Hand Over The Year, Get Back Finished Books
One year-end close for businesses with simple, steady activity. Your statements and receipts become reconciled books, and those books become your return without a second handoff.
Annual Bookkeeping Services In Homestead, FL
Some businesses don't move enough money to need a monthly or quarterly close. A sole proprietor with a few regular customers, a side business with one bank account or a single-member LLC that bills the same clients every month can keep things tidy all year and only need the full books built once. Annual bookkeeping services are made for that.
Year end bookkeeping here means the year is closed properly: every account reconciled to the December statement, every transaction in the right category, and the annual books for your tax return finished before preparation begins. It's one of our bookkeeping services in Homestead, FL, and it pairs with the return you were going to file anyway.
- Twelve months of bank and card activity entered and categorized
- Every account reconciled through December 31
- A full-year profit and loss statement and balance sheet
- Books handed straight to tax preparation in the same office
From A Year Of Statements To A Filed Return
The work happens once, in the weeks after the year ends.
Gather The Year
You send all twelve bank and credit card statements, any loan statements and the receipts or notes for cash activity. A short checklist shows exactly what's needed, so nothing has to be asked for twice.
Build And Reconcile
Every transaction is entered or imported into QuickBooks Online or QuickBooks Desktop, categorized and reconciled month by month until the December balances match the bank to the penny.
Review The Year Together
You see a profit and loss statement and balance sheet for the full year, with questions on anything that looks out of place, like a large transfer or a deposit with no source.
Straight Into The Return
The finished books go directly into your business or personal return, prepared in the same office, so there's no gap between what the books say and what gets filed.
When One Close A Year Isn't Enough
Annual bookkeeping works when the year is simple. It gets harder with payroll, inventory, a loan that requires regular statements or income that swings from month to month. A year of that activity is a lot to reconstruct at once, and problems sit unnoticed until the return is due.
If that sounds like your business, quarterly bookkeeping or monthly bookkeeping keeps the numbers current as the year goes. And if last year's close never happened and the year before slipped too, start with catch-up bookkeeping to rebuild the missing years first.
Year-End Bookkeeping Questions Worth Asking Early
When should I send my records for annual bookkeeping?
As soon as your December statements arrive. Partnerships and S-Corporations face a March 15 deadline, and sole proprietors and corporations have until April 15, but the books come first and take time. Sending everything in January keeps the return out of the last-minute crowd in the middle of filing season.
What if I lost some receipts during the year?
Bank and card statements show most of what happened, so the books can usually be built without every paper receipt. Missing records are noted, and you'll be asked about anything large or unclear. Going forward, keeping receipts for cash purchases and bigger expenses is the habit that matters most.
Isn't annual bookkeeping the same as doing my taxes?
No. A tax return summarizes the year, and the books are where those totals come from. Without reconciled books, a return gets built from rough estimates, which is how income gets missed or deductions get skipped. Annual bookkeeping does the sorting and reconciling first, so the return has solid numbers underneath it.
Bookkeeping Options Beyond Once A Year
Four reconciled closes a year, so estimated payments and decisions use real profit instead of last year's figures.
Read about it Financial Statement PreparationTurn the finished year into a formatted profit and loss statement and balance sheet for a lender or landlord.
Read about it Catch-Up & Cleanup BookkeepingFor the years that never got a close at all, rebuilt in order and reconciled to the bank.
Read about it Return To BookkeepingEvery bookkeeping service we offer in Homestead, FL, on one page.
Back to BookkeepingClose Out The Year Before Filing Season Fills Up
Gather your December statements and tell Alex which return the business files. You'll know what's needed and how the year gets finished.