Finalization of Books of Accounts is the process of reviewing, adjusting, and closing all financial records at the end of an accounting period. It ensures that every transaction is accurately recorded, properly categorized, and reflects the true financial position of the business.

Documents Required for Finalization of Books of Accounts:

• Bank Statements - For reconciling all business transactions and verifying balances
• Sales and Purchase Invoices - To validate business income and expenses
• Ledger Account - Including general ledger, cash book, and subsidiary ledgers for accurate recordkeeping
• Trial Balance - Acts as the base for final accounts and identifies discrepancies
• Fixed Asset Register - Required for depreciation calculation and asset tracking
• TDS & GST Returns -Ensures statutory compliance and accurate tax liability reporting