time you open a report, it will open to the correct year-end date range.
- Remember, Report and Tool defaults also affects other tools such as Reclassify Transactions.
Correct miscategorized transactions
- Save time by using the Reclassify Transactions tool to batch correct account or class assignment errors for multiple transactions at once.
Prep for year-end payroll tasks
- It's never too early to encourage your clients to get a head start on payroll. The tasks laid out in this guide will help you close out 2018 successfully and help them prepare for 2019.
Complete unfinished reconciliations
- Do any of your clients have unfinished reconciliations that need attention? Help them fix any reconciliation discrepancies or even undo past reconciliations on their behalf as needed.
Make account balance adjustments
- Do any of your clients’ account balances need minor adjustments? It's a good idea to run an Adjusted Trial Balance Report to make sure all debits and credits equal out.
Use Prep for taxes
- Now that all your adjustments have been entered, use the Prep for taxes feature to make sure you're ready to complete your client's tax return.
File your taxes
- Kick off your clients' tax returns from the Clients Tab and connect to ProConnect to complete the return.