A standard checklist will include the following requests:
- All bank statements
- Check butts
- Deposit book butts
- Cash book if you write one up
- Petty cash details
- Schedule of all payments which are made by cash by you and not in petty cash
- Details of any income that you have received in cash but not banked into your bank account
- If you run a computerised system, then full reports which record your transactions whether cash or otherwise
- If you have debtors, then a full list of money owing by customers to you
- If you run a creditors list then money owing to you by suppliers
- A copy of all documentation involved in the business dealings such as hire purchase agreements, loan agreements, leases, payments to suppliers by automatic payment, contracts etc
- A list of the stock take that you have taken to arrive at the quantities and value of stock on hand at the end of the period
- Details of other income and expenses outside of the books such as interest earned from investments or interest paid out for loans etc
- Details of all the assets that have been bought during the financial period or that have been sold during that time. Include the prices that were obtained for them
- Details of other events that have happened in the business but are not basically recorded in the cash book or other books of the business. This could include a sale of some assets, or part of the business or details of a large loan that has been secured by the business. All of these will be evidenced by some form of documentation.
- This is a list of the main things that your accountant will request from you. In addition, he or she will have a meeting to go through the years results and answer further questions before he or she sets down to draft up the financial accounts of the business.
Return to 'Checklist' menu