Accounting Real Life Tasks - Year-End Accounting Close Checklist (free template)

Join 10,000+ professionals who enrolled in the Controller Academy 🚀 https://controller-academy.com/courses/controller-academy Get your copy of the checklist: https://thefincontroller.com/p/year-end-checklist I am a CPA in the United States and I summarized the steps to close out the financial year from an Accounting standpoint. Videos mentioned during this tutorial: Bank Reconciliation: https://youtu.be/mjnA4kidiAc Record Payroll JE: https://youtu.be/mbVYoXWyK7E Vacation Accrual JE: https://youtu.be/QVZY0Ca7ukA Revenue Recognition ASC 606: https://youtu.be/uZ6Le4Kgh74 Stock Options JE: https://youtu.be/N2zLcIQkfpo Allowance for Doubtful Accounts JE: https://youtu.be/hzZscWFuK5w Balance Sheet Reconciliation: https://youtu.be/rXavkEg4Ht0 How To Analyze The Financial Statements: https://youtu.be/2iG_BIlB0Lo Time Stamps: 00:00 Intro 00:50 Agenda 01:10 Overview of the checklist 03:34 1. Billing & AR 06:21 2. Accounts Payable 08:21 3. Cash & Credit Cards 09:54 4. Employee Expenses 10:55 5. Payroll 14:19 6. Revenue Accruals 16:16 7. Inventory Accruals 19:30 8. Fixed Assets 22:33 9. Other Accruals 26:34 10. Account Reconciliations 28:22 11. Flux Analysis 28:56 12. Discuss results with management 29:52 13. Close the year in the system ----------------------------------- Hang Out with me on social media: 📸 https://www.instagram.com/the_financial_controller/ 📱https://www.tiktok.com/@thefinancialcontroller https://www.linkedin.com/in/bill-hanna-cpa-7653a851/ DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week! All views expressed on my channel are mine alone. Not intended as financial or professional advice