What should I settle before the year end accounts?
Settle six things before the year closes: invoices for goods already delivered, who still owes you, supplier bills, payroll deductions up to December, staff Borang EA by the end of February, and a list of what your accountant will ask for.
Invoices and money owed
Check every delivery or job from this year has an invoice. List who still owes you and chase them before the year turns, because old debts are harder to collect.
Supplier bills
Gather the bills you have not recorded yet, so the expenses land in the right year.
Payroll
EPF, SOCSO, EIS and PCB for December are due by the 15th of January. Staff need their Borang EA by the end of February.
Documents your accountant will ask for
Bank statements, sales and purchase lists, and the unpaid list. If they are already in one place, the closing is faster.
How Lucco Boss helps
It lists what is overdue, prepares the reminder for you to approve with reply 1, records bills from a photo, works out payroll, and your accountant logs in to see it all. No SQL or AutoCount link is needed for any of this.
Questions bosses ask
When should I start?
Start in November, not in the last week of December.
Does my accountant still do the closing?
Yes. This list gets the documents ready so the closing is shorter.
Updated · Lucco Technology
