Year-end work is easier to organise when the records, responsibilities and timetable are clear. If you need support with annual or financial accounts, tell EPOS Accountancy what type of business you run, which period needs attention and who currently handles the work. We will confirm whether we can undertake the proposed engagement and which tasks it would cover.
Financial accounts bring information together for a defined accounting period. The required output depends on the business and the purpose of the accounts. Preparation, review, approval and filing are distinct responsibilities; none should be assumed from a general service description.
Define the output before the work begins
A proposed scope might cover reviewing the supplied bookkeeping, investigating agreed year-end balances, preparing specified accounts and discussing questions with the owner. If filing is required, the proposal must identify whether it is included, who approves the documents and who submits them. Tax returns and management reporting need their own explicit scope.
| Area to agree | Possible output | Your responsibility |
|---|---|---|
| Record review | List of missing information and queries | Supply records and explanations |
| Agreed year-end work | Specified adjustments and account schedules | Confirm relevant balances and business facts |
| Accounts preparation | Agreed financial statements | Review and approve where required |
| Filing coordination | Documented submission responsibility | Provide authorisation and approvals |
The quote should state the period covered and the basis of the work. An accounts preparation engagement does not automatically include an audit or assurance on the figures. If your requirements involve specialist reporting or assurance, raise that at the outset so suitability can be checked.
What you need to supply
We may need bookkeeping records, bank statements, loan information, customer and supplier balances, payroll summaries and details of business assets. Stock information and explanations of unusual transactions may also be relevant. The precise request depends on your business and the agreed work.
Tell us about changes during the period, including new borrowing, asset purchases or changes in ownership. Complete records and prompt responses help resolve questions; missing information can affect both scope and timing. You remain responsible for business information and the approvals assigned to you in the engagement.
A practical process
We first identify the accounts required and review the available records. After confirming suitability, we agree the work, fees and responsibilities. We then request the necessary information, raise queries and prepare the agreed outputs. Review, approval and any submission follow the process specified in the engagement.
How this works in practice
Imagine a small company whose bookkeeping is current but whose equipment purchases and loan balance need clarification at year end. An agreed accounts engagement could request the purchase documents and loan statement, reconcile the relevant information and prepare the specified schedules. The directors could then review the draft accounts before any authorised submission. This example illustrates a possible workflow, not a confirmed EPOS capability or client result.
Discuss your year-end requirements
Tell us your business type, the period involved and which tasks need support. We can confirm suitability and propose the next step.