Year-End Preparation Checklist
By CodexierPublished 5 min read
The year-end closing (bokslut) is where the year's bookkeeping becomes the numbers you are taxed on and, for a limited company, the annual report filed with Bolagsverket. Much of the cost and stress comes from what the accountant has to chase: missing receipts, unreconciled accounts, a stock figure nobody counted. This checklist covers the admin to finish before your accountant starts, so their hours go to judgement rather than hunting.
Complete the bookkeeping
- All receipts and invoices for the year booked, with nothing waiting in an inbox or a drawer
- Bank accounts reconciled against statements on the last day of the year
- The tax account (skattekontot) reconciled against Skatteverket's statement
- VAT reported for all periods and the VAT accounts reconciled
- Salaries, employer contributions and the monthly employer declarations reconciled
- Private expenses paid with company money, and the reverse, identified and booked correctly
If receipts are the bottleneck, our guide on digital receipts Skatteverket accepts explains what is enough. A month-end routine during the year makes this step far lighter.
Inventory and stock count
If your business holds stock, it must be counted at the balance-sheet date, or as close as possible with adjustments for movements in between. The count affects the result directly: stock valued too high overstates profit and tax.
- Plan the count date and who counts, and freeze deliveries during the count if possible
- Count physically; do not copy the figure from the webshop system
- Record quantity, item and value per item, and sign the count list
- Separate obsolete, damaged or slow-moving goods, which may be valued lower
- Keep the count lists as part of the year-end documentation
Stock is valued at the lower of cost and net realisable value. Your accountant decides the valuation method, but they depend on your count and your notes about damaged or unsellable goods.
Receivables and payables
| Item | What to prepare | Why |
|---|---|---|
| Customer invoices unpaid at year-end | A list with invoice date, amount and customer | Basis for receivables in the balance sheet |
| Doubtful receivables | Notes on customers who are late, disputing or insolvent | May be written down as bad debts |
| Supplier invoices for this year, received after year-end | Keep them aside and mark the period | Booked as payables for the right year |
| Prepayments from customers | List of payments for work not yet delivered | Income belongs to the year of delivery |
Chase late customers before year-end rather than after. A receivable that is collected does not need a judgement about whether it will be.
Accruals and prepayments
Accruals (periodiseringar) put income and costs in the year they belong to, not the year money moved. For most small businesses, a handful of recurring items cover most of it.
- Accrued costs: electricity, telephone or consultants for December invoiced in January
- Prepaid costs: rent, insurance or subscriptions paid in advance for next year
- Accrued income: work done this year but invoiced next year
- Prepaid income: customers who paid this year for delivery next year
- Holiday pay liability for employees' unused holiday
Sole traders who use the simplified year-end closing have lighter accrual rules. Ask your accountant which rules apply to you before collecting details you do not need.
Documents your accountant will ask for
- Bank statements for all accounts at the balance-sheet date
- The tax account statement from Skatteverket
- Loan agreements and statements, including shareholder loans
- Asset purchases over the year, with invoices, for depreciation
- Stock count lists
- Lists of unpaid customer and supplier invoices
- Leasing and rental agreements
- Decisions from board meetings affecting the accounts, for limited companies
Put everything in one shared folder with a simple index. The fewer emails your accountant sends asking for things, the lower the invoice tends to be.
Deadlines, and when to get help
For a limited company, the annual report must be filed with Bolagsverket within seven months of the year-end, after the annual general meeting has adopted it. Sole traders report the result in their income tax return with the business appendix. Your accountant will confirm the exact dates for your company.
If you keep your books current all year and have no stock, you may need no preparation help at all. If the backlog is the problem, our bookkeeping and finance admin support can book, reconcile and collect documents so your accountant receives a clean handover; we do not replace your accountant or sign the annual report. Hourly rates are on our pricing page, or book a short call.
Frequently asked questions
When should I start preparing for year-end?
A few weeks before the year ends: plan the stock count, chase late customers and catch up on receipts. The detailed reconciliations follow in the weeks after year-end.
Can I do the year-end closing myself?
Sole traders with simple businesses often can, using the simplified year-end closing. Limited companies usually benefit from an accountant, especially for the annual report and tax return.
What happens if the stock count is missing?
The accountant has to estimate, which is risky and hard to defend in a tax audit. Count, even roughly, and document how you did it.
Does an assistant need access to our bank to help?
Usually read-only access to statements and to the accounting system is enough. Payments and signing stay with you.
Year-end backlog piling up?
Tell us how far behind the books are on a short call. We will say what can be done before your accountant starts, and what they should handle.
Book a free 15-minute call