Accounts closing Advisory – Fiscal year end 2025 26

Wishing each and every one a very delighted and wealthy new Fiscal Year 2026 – 27

As we all aware, fiscal year 2025 – 26 is fast approaching and here is our quick advisory for your reference and perusal:

  1. Get the balance confirmation from Banks / NBFCs (For current account as well as loan/OD/PC/CC and EEFC accounts).
  2. Get the balance confirmation for receivables.
  3. Get the balance confirmation for payables.
  4. Credit Card / Debit Card account reconciliation.
  5. E wallet account reconciliation.
  6. Ledger review.
  7. Re grouping / classification of expenses, if any.
  8. Updating the capital work in progress.
  9. Working and recording the depreciation Journal Entry.
  10. Recording all the expenses and incomes as per matching principle.
  11. Provision for expenses, incomes and TDS there on, if any.
  12. GST reconciliation for the year.
  13. Physical verification of stock / inventory.
  14. Fixed assets physical verification.
  15. MSME declaration to be obtained from all the vendors.
  16. Advance Tax Payment – 4th Installment (Due by 15th March 2026).
  17. Statutory schedules – TDS, eTDS, PF, PT, ESI and GST, etc.
  18. eTDS filing – Q4.
  19. Issuing form 16.
  20. Issuing form 16A (4th Quarter).
  21. Foreign currency Debtors and Creditors reinstatement.
  22. Recording foreign currency gain / loss JE.
  23. Annual filing and reconciliation of PT, PF, ESI and GST, etc.
  24. Preparation of Profit and Loss account & Balance Sheet schedules and tying the same with Trial Balance.
  25. As soon as the books of accounts are updated / reviewed and verified, please go ahead and prepare the financial statements as per the companies Act, 2013 and rules thereon.
  26. Audit for the fiscal year.
  27. Tax Audit and ITR filing.
  28. ROC filing.
  29. TP filing.

Thank you.

Courtesy: Team Tax Accounting

Ganashri Advisers India LLP | +91 94801 18310 | +91 83106 26652 |

 https://www.ganashri.com | cg@ganashri.com

Disclaimer

The information contained in this blog is provided for general guidance and informational purposes only. While efforts have been made to ensure the accuracy and timeliness of the deadlines, requirements and regulatory updates listed, laws and regulations are subject to change and may vary based on jurisdiction, industry, business constitution and specific circumstances.

This blog does not constitute legal, tax, accounting, or professional advice, nor should it be relied upon as a substitute for consultation with qualified advisors. Users are responsible for independently verifying all dates, obligations and compliance requirements applicable to their organization.

The team Ganashri assumes no responsibility or liability for any errors, omissions, or consequences resulting from the use of this blog.