As the year draws to a close and the festive season creeps in, many business owners are juggling deadlines, Christmas plans and everything in between. Sound familiar? While it can be tempting to leave the numbers until January, getting your accounts in order before year end can save stress, time and even money.

Jackson Accounts believe a calm, clear approach makes all the difference. With that in mind, here is a practical end-of-year accounting checklist to help small and medium-sized businesses wrap things up neatly before the new year bells ring.

Review Your Income and Expenses

First things first, do your figures tell the full story? Now is the time to check all income and expenses have been recorded correctly. Missing invoices or forgotten costs can quickly throw things off balance. Have you captured everything from subscriptions and travel to those smaller purchases that add up over time?

A clean set of records now means fewer surprises later.

Chase Outstanding Invoices

Waiting on payments can feel like watching tinsel slowly unravel! If you have outstanding invoices, follow them up before businesses close for Christmas. Improving cash flow now helps avoid a tight January and puts your business in a stronger position going into the new year.

Check Allowable Expenses and Tax Reliefs

Are you claiming everything you are entitled to? Many businesses miss out on allowable expenses simply because they are unsure what qualifies. Staff gifts, equipment purchases and certain subscriptions may be claimable if handled correctly. A quick review could result in a welcome tax saving, now that really is a festive treat.

Prepare for Tax Deadlines

Deadlines do not take a holiday, even if you do. Whether it is Corporation Tax, Self-Assessment or VAT, knowing what is due and when helps you plan ahead rather than panic later. Setting money aside now can make those upcoming payments far less daunting.

Review VAT and Payroll Records

VAT errors are common, especially during busy periods. Checking returns, rates and records before year end can prevent costly mistakes. The same goes for payroll, are staff details, benefits and bonuses recorded correctly? A quick check now avoids headaches in the new year.

Reflect and Plan Ahead

Finally, take a moment to reflect. What worked well this year? What could be improved? End of year is the perfect opportunity to review performance, set realistic goals and plan for growth. After all, a new year deserves a fresh financial focus.

Jackson Accounts work closely with businesses across Bolton, offering clear advice and personal support tailored to each client. With the right guidance, end-of-year accounting does not have to feel overwhelming. Instead, it can be the first confident step into a stronger, more organised year ahead.

After all, who wouldn’t want to start the new year with their books balanced and their mind at ease?