Preparing for your year-end

In order for us to produce your accounts we will need the following information, where it is relevant to your business. Don’t worry, we make this as easy as possible for you.



If you hold items for sale, or consumables yet to be used, include this in a breakdown at your period end. We need to know the value and quantity on hand of each item at your accounting period end. A rough estimate will do if a detailed breakdown is unavailable.

Bank statements

Please provide a copy of the bank statement(s) showing the balance(s) at the end of the reporting period. If you have credit card or any other similar accounts, please provide statements for these as well.

We need the statements in order to confirm your balances at the period end.

If you have errors that need correcting, please make sure you provide the full statement, ideally in CSV format.

Cash account balance

Do you maintain a petty cash tin, or a cash deposit in a safe? If so, please provide the balance of the cash account at the end of the reporting period.

Customer and supplier balances

Please confirm the balances of your aged receivables and aged payables on your accounting system at the year-end (or provide us with a list of them).

The aged receivables is the list of customer balances that were owing to you at your period-end.

The Aged payables is the list of supplier balances owed by you at the year-end.


Make sure all your bookkeeping is up to date if you are in charge of it.

I.e. if you are using Xero, QuickBooks, or something else, please ensure you have finished recording all transactions in the period. We will need to lock this down before starting on the accounts.

Loans, leases and finance

Please provide copies of all new hire purchase or leasing agreements, if any.

Please provide copies of any new loan agreements, if any.

Please provide a list of any non-cancellable leases, i.e. for printers and rent, etc. We would need to know who the supplier is, how often you pay them, how much you pay, and when the lease payments will end.

Fixed assets

Fixed assets are large items of equipment, which usually stay in the business long term. Fixed assets are not the same as stock items, which are either sold or used up in part of ordinary operations.

Examples of fixed assets include vehicles, office equipment like computers, desks and shelving. It also includes machinery, fixtures, and fittings to buildings.

Please keep a list of any assets purchased and disposed of during the period. We will need this for the accounts.

Have you checked whether you can save any tax by looking at our How to save tax page?

How to save tax

In particular, make sure you look at the requirements for the following:

  • Home office (keep a record all your home expenses as we can put a proportion of these through the business to help save you tax)
  • R&D claims (for businesses that are involved in research)
  • Mileage (if you make business trips in a personal vehicle, you can claim 45p per mile through the business)
Accrued income and deferred income

Are there any invoices dated after the end of the reporting period that relate to work already completed in the period?

Similarly, are there any invoices dated before the year-end, but which relate to work done after the year-end?

How to share this information with us

Your account manager at Xoba will get in touch close to your year-end to remind you to make a note of any relevant information from the list you see here. We will ask you again when we start your accounts. We will always help you to save tax wherever possible, unless specifically asked not to.

All information can be shared with us via the client portal, or if easier, feel free to email this across.

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