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
The content of this article is for general information only and does not constitute tax advice. It should not be relied upon and action which could affect your business should not be taken without appropriate professional advice.
Louise Heywood FCCA
Manager
Lou has been an integral part of Margaret's team since 2006, bringing with her a wealth of expertise as a qualified Chartered Certified Accountant. With a particular focus on an agricultural portfolio, as well as experience with several Estates, Lou thrives on assisting clients with all facets of accountancy and taxation, ensuring that they receive tailored advice that meets their unique needs.
Outside of her professional pursuits, Lou is a devoted mother to her young daughter, Olivia, with whom she shares a passion for the great outdoors. Together, they relish the opportunity to visit Lou's parents' farm, where they lend a helping hand whenever possible. Lou's enthusiasm for adventure extends to her love of horse riding, and she can often be found cheering on the Exeter Chiefs at Sandy Park.
Lou is available Mondays, Tuesdays, and Thursdays to tackle any query that may arise.