March closes the books’ year; how you close the books decides how painful the following months become. This checklist turns year-end from archaeology into procedure.
Before the year ends
- Physical stock count planned and executed at the cut-off
- Advance tax final instalment considered against updated profit estimates
- Capital purchases put to use documented (depreciation eligibility)
- Related-party balances reconciled while memories are fresh
Immediately after
- Bank reconciliations completed for every account
- Receivables and payables confirmed for significant parties
- GST: books vs returns reconciliation; credit claims within cut-offs
- TDS: expense-wise deduction check before finalisation — disallowances live here
- Provisions and prepaids recorded against the standards
Then the season sequence
Finalisation → audits where applicable → ROC filings → ITR — each downstream deadline eased by the discipline above.
The meta-lesson
Businesses with monthly closes barely notice year-end. That is the goal state.
We run year-end closes and everything after — accounting · audit · book your close.
