Checklist for The Financial Year-End

Year-End closing is one of the most important processes for any company, requiring coordination and consistent joint work between different departments. It is necessary to carry out many tasks in the shortest possible time and to think about the future, consider new standards and legislative changes.

How to not miss important things and get everything done on time by properly allocating employees‘ time?

SCHNEIDER GROUP starts preparing for annual closing in October and applying the practice of early year-end closing.

We use check-lists as a basis for structuring tasks. The check-list implies a level of detail sufficient for the employees of the departments involved to understand; each task has a deadline and a responsible person. All SCHNEIDER GROUP clients are treated individually - we are constantly improving and flexibly adapting our approach and check-lists to the specifics of our clients.

We are ready to share with you the information about the basic elements that can be on your financial check-list.

◼ Changes in legislation

◻ Analysis of changes in taxation, their relevance to the company and the necessary early actions to ensure the smooth running of business processes
(For example, changes in the VAT rate in Russia in 2026)
◻ Analysis of changes in accounting, updating of the Accounting Policy, timely adaptation of management reporting
◻ Analysis of the ERP system readiness for legislative changes

◼ Employee availability

◻ Information on absent employees (including the General Director), especially those with signature rights for payments, payroll,
incoming and outcoming shipments, inventory taking, write-offs, etc.
◻ Working hours on public holidays if necessary
◻ List of employees who can replace or support key staff in case of emergencies

◼ Timelines

◻ Dates of year-end payments, salary payments, acceptance of closing documents, accruals
◻ Dates of the latest warehouse operations in the period (receipt / shipment, intra-warehouse transfers, write-offs)
◻ Coordination of inventory taking dates and details (locations, methods, participants, counting objects: finished goods, inventories, cash, fixed assets)
◻ Dates of receipt of primary documents from customers and suppliers, taking into account delivery – Setting dates and scope of internal and external audits

◼ Reconciliations

◻ Plan and forms of reconciliation with counterparties, affiliated companies and state authorities
◻ Analyzing and dealing with accounts receivable and payable
◻ Reconciliation of accounting data related to contracts with foreign counterparties with bank currency control statements

◼ Accounting operations

◻ Analysis of the need for estimated liabilities and provisions
◻ Preliminary calculation of taxes and financial result
◻ Review of statutory net asset requirements