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I am a CPA in the United States and I summarized the steps to close out the financial year from an Accounting standpoint.
Videos mentioned during this tutorial:
Bank Reconciliation:
• How (and why) I Perform Bank Reconcil...
Record Payroll JE:
• How To Automate Journal Entries [All ...
Vacation Accrual JE:
• Accounts Payable vs. Accrued Expense....
Revenue Recognition ASC 606:
• Revenue Recognition ASC 606 Explained...
Stock Options JE:
• How To Create A Cap Table. Capitaliza...
Allowance for Doubtful Accounts JE:
• Allowance For Doubtful Accounts Expla...
Balance Sheet Reconciliation:
• Reconcile The Balance Sheet Like A To...
How To Analyze The Financial Statements:
• How to Analyze Financial Statements F...
Time Stamps:
00:00 Intro
00:50 Agenda
01:10 Overview of the checklist
03:34 1. Billing & AR
06:21 2. Accounts Payable
08:21 3. Cash & Credit Cards
09:54 4. Employee Expenses
10:55 5. Payroll
14:19 6. Revenue Accruals
16:16 7. Inventory Accruals
19:30 8. Fixed Assets
22:33 9. Other Accruals
26:34 10. Account Reconciliations
28:22 11. Flux Analysis
28:56 12. Discuss results with management
29:52 13. Close the year in the system
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The Financial Controller
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