Month-End Close / Year-End Close
We handle the month-end and year-end close for small businesses across Cardiff and South Wales, giving you accurate financial statements without the headache. Our team takes care of reconciliations, adjusting entries and compliance checks so you can trust your numbers and focus on running your business.
What we cover in your close
From monthly reconciliations to comprehensive year-end reporting, we manage every step of the close process to keep your books accurate and compliant.
Bank and Balance Sheet Reconciliation
Matching every transaction, clearing discrepancies, and ensuring your balance sheet ties out properly.
Adjusting Entries and Accruals
Posting depreciation, prepayments, accruals and corrections to reflect the true financial position.
Financial Statement Preparation
Producing your income statement, balance sheet and supporting reports ready for review or filing.
Year-End Audit Preparation
Extended reconciliations, workpaper documentation and schedules to support your year-end audit or review.
How we keep your books closed and compliant
Month-end and year-end close can feel like a scramble, especially when you are juggling invoices, bank statements and HMRC deadlines. We take the entire process off your hands, from collecting financial data and reconciling accounts to posting adjusting entries and producing final statements. Whether it is a monthly close in under a week or a comprehensive year-end wrap in two to three weeks, you get accurate reports delivered on time.
Our approach is methodical and transparent. We start by gathering every invoice, expense receipt and bank transaction for the period, then reconcile your bank accounts and balance sheet line by line. Adjusting entries for accruals, depreciation and prepayments are posted, and we verify fixed assets, payroll and inventory reconciliations before locking the books. You receive clean financial statements, an income statement and balance sheet, plus any supporting schedules you need for management review or audit preparation.
You get reliable numbers every month, not a last-minute scramble at year-end.
More information
Many Cardiff business owners tell us they have lost hours chasing down missing invoices or untangling bank feeds. We set clear cut-off deadlines, communicate them to your suppliers and team, and make sure late bills are either accrued or included in the following period. For year-end, we extend the close window to capture vendor invoices that arrive after the cut-off, and we document every adjustment so your records stand up to scrutiny.
Automation speeds up the process, but manual review is essential. We use cloud accounting software to pull data quickly, then apply our ten years of experience to spot errors, duplicate entries and unusual transactions. Checklists and task assignments keep the workflow moving, and we archive all workpapers so you have a complete audit trail.
We work with retail shops, salons, tradespeople and professional services firms across Cardiff, Pontypridd, Barry and the Vale of Glamorgan. If your business has outgrown spreadsheets or you simply want month-end handled properly, we can step in and deliver the close process you need. Once the books are locked, we distribute statements to you and any other stakeholders, then prepare the calendar for the next period so nothing slips through the cracks.
What happens after the close
Once your period is closed, you receive a full set of financial statements and a summary of any adjustments we have made. We keep detailed notes and workpapers on file, archived and ready for audit or tax return preparation. If you spot anything unexpected in the numbers, we walk you through it in plain English. There is no jargon, no mystery, just clear explanations so you understand exactly where your business stands.
For year-end, we also prepare schedules for deferred taxes, retained earnings and any other items your accountant or auditor will need. If you are filing accounts with Companies House or preparing for a tax return, the close feeds directly into those deadlines. We coordinate with your auditor or tax adviser if needed, providing workpapers and reconciliations so the handover is seamless.
A smooth close means better decisions, fewer surprises and confidence in your financial position.
Complements your close
Profit & Loss Statement Preparation
Clear profit and loss statements prepared from your records, with plain-English insight into margins, overheads and true profitability for the period.
Profit & Loss Statement Preparation→Making Tax Digital (MTD) Bookkeeping Compliance
Making Tax Digital bookkeeping compliance, including software setup, digital record-keeping, reconciliations and MTD VAT submissions, with clear deadline reminders.
Making Tax Digital (MTD) Bookkeeping Compliance→Receipt Management & Paperless Accounting
Go paperless without the stress. Capture receipts by phone or email, keep them organised and matched to transactions, and make VAT and year-end accounts much simpler.
Receipt Management & Paperless Accounting→Accounts Payable & Receivable Management
Stay on top of customer invoices and supplier bills. We track debtors and creditors, chase overdue payments, schedule payments and share clear monthly summaries.
Accounts Payable & Receivable Management→Bank Reconciliation
We reconcile your bank to your bookkeeping records, fix mismatches and clear uncleared items, so your figures are reliable for VAT, accounts and cash flow.
Bank Reconciliation→QuickBooks Setup & Training
Get QuickBooks set up for your business, with bank feeds, VAT settings and invoicing, plus practical training so you can keep your books tidy each week.
QuickBooks Setup & Training→Before we start
These answers are specific to how we handle month-end and year-end close for small businesses in Cardiff.