Create the Right Year-End Check List

The end of the year is a great time to review your QuickBooks Online account and make sure everything is in order. Here’s a quick checklist to help you get started:

1. Is everything reconciled? 

How do I know? Use reports>For My Accountant>Reconciliation Report

A table with a yellow star in the middle of it.

Chose each bank account to see when it was last reconciled and if the statements are attached

A screenshot of a website showing the history of an account.

Review the most recent Reconciliation report. What is outstanding for more than 30 days? Look into those transactions and make adjustments as needed.

2. Track your mileage.

 If you need to have your mileage tracked for tax purposes, do it now. There are plenty of apps that can help you with this and there is one right inside of QuickBooks Online:

A screenshot of a website that says track mileage automatically and get $ 0.85 a mile

3. Gather your receipts.

 Make sure you have taken your paper or digital receipts and have them stored on your computer or inside of QuickBooks Online. There is a receipt capture feature inside of QuickBooks Online that can streamline this process. You can upload receipts from your computer, Google drive or have them sent by email directly into QBO.

A screenshot of a website with three icons on it.

Other apps that do an exceptional job of this are Expensify and Divvy. They are very helpful when you have employees who need to provide expense reports and reimbursements.

4. Verify vendor information

It becomes very difficult in January to hunt down vendors for their W-9s. Start now, if you haven’t already by asking vendors for W-9s to keep on file. Make sure their email and physical addresses are up to date, because 1099 forms are sent electronically or mailed. Having done these tasks will make things go smoothly when it comes time to file 1099s to the IRS.

5. Payroll

Are benefits and salaries being calculated properly? You can ask your payroll provider for reports to review and make sure these items are what you are expecting. Start to think about year end profit sharing or bonuses and what those will look like.


We hope this helps you get started on your end of year review. If you have any questions, be sure to reach out to our team of experts. We’re always happy to help!

Our Latest Insight

Chart of Accounts for a Contracting Business

By Alisa McCabe • August 17, 2026
Between tracking fluctuating material costs, managing subcontractor fees, and juggling multiple active jobs, contractors face a unique set of financial complexities. At the heart of keeping these moving parts organized is the Chart of Accounts (COA), the foundational index of every financial transaction your business makes. For a contracting business, a well-structured COA does far more than just keep the tax preparer happy. It serves as the backbone for accurate job costing, allowing you to see exactly which projects are driving profits and which ones are eating into your margins.  This article will guide you through the essentials of building a specialized Chart of Accounts tailored specifically for contractors, highlighting the unique categories you need to track, and sharing best practices to streamline your bookkeeping and elevate your business insights.

What Is Fractional Accounting? (And How It Can Help Your Business)

By Alisa McCabe • August 11, 2026
Fractional accounting gives your business a bookkeeper and controller for a flat monthly fee. Below you will find what it covers, what it costs, and how to know if it fits.

Progress Billing vs. The Completed Contract Method

By Alisa McCabe • August 3, 2026
In the contracting world, where projects can span months or even years, managing cash flow and financial reporting is a unique challenge. Unlike traditional businesses that recognize revenue at the point of sale, contractors must choose how and when to account for their income and expenses. Two of the most common frameworks used to navigate this are Progress Billing (often paired with the Percentage of Completion Method ) and the Completed Contract Method (CCM). Progress Billing allows contractors to invoice clients and recognize revenue incrementally as milestones are met throughout the project. Completed Contract Method defers all revenue and expense recognition until the entire project is officially finished.  Selecting the right method goes far beyond basic bookkeeping; it fundamentally shapes your tax obligations, cash flow health, and how creditworthy your business appears to lenders and investors. This article breaks down the core differences between these two methods, explores their pros and cons, and helps you determine which strategy is the best fit for your business.

CONTACT US

Contact Us