Set up a usable monthly close
Choose a document process for sales, purchases, bank activity, expense claims, payroll and contracts. Keep the counterparty, transaction date, business purpose, currency and supporting evidence connected. Reconcile bank and payment accounts and investigate missing documents before the reporting deadline.
Separate bookkeeping entries from decisions about tax treatment. VAT, withholding, payroll and corporate income tax can require different evidence and returns. Assign each obligation to a named preparer and reviewer, and retain filing acknowledgements and payment proof.
Use the figures to run the business
Review cash available, receivables, payables, tax balances, payroll and upcoming commitments. A profit figure is not the same as money available to spend. Prepare a cash-flow forecast with explicit assumptions for payment delays, deposits, renewals and seasonal activity.
Ask an accounting provider for the actual deliverables: bookkeeping frequency, management reports, tax preparation, payroll, annual accounts, audit coordination and support for questions. Agree what is excluded and who will retain accessible records if the service ends.
Prepare for annual accounts and audit
Set the year-end timetable early and identify the entity’s applicable financial-statement, audit, approval and filing requirements. Reconcile balances and organise contracts, asset records, stock information, related-party transactions and supporting schedules as applicable. The auditor’s work and management’s preparation are distinct responsibilities.
Use current DBD and Revenue Department instructions for the actual entity and filing period. The detailed guides explain the process and questions; a general calendar or calculator should not be treated as confirmation of every filing date, tax rate or exemption.
Useful next steps
Bookkeeping
Build the transaction-to-record process.
Bookkeeping: operator information
Accounting services
Agree scope, responsibility and deliverables.
Accounting services: operator information
Payroll
Connect staff data, deductions and payment records.
Financial planning
Prepare cash-flow and funding scenarios.
Financial planning: operator information
Annual accounts
Organise year-end preparation and filing.
Annual accounts: operator information
Auditing
Prepare evidence and understand the separate audit role.