Agricultural Year-ends - Some handy tips and advice

Things to remember at your accounting year-end:

  • Complete ALL sections of your stock sheet
  • Prepare a livestock reconciliation agreeing the opening stocks and movements for the year to the closing stock
  • Ensure your bank accounts, credit card statements and loans are reconciled to your year-end. If you have to continue reconciling past your year-end, please take copies/print your reconciliation at the year-end before continuing
  • If applicable, review all your ledgers (customers, suppliers, VAT) to ensure these are correct and adjust for any errors if needed
  • Review your postings to ensure they are included under the correct headings and that you have included as much detail as possible
Written by Louise Heywood ACCA

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