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With the help of an inventory app that offers automation features like barcode and QR code scanning, these audits can be conducted accurately and in less time than ever before. Utilizing proven inventory audit best practices, physically count inventory wherever possible. Whether your business carries a little or a lot of inventory, an in-depth, accurate audit of physical inventory is a can’t-miss step on your list of end-of-year accounting responsibilities.

While this download highlights the most essential tasks your team should tackle every December, we’ve offered all the details about each action item below. To make matters even easier, we’ve created a Year-End Checklist for Small Businesses to keep you on track and organized. In this article, we’ll walk you through nine key touchpoints that belong at the very top of your business’s end-of-year to-do list. Every business faces a similar set of challenges at the end of the year: closing the books on the past twelve months while preparing for the calendar year ahead.