Closing the Books Right: Year-End Steps Every Alaska Business Should Take

As December approaches, Alaska business owners know year-end is more than just a deadline, it’s a chance to confirm financial accuracy, strengthen compliance, and set the stage for success in the new year. Closing the books properly ensures your records are complete, your team has reliable information, and you enter 2026 confident and organized.

At MCAC, we help Alaskan businesses streamline year-end processes every step of the way. Here are the key steps every business should take now:

1️⃣ Reconcile All Accounts

Make sure bank, credit card, loan, and payroll accounts are fully reconciled. Reconciling monthly prevents discrepancies, but year-end is the time to confirm everything balances.

2️⃣ Review Your Financial Statements

Pull a Profit & Loss statement, Balance Sheet, and Cash Flow report. These reports tell the story of your year and highlight areas where processes, spending, or efficiency could improve.

3️⃣ Organize Documentation

Receipts, invoices, contracts, and payroll records should be complete, clearly labeled, and easy to access. Well-organized documentation not only reduces stress but also demonstrates professionalism.

4️⃣ Confirm Payroll and Benefits Records

Verify that year-to-date payroll and benefits records are accurate. Clean payroll data now ensures employee records are correct and keeps year-end reporting straightforward.

5️⃣ Review Internal Controls

Year-end is an ideal checkpoint for reviewing approval processes, reconciliations, and role responsibilities. Updating controls regularly builds confidence and prevents oversights in the new year.

6️⃣ Plan for the Year Ahead

Closing the books isn’t just about wrapping up — it’s about setting the stage for 2026. Use the insights from your year-end review to set goals, adjust processes, and identify where outside support may add value.

How MCAC Helps

Our team at MCAC provides hands-on support to Alaska businesses during year-end close-outs. From reconciliations and reporting reviews to internal controls and operational planning, we help you finish strong and start the new year with clarity.

📞 Ready to close the books with confidence? Contact MCAC today — let’s make this your smoothest year-end yet.