Bookkeeping & Accounting
Monthly reconciliations, AP/AR, and financial statements in QuickBooks, Xero, Sage 50 or Zoho Books, reviewed by a US-based manager.
Year-end financials, clean and audit-ready.
Year-end financials: clean, complete, audit-ready
Closing entries posted, the general ledger reconciled to supporting schedules, and a full set of annual statements with workpapers, prepared to US GAAP. Your tax preparer files from it instead of rebuilding it.
Year-end reporting is the process of closing the accounting year: posting adjusting journal entries, reconciling every general ledger account to a supporting schedule, and producing annual financial statements with workpapers. Veris prepares this to US GAAP, with UK and Canadian equivalents available, and delivers a package your tax preparer can file from directly.
What's included
The full scope of year-end reporting
Everything below is in the standard engagement. If something you need is not here, say so on the call and we will price it in or tell you it is out of scope.
- Closing journal entriesAccruals, prepaid amortization, depreciation and year-end adjustments, posted and documented so the reason for each entry survives the year.
- General ledger reconciliationEvery account reconciled to a supporting schedule: bank, loans, fixed assets, accrued liabilities, intercompany.
- Annual financial statementsP&L, balance sheet and cash flow statement, formatted for tax filing or audit rather than for a screen.
- Audit support workpapersSupporting schedules and documentation so an external audit generates a short list of follow-ups instead of a long one.
- Year-over-year analysisComparative financials with the movements that need explaining already identified.
- Tax preparer handoff packageA complete package that cuts your preparer’s time, and therefore their invoice.
How it works
The process, start to finish
- Pre-close reviewWe review the books in the final month of the year and flag missing entries and anomalies while there is still time to fix them.
- Post and adjustClosing entries posted, accounts reconciled, trial balance finalized and locked.
- Deliver the packageStatements, schedules and workpapers delivered to your deadline, whether that is calendar year end, a fiscal year end, or your CPA firm’s internal schedule.
What you receive
- Posted and documented closing journal entries
- Reconciled general ledger with supporting schedules
- Annual P&L, balance sheet and cash flow statement
- Audit support workpapers
- Year-over-year comparative analysis
- A tax preparer handoff package
Who this is for
- Businesses closing a calendar or fiscal year
- Companies facing a first external audit or review
- CPA firms outsourcing year-end close work
- Businesses whose tax preparer keeps billing for cleanup
Before you send us anything
How we handle your data
The same controls apply to every engagement, whether you are a sole trader or a 40-partner firm.
- Encrypted file transferClient files move over encrypted channels. Nothing sensitive travels as an email attachment.
- Role-based accessStaff see only the engagements they are assigned to. Access is revoked the day it is no longer needed.
- NDAs and DPAs as standardA mutual NDA and a data processing agreement are signed before the first file moves, not after the pilot goes well.
- US-managed reviewA US-based manager reviews work before it reaches you. The review layer is the product, not a courtesy.
What is the difference between a month-end and a year-end close?
A month-end close proves the month. A year-end close proves the year to an outside reader, which is a higher bar and a different scope of work.
Month-end is largely reconciliation and categorization: the accounts tie, the statements are produced, the business can make decisions. Year-end adds the entries that are impractical monthly and mandatory annually: depreciation and amortization, accrual and prepaid adjustments, inventory and fixed asset roll-forwards, intercompany eliminations, and the reconciliation of every balance sheet account to a schedule someone else can follow. It also produces the artifacts a third party needs, which is where audit support workpapers and the tax preparer package come from.
Can a clean year-end reduce your CPA bill?
Usually, yes, because a large share of most year-end tax invoices is the preparer reconstructing records before they can begin the return.
When a preparer receives a trial balance that does not tie, no supporting schedules, and a fixed asset register that stops two years ago, the first several hours of the engagement are bookkeeping billed at tax-preparation rates. Handing them a reconciled ledger, schedules for every material account, and a documented set of adjusting entries removes that work. We cannot promise a figure, because your preparer sets their own fee and we do not control it. What we can say is which specific work we are removing from their scope.
Do you work to a non-December year end?
Yes. Calendar year, a fiscal year ending in any month, or a CPA firm’s own internal close schedule.
The deadline is agreed at the start of the engagement and we work backwards from it, with the pre-close review timed to land in the final month of your year rather than after it has ended. Fiscal-year businesses are frequently treated as an exception by providers built around a December cycle; for us it is a date in the engagement letter.
Primary sources referenced on this page
Year-End Reporting: questions we get asked
Do you work to a fiscal year that is not December?
Yes. Calendar year, fiscal year, or a CPA firm’s internal close schedule. The deadline is agreed at the start of the engagement and we work back from it.
Is this prepared to a recognized standard?
US GAAP by default. UK and Canadian equivalents are available where the entity reports under those frameworks.
Can this reduce my CPA bill?
Usually. A large part of most year-end tax invoices is the preparer reconstructing records before they can start on the return. Handing them a reconciled ledger with supporting schedules removes that work. We cannot promise a number, because your preparer sets their own fee.
Related
What usually goes with this
Tax Preparation
US (IRS) and UK (HMRC) return preparation across every entity type, plus Canadian GST/HST filings and CPA white-label prep.
Books Cleanup
Catch-up bookkeeping, reconciliation backlogs, transaction reclassification and chart of accounts reconstruction, at a fixed price.
Get a fixed quote for year-end reporting
Book a free 30-minute call. We will scope the work, quote a fixed fee, and tell you honestly if a different service is the better fit.
- +1 (929) 600-0884
- info@verisfinancials.com
- We reply within one business day