Year-end package checklist: what to send your accountant for your corporation

The cheapest year end is the one where the accountant receives everything at once, reconciled and labelled: full-year bank and card statements, reconciled books, lists of what customers and suppliers owed at year end, asset purchases and sales, payroll and dividend details, shareholder loan activity, CRA letters and last year's statements. Each missing item creates questions, and questions are billed. A fixed year-end quote almost always assumes a complete package, so a good checklist is the most direct way to keep the fee at the quoted amount.

This guide is part of the annual accounting cost estimate guide. You can tick items off in the interactive year-end package checklist.

The checklist with reasons

Bank, cards and loans

Item	Why the accountant needs it
Statements for every bank and credit card account, full year plus the first month after year end	To confirm balances and catch cheques and payments that cleared after year end
Reconciliations in your software matching each statement	Unreconciled accounts are the single most common source of extra hours
Loan, line of credit and lease statements	To split payments into interest and principal and confirm the year-end balance
Statements for payment processors and online marketplaces	To gross up sales, record fees and match payouts

Sales and customers

A list of unpaid customer invoices at year end (accounts receivable), with any you believe are uncollectible flagged
Deposits or prepayments received for work not yet done
A sales tax summary matching the GST/HST (and QST) returns filed for the year

Expenses and suppliers

Unpaid supplier bills at year end (accounts payable), including bills dated after year end that relate to the year
Business expenses paid personally by the owner, with receipts
Receipts for significant purchases showing the supplier's GST/HST registration number where you claimed an input tax credit
Prepaid expenses, such as an annual insurance premium or software paid in advance

Assets and inventory

Invoices for equipment, vehicles, computers and leasehold improvements purchased, and details of anything sold, scrapped or traded in
A vehicle logbook if a vehicle is used for both business and personal driving
A year-end inventory count with costs, if you hold stock

Payroll, owners and dividends

Year-end payroll summary, T4 slips (and RL-1 in Quebec) and remittance records
Dividends declared and paid, with dates, amounts and type, plus T5 slips (and RL-3 in Quebec) if already issued
All money the owner put into or took out of the corporation that was not salary or dividend: the shareholder loan activity. See shareholder loans and personal expenses.

Corporate and tax records

Minute book changes: new shareholders, share transfers, directors, resolutions declaring dividends or bonuses
CRA and Revenu Québec letters: notices of assessment, instalment reminders, review requests
Last year's financial statements and T2, if the accountant is new
Information about related or associated corporations, and anything unusual such as a lawsuit, grant or insurance claim

How missing items become extra fees: illustrative example

An illustrative firm quotes a fixed $2,400 for a compilation and T2, based on a complete package. Its out-of-scope rate is $120 an hour.

Problem	Extra hours	Extra fee
Two credit card accounts not reconciled	3	$360
No list of unpaid customer invoices	1	$120
Owner withdrawals not recorded; shareholder loan rebuilt from bank statements	4	$480
Vehicle purchase invoice missing	0.5	$60
Total extra	8.5	$1,020

8.5 x $120 = $1,020, so the year end costs $3,420 instead of $2,400, about 43% more. Every line was avoidable with the checklist.

Timing: when to start

One month before year end: reconcile everything up to date, plan any asset purchases, ask your accountant about dividends or bonuses before the year closes.
Year end: count inventory, note unpaid bills and invoices.
Within the firm's deadline: send the full package. Firms often need records several weeks before the T2 deadline, and earlier still if tax is due on a two- or three-month balance-due day. See the 2026 filing calendar.
After the draft: answer questions in one batch, review the draft statements and approve.

How to send it

Use one shared folder with sub-folders by checklist group.
Name files by account and month, for example "Operating account 2026-03".
Add a covering note listing anything not applicable and anything unusual.
Do not send originals you need; the CRA requires you to keep records for six years from the end of the last tax year they relate to.

When the package will not be enough

If the books have not been kept for several months, the year end becomes a catch-up project. Price it separately using the catch-up bookkeeping guide and agree the scope before the firm starts.

Missing items are the most common trigger in the engagement letter guide, and if you want to spend less time assembling the package each year, see the automation payback example.

Frequently asked questions

Does my accountant need personal bank statements?

Only where business expenses were paid personally or where the corporation's money moved through a personal account. Keeping those separate saves time and questions.

Is a photo of a receipt good enough?

Generally yes, if it is legible and complete, including the supplier's GST/HST number where you claim an input tax credit. Check the CRA's guidance on electronic records.

Can I send the package before year end?

You can send most items, but the year-end balances and the statements for the last month are needed before the accountant can finish.

Sources

Canada Revenue Agency — keeping records, input tax credit documentation and T2 requirements
Revenu Québec — Quebec slips and records
Corporations Canada — corporate records and minute book obligations for federal corporations