1. Reconcile and Review Your Accounts

Make sure all your bank accounts, credit cards and loan accounts are reconciled and up to date. Accurate reconciliations ensure your balance sheet reflects the true financial position of your company. Review your director’s loan account, VAT returns and payroll journals to confirm that everything matches your records in accounting software such as Xero, QuickBooks or Sage.

2. Chase Outstanding Invoices and Manage Cash Flow

Strong cash flow management is essential as we head into the winter months. Review your aged debtors report and follow up on any unpaid invoices. Consider setting up automated reminders to encourage prompt payments. Maintaining consistent cash flow ensures you can meet PAYE, VAT and supplier obligations without disruption.

3. Review Expenses and Claim All Allowable Deductions

Now is the time to make sure your business expenses are correctly categorised and claimed. Don’t miss out on allowable deductions such as mileage, software subscriptions or equipment purchases. Check that all receipts are uploaded and matched in your accounting software to keep your expense records accurate.

4. Estimate Your Corporation Tax Liability Early

If your financial year-end is approaching, estimate your corporation tax to plan for upcoming payments. Reviewing your profit and loss statement now helps you manage any tax liabilities efficiently. This is also a great time to assess if there are legitimate tax-saving opportunities you can take advantage of before the year closes.

5. Check Fixed Assets and Depreciation

Your fixed asset register should always reflect the current position of your company’s assets. Review your register to ensure it’s up to date and that any new purchases made during the year have been correctly added and capitalised. This is also a good time to assess whether you plan any significant purchases before year-end, as the timing can affect tax planning opportunities. Keeping accurate records of fixed assets and depreciation ensures that your balance sheet and corporation tax calculations are precise and compliant.

6. VAT Return Accuracy

If your company is VAT registered, take time this month to review the accuracy of your VAT returns. Check previous submissions for any errors that can still be adjusted and ensure reverse charge entries have been treated correctly. Verify that all relevant transactions have been captured before your next VAT filing deadline. Reviewing your VAT records regularly helps maintain compliance and prevents issues with HMRC later on.

7. Plan for 2026 with Financial Insights

Use your management reports to reflect on your company’s performance this year. Are your business goals on track? Could better budget forecasting or cost control help you improve margins next year? Setting clear financial goals now ensures you start 2026 with clarity and confidence.

Why November Bookkeeping Matters for Limited Companies

For many directors, November is a turning point. Getting your books in order now means smoother year-end accounts, fewer errors and a faster accountant handover. It’s also the perfect time to work with a certified bookkeeper to streamline your processes and stay compliant with HMRC requirements.

Sounds Complicated?

It doesn’t have to be! Working with a bookkeeper is the best way to stay ahead and avoid stress later on. As a trusted bookkeeper in Wakefield, Lynda Stone Bookkeeping can help you through the process.

I work with individuals and businesses to ensure records are accurate, returns are submitted on time, and HMRC compliance is maintained.

📍 Based in Wakefield, I also work remotely with clients across the UK.