Close the year cleanly, keep reviewers aligned, and hand tax teams books they can trust.
Let AI Agent run your year end close
Clean Accruals
Clean up last year's accruals and prepaids for the selected client in QuickBooks Online. Walk every open accrual, deferred revenue line, and prepaid expense booked during the closed year, and propose true-up entries against actual invoices, payments, and contracts. Apply the firm's GAAP policy and the recurring adjustments we made the prior year. If a balance sits above the client's materiality threshold without supporting documentation, do not adjust it, flag for review. Ask me for the client's materiality threshold and the prior-year accrual policy if they are not saved. Pause before posting any journal entry. Send a Slack digest with proposed adjustments, exceptions, and variances vs the prior year-end balance.
Prepare Workpapers
Prepare audit workpapers for the external auditor for the closed year in NetSuite. Build the standard tie-out pack: trial balance, lead sheets by account class, top revenue and expense schedules, AR and AP aging at year-end, fixed asset roll-forward, debt schedule, and a list of significant journal entries posted during close. Pull supporting files from Google Drive when contracts or memos already live there. If a tie-out variance exceeds the firm's threshold, do not paper over it, mark it as an open item with reconciling notes. Ask me where the auditor expects the final workpaper bundle delivered and the auditor's request list if it is shared. Pause before sending anything to the auditor. Save the draft to Google Drive and return a Slack summary with completed workpapers, open tie-outs, and pending requests.
Build Tax Packets
Build 1099 and K-1 tax form packets for the closed year in Sage Intacct. For 1099-NEC, pull non-employee compensation by vendor against the IRS $600 reporting threshold, validate W-9 status, taxpayer identification number (TIN), and address, and isolate vendors missing documentation. For K-1, prepare partner allocations from the trial balance and the partnership agreement on file. If a vendor's TIN is missing or fails IRS TIN matching, do not include the vendor in the e-file batch, flag for outreach. Ask me which CPA reviews the K-1 allocations and the firm's deadline for 1099 client sign-off. Pause before transmitting anything to the IRS or to recipients. Send a Slack digest with packet status, blocked vendors, and partner-allocation review questions.
Lock GL
Lock the general ledger for the closed year in Xero once year-end adjustments are approved. Confirm that all closing entries, retained-earnings roll, and tax provision entries are posted, that the trial balance ties to the audit workpapers, and that no draft journal entries remain. If you find pending entries, open reconciling items, or accounts out of balance, do not lock, mark them for review. Ask me whether any client requires a special open period for late post-close adjustments. Pause before applying the lock. The lock is irreversible without a formal reopen, no GL lock without explicit approval. Send a Slack confirmation with closing-entry status, open exceptions, and the lock timestamp.
Up to 80% Lower Cost to Serve
Year-end close concentrates repeat work the firm performs for every client: accrual cleanup, audit prep tie-outs, 1099 e-file prep, GL lock. Moving that repeat work into supervised agent runs without changing who approves the close drives Minded's positioning of up to 80% lower cost to serve.
End-to-End Year-End Close Without the Hand-Offs
Most year-end work today bounces between the ERP, audit-prep templates, 1099 software, and a tax engine. An AI bookkeeper should run accrual cleanup, audit workpaper prep, 1099 and K-1 packets, and the final GL lock as one controlled workflow. For the monthly cadence that feeds it, see month-end close with AI and accruals automation with AI.
Year-End Close That Learns Your Firm's GAAP Policy
Generic close templates break when one client uses ASC 606 differently from another, or when a partnership has its own K-1 allocation method. Year-end close that learns your firm's GAAP policy should remember corrections per client books, accrual triggers, materiality, atypical entries, recurring tax provisions, and apply them with prior-year context.
How can an AI bookkeeper support the year end close process?
Minded helps the close lead track entity-level tasks, review accruals, prepare workpapers, route exceptions, and document adjustments before CPA review. It keeps the annual close organized across client books so outsourced controller teams can focus on judgment, signoffs, and client communication.
Can Minded help with accrual cleanup and prepaid schedules under GAAP?
Yes. Minded can review prior-year accruals, prepaid balances, recurring entries, and supporting documentation against your firm’s close checklist. It helps surface stale items, missing support, and entries that need controller review before financial statements or tax work are finalized.
What audit prep does Minded produce for external auditors?
Minded can assemble audit prep workpapers, supporting schedules, reconciliations, variance notes, and links to source documents. It also helps maintain an audit log of close activity, reviewer comments, and completed steps so the external auditor receives a cleaner, more traceable package.
How does Minded support 1099 reporting and K-1 tax form support?
Minded can help identify vendors, missing taxpayer details, payment classifications, partner allocation support, and entity documents needed for 1099 reporting and K-1 preparation. It organizes packets for tax teams, flags gaps, and keeps supporting files tied back to the relevant client ledger.
Which accounting systems can Minded work with before GL lock?
Minded supports close workflows across QuickBooks Online, Xero, NetSuite, Sage Intacct, and Zoho Books. Before GL lock, it helps verify reconciliations, open adjustments, review notes, and required approvals so the closed year is ready for CPA review, audit, and return preparation.