The short answer
Confirm the entity's reporting requirements, then request year-end evidence by balance. Reconcile opening and closing figures before assembling the final report set. Keep preparation, specialist review, management approval and registry submission as separate milestones, each supported by the correct version and evidence.
Confirm the reporting scope first
Record the financial year, legal form, applicable accounting framework and reporting requirements. Confirm whether an audit or other additional work is required before reserving review time. Do not reuse another client's report set simply because both are small companies.
For Lithuanian requirements, use current official guidance. Registrų centras explains annual-account submission, including the general rule linked to approval, subject to statutory exceptions. Check the approval and submission timetable for the actual entity; a tax-return date is not an annual-accounts approval date. Source reviewed through search on 6 October 2026; recheck the current page before setting a client deadline.
Request evidence by balance
Year-end evidence worksheet
| Area | Request | Review question |
|---|---|---|
| Bank and payment providers | Statements covering year-end for every account | Can each closing balance be reconciled? |
| Receivables / payables | Aged lists, disputes and subsequent settlements | Which balances need investigation? |
| Inventory | Count results, differences and valuation information | What supports quantity and value? |
| Fixed assets | Additions, disposals and relevant supporting documents | Does the register explain the ledger? |
| Loans and leases | Agreements and balance schedules | Are principal, interest and terms identified? |
| Payroll and taxes | Reconciliations and payment records | Are control balances explained? |
| Other commitments | Relevant contracts and management information | Is further assessment or disclosure needed? |
Ask management for the information only it can confirm: disputes, commitments, changes after year-end and assumptions behind estimates. A signed checklist is helpful but does not replace evidence or the accountant's review. Keep estimates and the basis for them visible.
Prepare schedules before polishing the report
Reconcile opening balances to the prior approved accounts. Explain each material closing balance and record adjustments with support. Review period cut-off and outstanding questions before assembling the final report. If a disclosure depends on a contract that has not arrived, put the dependency on the work plan.
For example, a fictional company's loan balance differs from the lender statement because an instalment was posted entirely to principal. Review the agreement and split the components correctly in the ledger with approval. Do not insert a balancing number only in the accounts workbook; the source and final reports must remain reconcilable.
Separate review, approval and submission
Annual accounts handoff
Annual accounts handoff
- Opening balances agree to the prior approved set.
- Closing balances have reconciliations and supporting evidence.
- Adjustments and estimates have named reviewers.
- Unresolved items are assessed and assigned.
- The final report set is appropriate to the entity and period.
- Management approval and any required audit are recorded.
- The authorised submitter has the correct approved version.
- Registry acknowledgement is saved separately from approval.
A focused year-end request
A focused year-end request
Subject{client}: evidence needed for {year} accounts
Hello {name}, to prepare the {year} accounts we still need: {items with balance and period}. Please send these through {agreed channel} by {date}. Please tell us who will confirm stock-count results, estimates and any significant events after year-end. We will send the reviewed report set for the required approval separately.
Leave next year a readable record
Carry unresolved items into next year's work with the decision, owner and follow-up date. Save the final ledger export, schedules and approved report version together. Delete neither earlier support nor a changed estimate's explanation merely because a cleaner final file exists.
Use the annual work calendar to reserve milestones and the month-end close checklist to reduce the reconciliation work left to year-end. The worksheet is an operational aid; entity-specific accounting and legal judgements still need the responsible specialist.
Questions
It reduces preparation, but year-end still needs review of balances, estimates, period cut-off, reporting requirements and approval.
Define preparation, review, approval and submission as separate stages. Close each with its own evidence rather than treating a draft report as the final result.
About this article
Author: Claister
Published by Claister, the company building the accounting practice management software discussed on this website.
Design partner: Natalija Miadzelic
Tax review: Natalija Miadzelic · Accountant · Approved
Consulting an official source is separate from a qualified review of how a rule applies to a particular client.
Editorial policySources cited in this article
- Registrų centras explains annual-account submissionSearch result consulted ·
Dates below describe recorded source consultation, not professional approval. Sources without a recorded date are listed without one.
Accounting processes: monthly work to annual accounts
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