Getting Tax-Ready

Your accountant or tax preparer needs a complete, reviewed Profit & Loss and Balance Sheet for the full tax year. Fynance gives you both, as long as the year is complete and nothing is pending.

1. Make sure the full year is covered. In Reports, select the year and Full Year. If you see "This report doesn't cover the full period", your history starts after January 1. Import the missing months first (see Importing Earlier History).
2. Clear every pending transaction for the year (see Managing Transactions). Pending items are not included in reports.
3. Check categories that matter for taxes, such as contractors (US Based vs. International), owner contributions and draws, and loans. See Categorizing Common Expenses.
4. Confirm the Balance Sheet. Total Liabilities + Equity must equal Total Assets, and bank balances must match your December statements.
5. Export the Profit & Loss and Balance Sheet for the full year as PDF and Excel.
6. Send the files to your accountant, or give them direct access with the bookkeeping role (see Giving Access to Your Accountant).

Do not file taxes with a report that shows the "doesn't cover the full period" warning. The amounts will be incomplete.

Fynance organizes your books; it does not replace tax advice. Share your reports with your accountant or tax preparer before you file.