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Phoenix Year-End Close: 30-Day Plan for a Clean January

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As the year wraps up, business owners across Phoenix are preparing for one of the most important accounting cycles of the year: the year-end close. Whether you’re running a growing service company, a retail storefront, or managing multiple entities, closing out your books properly now sets you up for a smoother tax season, better financial visibility, and a stress-free January.

At Concierge Consulting & Accounting, PLLC, we work closely with Phoenix businesses to streamline year-end close processes, avoid costly errors, and ensure your financials are accurate and audit-ready. Here’s a practical 30-day plan to help your business finish strong and start the new year clean and compliant.

Why Year-End Close Matters

A complete and accurate year-end close isn’t just about tax prep—it’s about:

  • Ensuring your financial statements reflect the true state of your business
  • Catching errors or discrepancies before filing taxes
  • Maximizing deductions and planning for next year
  • Meeting lender or investor reporting requirements
  • Reducing risk during audits or financial reviews

In Phoenix’s fast-paced business environment, year-end planning helps you start January with clarity, not chaos.

The 30-Day Year-End Close Plan

Week 1: Prep and Review

  • Reconcile all bank, credit card, and loan accounts
  • Review your chart of accounts for accuracy and consistency
  • Collect and review all unpaid vendor bills and open invoices
  • Verify payroll totals and benefits (especially for S-Corps or owners)
  • Update W-9s and vendor records for 1099 prep

Phoenix tip: Don’t wait until tax season to gather W-9s—get them in before December 31.

Week 2: Clean and Adjust

  • Post all year-end journal entries (depreciation, loan interest, etc.)
  • Review fixed assets and retire any outdated items
  • Clear out old receivables and write off uncollectible balances
  • Ensure all reimbursements and employee expenses are posted
  • Reclassify any miscategorized transactions

Outsourced controller services can help here—especially if your internal team needs support adjusting entries or correcting errors.

Week 3: Reporting and Compliance

  • Run and review preliminary year-end financial reports
  • Compare budget vs. actuals to assess year-end performance
  • Identify any necessary accruals (bonuses, taxes, contractor payments)
  • Prepare 1099s and confirm vendor thresholds and classifications
  • Schedule time with your CPA for tax planning

Phoenix CPA tip: This is your last chance to make pre-year-end tax moves—like equipment purchases, retirement contributions, or income deferrals.

Week 4: Finalize and Roll Forward

  • Finalize year-end balance sheet and income statement
  • Backup your accounting data
  • Lock your books for the year (to prevent post-close changes)
  • Start your January books fresh with clean opening balances
  • Celebrate and prep for tax season

Avoid These Common Phoenix Year-End Mistakes

  • Waiting until January to close books
  • Filing 1099s late or with incorrect info
  • Missing out on deductions due to poor categorization
  • Failing to reconcile loans or credit cards
  • Overlooking Arizona-specific tax compliance (like TPT or use tax)

Concierge-Level CPA Support for Phoenix Businesses

We provide hands-on year-end close services for small and mid-sized businesses across Phoenix and the Valley. Our licensed CPAs offer:

  • Year-end bookkeeping cleanup
  • 1099 prep and filing
  • Tax planning and strategy
  • GAAP-compliant financial reporting
  • Outsourced CFO and controller services
  • Multi-entity and industry-specific close processes

We don’t just close your books—we help you understand your numbers and use them to grow your business in the new year.

FAQs: Year-End Close for Arizona Businesses

When should I start the year-end close process?

Start in December and aim to finish by mid-January. The earlier you begin, the better your position for accurate tax filings and planning.

What if I’m behind on bookkeeping?

We offer bookkeeping catch-up and cleanup services to get you back on track before tax deadlines hit.

Do you help with multi-entity close processes?

Yes—we specialize in consolidated reporting and complex close cycles for real estate groups, holding companies, and growing multi-location businesses.

Start January with Confidence

Don’t let disorganized books carry over into the new year. With professional CPA support, your Phoenix business can finish strong and face tax season with confidence.

📞Call today at (480) 372-2543 to schedule your free estimate!

Please call or email us for more information and questions.

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We have a Sun Devil in the house! We are honored to add to our team, Jo. She is a graduate of Arizona State University (Fear the Fork) and is looking to broaden her knowledge and understanding of business and accounting.

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Jo was previously an accountant for a $60M company and their 13 subsidiaries. She is in charge of our accounting and bookkeeping department and serves our clients on their time schedule. Whether it is weekly, monthly or quarterly she helps provide reliable, useful and accurate information to our clients on their terms.

Jo performs full accrual accounting and is responsible for reconciling all accounts, journal entries, month end closing procedures and preparation of internal financial statements and analytics. She also assists in the preparation of sales and payroll tax returns. She holds a wide range of knowledge, from QuickBooks to travel (she spent most of her life in the UK), she’s your girl. She is excited to join the CCA team and ready to conquer tax season head on!

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Dixie Cary

CPA and Tax Manager

Dixie is a Minnesota CPA and experienced accountant. She has over 25 years of accounting in both audit and tax, but her passion is tax. After years in the cold, she decided to leave the mid west and find a new home in Sunny Arizona. We are so happy that Dixie has joined our team.

Dixie leads and manages our entire tax department. She assists and leads a team through our busiest times while delivering quality, complete and accurate tax services for our clients. She is proficient in preparation, planning, and education of federal and state income taxes for individuals, businesses, estates, trusts, and exempt organizations.

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Theresa Elaine Valade

CPA and Managing Partner

Theresa Elaine Valade, CPA, is a highly accomplished Arizona-licensed Certified Public Accountant and founder of Concierge Consulting and Accounting, PLLC. Recognized by Forbes as one of the Top 10 CPAs in the state, she brings over 27 years of expertise in audits, reviews, compilations, tax strategy, business consulting, and fraud investigations, with specialized experience in nonprofits, real estate, hospitality, and financial services. A former Arthur Andersen auditor and tax partner at Moffitt & Company, Theresa has led high-profile engagements, including one of Arizona’s largest fraud investigations and IRS training audits, and frequently represents clients in mergers, acquisitions, and complex tax matters. Her firm consistently earns the highest peer review ratings, and she is a sought-after public speaker on tax reform, fraud prevention, and business operations. Committed to client success, Theresa combines technical excellence with a relationship-focused approach, guiding businesses and individuals through every stage of growth and transition.

Her areas of specialization are business consulting and advisory, audits, income tax planning and preparation, and IRS audit representation. Her industries of specialization are nonprofits, real estate, hospitality, franchises, mortgage banking and brokering, title insurance, escrow, health, and beauty.

Theresa’s also had the honor of being named 2020 CPA firm of the year for her commitment and service to her clients during the challenges imposed by the COVID-19 pandemic. Putting passion and personalization at the forefront Theresa has led her firm to excellence by not only providing measurable results for clients but making them feel well taken care of during times of great uncertainty.

Theresa is also a member of the prestigious, Arizona Society of CPAs, ASCPA, 100% Membership Club. It is an honor to be part of this club that exhibit’s a high level of commitment to the Arizona Society of CPAs. We are privileged to be able to convey to our clients, staff, and colleagues of Theresa’s significant commitment to the CPA profession. She is also a member of the American Institute of certified public accountants.

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