November Small Business Year-End Bookkeeping Checklist

Get ahead of tax season with this November small business year-end bookkeeping checklist from Silver Star Bookkeeping. Learn how to reconcile accounts, prepare 1099s, and make smart year-end moves for a stress-free start to 2026.

As the year winds down, it's crucial to get your finances in order. Waiting until January can lead to rushed mistakes and missed opportunities. By taking action in November, you set your business up for a smooth transition into the new year.

1. Reconcile All Bank and Credit Card Accounts

Ensure that your records match your bank statements. This is the foundation of accurate bookkeeping and will save you headaches during tax season.

2. Review and Update Inventory

If you carry inventory, do a physical count. Adjust your records to reflect the actual stock on hand, accounting for any loss or damage.

3. Prepare for 1099s

Review your vendor list and identify anyone who needs a 1099. Make sure you have their updated W-9 forms on file.

4. Analyze Profit and Loss

Look at your P&L statement to understand your business's financial health. Identify areas where you can cut costs or invest more before the year ends.

5. Plan for Taxes

Consult with your accountant to discuss any last-minute tax strategies. This could include making charitable donations or purchasing necessary equipment.

By following this checklist, you'll be well-prepared for the end of the year and ready to tackle 2026 with confidence. If you need assistance with any of these tasks, the team at Silver Star Bookkeeping is here to help!