What it is
The year-end close is a month-end close plus the items that only come once a year: the physical inventory, fixed asset and lease reviews, tax provision, equity rollforward, information returns, and preparing for the auditors.
This workbook schedules each task by business day after year end (dates calculate from the year-end date you enter), with owner, reviewer, status dropdowns and a progress summary.
When to use it
- Planning and running the fiscal year-end close.
- Agreeing the timetable with the auditors and the PBC list.
What’s inside
- Pre-close planning tasks and year-end cut-off
- Cash, receivables, inventory, fixed assets, leases, payables and accruals
- Debt, equity, revenue, payroll and income taxes
- Information returns (Forms 1099 / W-2) and audit preparation
- Due dates by business day, status dropdown and progress summary
Standard cited
This template follows Close process (accounting). It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
How is a year-end close different from a month-end close?
It adds annual items: physical inventory or cycle count true-up, impairment and lease reviews, the full income tax provision, equity rollforward, 1099 and W-2 preparation, and assembling the PBC items for the audit or review.
How long should a year-end close take?
It varies with size, complexity and how much of the work is done before year end. Set the target with the auditors and the team when you agree the timetable, and use the business-day column to track it.
Related templates
- Month-End Close Checklist (Excel)
- Trial Balance Template with Mapping (Excel)
- PBC List — Audit Request List (Excel)
Last updated 11/04/2026. All free templates.