What to hand your CPA at year end (and make it painless)
Every year, small-business owners go through the same scramble: the accountant asks for “your year-end package,” and you start digging through email, bank sites, and shoeboxes. It doesn't have to be that way. Most CPAs ask for the same handful of things. If you know the list ahead of time, you can gather it in an afternoon, and your accountant can spend their time (and your money) on advice instead of chasing paperwork.
Every accountant is a little different, so treat this as a starting point and ask yours what they want. You can also grab our printable year-end checklist.
1. Your core financial reports
- Profit and loss (income statement) for the full year. This shows income, expenses, and profit.
- Balance sheet as of the last day of the year. This shows what the business owns, what it owes, and the owners' equity.
- General ledger if they ask for it. It's the detailed list of every entry behind the reports.
If you can, export these as PDFs and as spreadsheets. Accountants often like to work from both.
2. Bank and credit card statements
Have December statements (or whatever your year-end month is) for every business account: checking, savings, credit cards, and loans. Better still, make sure each account is reconciled through year end. Reconciled books are the single biggest time-saver you can give your accountant. (Here's a 15-minute routine if you need one.)
3. Who owes you, and who you owe
- Unpaid customer invoices (accounts receivable) as of year end. Flag any you don't expect to collect.
- Unpaid bills (accounts payable) as of year end.
4. Contractors you paid
If you paid independent contractors, your accountant will likely need a list of who you paid and how much, along with their W-9 forms, so the right information returns (like Form 1099-NEC in the US) can be filed. Collecting W-9s when you first hire a contractor saves a lot of January chasing.
5. Big purchases
Equipment, vehicles, computers, furniture: anything substantial you bought for the business. Have the receipt or invoice, the date, and the price. These are often handled differently from everyday expenses, and your accountant will decide the best treatment.
6. Loans and financing
Year-end loan statements showing the balance and how much interest you paid. If you took out a new loan or line of credit during the year, include the paperwork.
7. Owner activity
Money you put into the business and money you took out (owner draws or distributions). If you have business partners, include each person's contributions and withdrawals. For multi-member LLCs, this feeds into each member's share of the results.
8. Payroll reports (if you have employees)
Annual payroll summaries and W-2s from your payroll provider.
9. Anything unusual
A short note goes a long way. Did you start or close a location? Get a big insurance payout? Sell equipment? Change your business structure? Give your accountant a heads-up in plain words.
How to make next year easier
- Keep business and personal money separate. It's the foundation of everything else. (More on that here.)
- Reconcile monthly, not once a year.
- Categorize as you go. Ten minutes a week beats ten hours in March.
- Give your accountant direct access to your books so they can pull what they need themselves.
How Apsis helps
Apsis keeps your profit and loss, balance sheet, and general ledger up to date as your bank transactions come in, and you can download them as polished PDFs with your logo. You can invite your CPA or bookkeeper with an accountant seat at no extra cost, so they can look for themselves. At year end, the 1099s tab lists which contractors need a form and for how much, and flags a missing tax ID or address before January. Start a free 30-day trial.