The sole proprietor year end: what to do before 31 December
https://www.orbisaccounting.ca/guides/sole-proprietor-year-end-checklist-bc/


What the year end means for a sole proprietor

Before 31 December
[ ] Reconcile every business bank account and credit card to the latest statement
[ ] List every customer invoice still unpaid at 31 December: under the accrual method it is 2026 income
[ ] List every supplier bill still unpaid at 31 December: it is a 2026 expense
[ ] Count your stock on 31 December, unless you keep a perpetual inventory system
[ ] Gather the receipts for the year, and mark anything that was partly personal
[ ] List equipment, computers and vehicles bought this year, with the date each was first used
[ ] Bring the vehicle log and the home-office measurements up to date
[ ] Check whether a tax instalment is due on 15 December

Counting and valuing stock

What the return needs from the books

The dates for the 2026 year

How long to keep it

Questions people ask

Orbis Accounting Ltd. · Checklist only. See the guide for context.