What is a Year-End Financial Package?
When your 2023 books are complete, you’ll get a tidy annual financial package that is IRS compliant and ready for income tax filing.
- This is the point at which your data is ready for you or your tax professional to prepare your income tax return. It includes reports such as Income Statement, Balance Sheet, General Ledger, and Trial Balance.
- Your bookkeeper will make all the other meticulous and time-consuming adjustments that the IRS requires, including adjusting for loans, all remaining merchant and payroll adjustments, plus more.
- The information in your year end financial statements has the highest fidelity and accuracy so that you can confidently file with the IRS.
How do I access my Year-End Financial Package?
- To access your Year End Financials when they are ready, go to ‘Documents’ from the ‘My Books’ menu item
- Scroll down to ‘Processed Documents’ and select the ‘Tax’ folder
- Download your Year End Financials
What if my 2023 Year-End Financial Package is not there?
If your year end financial package is not there, the best thing to do is check the status of your 2023 books on the Overview page.
If your books show that your input is needed for any month in 2023, your bookkeeping team is waiting on additional information from you in order to accurately close your books and prepare your year-end package. They cannot move forward until you provide them with the requested information or inputs, as it will compromise their ability to close your books with total accuracy.
If your input is required, you can see what’s needed from you by checking your notifications in the Bench app by clicking the bell icon in the top right corner of your screen. You’ll be guided to the correct areas where your input is needed in order to complete your 2023 books.