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Finalizing the Books: Year-End Accounting & Compliance Checklist 2025
Finalizing the Books: Your Year-End Financial Wrap-Up

07 Apr, 2025

By CA

Finalizing the Books: Your Year-End Financial Wrap-Up

The fiscal year is coming to an end, bringing a lot of regulatory compliance and tension involved in finalizing the books of accounts.

𝑚𝒎𝒊𝒅 𝒕𝒉𝒊𝒔 𝒄𝒉𝒂𝒐𝒔, 𝒅𝒐 𝒏𝒐𝒕 𝒇𝒐𝒓𝒈𝒆𝒕 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒆 𝒇𝒐𝒍𝒍𝒐𝒘𝒊𝒏𝒈𝒔:
🔹 Record each and everything in the books of accounts that have business concern
🔹 Verify inventory and other assets, and address any discrepancies
🔹 Establish provisions for potential liabilities
🔹 Prepare the financial statements for the year
🔹 Reconcile the GST data with the books
🔹 Prepare and file the annual GSTR
🔹 Make payments against any outstanding advance tax
🔹 Review and finalize Income Tax provision
🔹 Reconcile TDS and TCS with form 26 AS
🔹 Ensure compliance with transfer pricing
🔹 Make payments to all the small vendors
🔹 Make any tax saving investment needed

✅ 𝘊𝘭𝘰𝘎𝘊 𝘎𝘵𝘳𝘰𝘯𝘚, 𝘎𝘵𝘢𝘺 𝘀𝘰𝘮𝘱𝘭𝘪𝘢𝘯𝘵, 𝘢𝘯𝘥 𝘱𝘭𝘢𝘯 𝘎𝘮𝘢𝘳𝘵!


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