2026 Year-End Close Checklist for Finance Managers
A year-end close list for 2026 by area, from physical counts to tax reconciliation, plus the rule changes that belong in this year's statements.
Key points
- Physical counts and balance confirmations are easiest to schedule before December ends.
- Account mapping for PSAK 118 and employee benefit assumptions are part of this year's close.
This list is set out by area so it can be assigned to owners. Copy it into a worksheet, add columns for name and completion date, and review it weekly until the statements are done.
Before 31 December
| Area | Work | Record kept |
|---|---|---|
| Inventory | Schedule the physical count and set receiving and dispatch cut-offs | Count instructions, count sheets |
| Fixed assets | Match asset cards to the general ledger, mark assets no longer used | Asset list by location |
| Receivables | Prepare the ageing and send confirmation requests | Ageing list, confirmation letters |
| Contracts | List loan, lease and labour supply agreements | Summary of terms and ratios |
| Management | Check management terms and data in the AHU system | List by entity |
At the balance sheet date
| Area | Work | Record kept |
|---|---|---|
| Cash and bank | Count cash, obtain statements and balance confirmations | Cash count record, bank reconciliation |
| Inventory | Carry out the count as instructed | Signed count sheets |
| Cut-off | Record the last receiving and dispatch document numbers | Cut-off document list |
January to February 2027
| Area | Work | Record kept |
|---|---|---|
| Receivables | Calculate the allowance from the ageing | Allowance working paper |
| Fixed assets | Test depreciation and impairment | Depreciation working paper |
| Payables | Accrue expenses and match supplier balances | Supplier reconciliation |
| Employee benefits | Ask the actuary to assess assumptions after Law 27/2026 | Actuarial report |
| Tax | Match VAT, withholding tax and the fiscal reconciliation | Reconciliation by tax type |
| Ratios | Calculate loan covenant ratios from draft figures | Ratio calculation |
New this year
Three items belong in the plan. Account mapping for PSAK 118 is done on the 2026 books, because those figures become the comparatives for 2027.
Law 27 of 2026 affects employee benefit assumptions, fixed-term contracts and the 2027 budget. Companies with labour supply contracts should match them against the four supporting services in that Law.
Business groups should check inactive corporation status, as blocked access can hold up annual report filing through SABH.
What owners and CFOs should look at
Three figures give an early picture: the reconciled cash balance, receivables over one year old, and loan covenant ratios. If any of them is not available by the end of January, the audit schedule usually slips too.
Frequently asked questions
When should this work start?
November, because scheduling physical counts and confirmation requests needs to be done before the balance sheet date.