Year-end with Todah: what to give your accountant
A list of what your accountant usually asks for at year end, and exactly where each piece comes from in Todah.
At the end of your financial year, your accountant prepares your tax return and, for a corporation, your financial statements. The quicker you hand over complete records, the less you usually pay them. Here is what to gather from Todah.
Before you start
- Make sure every invoice you sent this year has left Draft, every bill is entered with its category and tax, and no bank line is left in Needs attention on the Banking screen.
- Check Settings → Books & Tax → Fiscal Year Starts In, so Fiscal YTD on the Reports screen covers your year.
- Make sure your opening balances are entered (Journal Entries), so the Balance Sheet balances.
Step by step
- Open Reports and type your year's first and last day in From and To, then choose Apply.
- In Export Format choose Full Report Pack (Excel), then Export. This gives the P&L summary, a month-by-month P&L, every cost of sales and overhead line, and the bank ledger.
- Choose Sales Tax, pick Excel, and choose Export, for the GST/HST figures by tax and by CRA line. Do the same for each return period you filed, if your accountant wants them separately.
- Choose By Client and Vendor and export it, for income per client and spending per supplier.
- Choose Balance Sheet, set As At to the last day of your year, and export it as Excel or PDF. Do the same for Trial Balance.
- Choose Ageing and export it on the last day of your year (Ageing lists what is unpaid on the day you look).
- As an owner or admin, go to Settings → Account & Security and choose Export All Data for a zip of every record as CSV files.
- Send your accountant the files, or invite them to your workspace so they can look for themselves.
- When your accountant sends their year-end adjustments, enter each one in Journal Entries, dated the last day of the year.
What each piece is for
| Full report pack | Your income and expenses for the year: the starting point of your tax return. |
|---|---|
| Sales tax export | To check your GST/HST returns against your books. |
| Ageing (receivables and payables) | Who owed you and whom you owed at year end; used to check the balance sheet and spot bad debts. |
| Balance Sheet and Trial Balance as at year end | The year-end position, ready for your accountant to check and adjust. |
| Export All Data | The raw records behind every report, if your accountant wants to test them. |
| Invoice and bill PDFs and attachments | Proof of individual sales and costs. Download PDF on any invoice; receipts and bills you attached stay on each record. |
Good to know: Report exports come with Business and Enterprise. On Free, every report can be read on screen, your accountant can be invited to look, and Export All Data works on every plan.
Tip: Ask your accountant for their year-end adjustments (depreciation, accruals) as a list of accounts with debits and credits. Each becomes one journal entry.
See also
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