Documents Required for Annual Accounts
Preparing annual accounts requires organised financial records. Below is a checklist to help you get everything ready:
Bank & Financial Records
- Bank statements for the full financial year (all accounts)
- Credit card statements (if applicable)
- Loan agreements and repayment schedules
Sales & Revenue
- Sales invoices issued during the year
- Revenue contracts and agreements
- Credit notes issued
Purchases & Expenses
- Purchase invoices and receipts
- Supplier contracts
- Rent and lease agreements
- Utility bills and office expense receipts
Payroll & HR
- Employee salary records and WPS reports
- End-of-service benefit calculations
- Visa and labour card costs
Fixed Assets
- Asset purchase invoices
- Asset disposal records
- Depreciation schedules (if previously maintained)
Corporate Documents
- Updated trade licence
- Memorandum and Articles of Association
- Shareholder agreements (if any changes occurred)
Tax-Related
- VAT returns filed during the year
- Corporate Tax registration certificate (if applicable)
- Any correspondence with the FTA
Tips for a Smooth Process
- Digitise everything -- scan and organise documents by month
- Reconcile monthly -- do not wait until year-end to reconcile bank statements
- Maintain a chart of accounts -- consistent categorisation makes preparation faster
Kounted can handle your annual accounts preparation end-to-end. Get in touch to schedule a kick-off call.