---
title: Year-End Close Check List
description: Audits go more smoothly when the prep starts early — so our audit team put together a year-end close checklist to take the guesswork out of getting ready. It lays out the accounts, schedules, and documents that come into play at year-end, all in one place. If we handle your audit, it's a handy roadmap for the weeks ahead.
---

[blog](https://scottandco.com/blog)

# [Year-End Close Check List](https://scottandco.com/blog/financial-year-end-close-check-list)

 Written by [Scott and Company](https://scottandco.com/blog/author/scott-company) | Jun 16, 2026 6:15:37 PM

**By: Dave Bodiford - Supervisor, Assurance & Advisory - Scott and Company LLC**

Audits go more smoothly when the prep starts early — so our Assurance and Advisory team put together a year-end close checklist to take the guesswork out of getting ready. It lays out the accounts, schedules, and documents that come into play at year-end, all in one place. If we handle your audit, it's a handy roadmap for the weeks ahead. And if we don't, consider it a look at how we work — and a head start on a smoother close, no matter who you partner with. Please see the checklist below.

- - Close your books and reconcile all accounts.
    - Complete bank reconciliations for all bank accounts and credit cards.
    - Adjust out any clearing accounts.
    - Ensure any intercompany balances due to or from related parties match on each set of books.
    - Prepare aged accounts receivable and accounts payable schedules.
    - Update your fixed asset schedule with additions and disposals.
    - Update any prepaid expenses, including insurance policies paid in advance on a basis other than the calendar year.
    - Record investment earnings and reconcile to brokerage statements.
    - Accrue all known year-end liabilities, including: 
          1. Payroll related balances, including accrued payroll, accrued leave, and entries for any bonuses that might be paid after year-end
          2. Adjust revenue for any deferrals of revenue received but not yet earned.
    - Make adjustments for right-of-use assets and liabilities for any active long-term leases.
    - Count and document inventory (if applicable).
    - Adjust any donor-restricted balances (if applicable).
    - Collect board minutes, contracts, and loan statements.
    - Review all closing entries made and check that balances agree to supporting documentation.
    - Review all balance sheet balances for reasonableness and agree to any applicable supporting documentation.
    - Designate a point of contact for the audit team.

A well-prepared year-end close is one of the best investments you can make in an efficient, on-time audit. By working through this checklist as you approach your year-end, you can ensure cleaner books, minimize last-minute surprises, and position your organization for a smoother process from start to finish. To discuss how we can support your year-end close and audit readiness, please [contact our team](https://scottandco.com/connect?hsCtaAttrib=186001253255) at your convenience.

[View full post](https://scottandco.com/blog/financial-year-end-close-check-list)

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