A year-end expense checklist
Published
The end of the year always arrives faster than expected, and the first weeks of January are a poor time to find out that half of November has no receipts. Autumn is the time to look.
Here is a checklist you can work through over a couple of evenings.
Catch up
- Capture the stragglers. Any receipts still in a bag, a coat or the car.
- Look for missing receipts. Spending policies mark the expenses that should have one; for the rest, skim the large ones and decide which matter.
- Check what the AI was unsure about. Anything left unconfirmed gets confirmed.
Tidy up
- Sort out "Other". If it holds more than you expected, rename, merge or move things.
- Review your tags. Merge the near-duplicates, such as trip-oslo and oslo-trip.
- Look for duplicates. Flagged ones first, then a glance at the largest of the year.
Check the numbers
- Compare with your statements. A quick pass over a bank or card statement for anything that is there but not in your records.
- Check the currencies. Foreign expenses should show their converted amount; a few may still be waiting for a rate.
- Look at the recurring ones. Which subscriptions will renew in the new year, and do you still want them?
Get it out
- Export what your accountant asked for, for the year and in the format they prefer, and store a copy somewhere that is not your phone.
If you share a workspace
Remind everyone to add their own expenses by a set date, look at whatever the spending policies have flagged, and check that each member's role still fits.
Last thing
Write down any questions for your accountant while they are fresh. Half of the value of a good year-end is knowing what to ask.