The end of the year will be here before we know it. 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 uncollectible 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 2019 successfully and help them prepare for 2020.
- Select the payroll product your client uses to see the appropriate payroll year-end checklist.
- Year-end checklist for QuickBooks Online Payroll Enhanced
- Year-end checklist for QuickBooks Online Payroll
- Year-end checklist for Intuit Online Payroll Full Service
- Year-end checklist for Intuit Online Payroll Enhanced
- Year-end checklist for QuickBooks Payroll Desktop Assisted
- Year-end checklist for QuickBooks Desktop Payroll
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.