It’s Not Too Early: Get Your Books Ready for Year-End

The end of the year might still feel far away, but when it comes to your books, starting early can make all the difference. Waiting until December—or worse, January—to sort through your records can lead to missed deductions, rushed entries, and unnecessary stress.

Getting a head start on year-end bookkeeping ensures accuracy, saves time, and gives you a clearer picture of your business’s financial health before tax season begins.

Why Now Is the Right Time

Even if your fiscal year follows the calendar, the fall months are an ideal window to begin your year-end prep. Here’s why:

• You’ll catch errors early. Reviewing your books now allows time to fix misclassifications, missing transactions, or reconciliation issues.

• You can take proactive tax steps. Spotting opportunities like retirement contributions or year-end purchases now gives you time to act before December 31.

• Your CPA will thank you. Accountants get busier the closer we get to tax season. The sooner you provide clean books, the smoother your tax filing will be.

  
  

Key Steps to Prepare Your Books

1. Reconcile Your Accounts Make sure your bank, credit card, and loan accounts are fully reconciled through the most recent statement. This confirms your books match your actual cash flow.

2. Review Income and Expenses Check for any missing income or expense entries. Look out for duplicate entries, misclassified transactions, or charges that should be reimbursed or written off.

3. Update Your Chart of Accounts Has your business grown or changed this year? Make sure your chart of accounts still fits your operations. Consolidate unused accounts and add new ones as needed.

4. Track Outstanding Invoices and Bills Follow up on unpaid invoices and review any outstanding bills. Collecting and paying what’s owed before year-end can improve your cash position and clean up your balance sheet.

5. Organize Your Receipts and Documentation Ensure that all supporting documentation—receipts, invoices, mileage logs, and more—is properly stored and matched to transactions.

6. Review Payroll and Contractor Payments Check that all payroll records are complete and accurate. If you’ve paid contractors $600 or more during the year, start preparing for 1099 filing.

7. Schedule a Year-End Review with Your Accountant or Bookkeeper A year-end review helps you identify opportunities, reduce surprises, and set you up for a smoother filing season. Don’t wait until the calendar flips.

In Summary

Year-end doesn’t have to be overwhelming—if you start early. Getting your books in order now gives you more control, more clarity, and more time to make strategic decisions that can lower your tax bill and strengthen your business.

If you're not sure where to start, or just want a second set of eyes on your books, Nuve is here to help. Let’s wrap up the year with confidence and clarity—so you can head into 2026 organized and ready. Book a call today.

Disclaimer:

The information provided in this blog is intended for general guidance and educational purposes only. It is not a substitute for personalized professional advice. Every individual's financial situation is unique; therefore, you should review your specific needs and consult with qualified professionals, such as certified public accountants or tax advisors, before making any decisions. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or currency of the content. By using this blog, you acknowledge that you have read and understand this disclaimer, and you agree to use the information responsibly, in conjunction with advice from qualified professionals, to make informed financial decisions.