Key Takeaways
- A consistent monthly routine prevents year-end chaos
- Reconciliation and VAT review are the core monthly tasks
- Organised documents keep the business audit-ready
The difference between a stressful year-end and a smooth one is a simple monthly habit. This checklist gives Sharjah SMEs a repeatable routine that keeps records accurate, VAT correct, and audits painless.
Record and reconcile
- Enter all sales invoices and purchase bills
- Capture and categorise expenses with receipts
- Reconcile every bank and cash account to the ledger
- Record payroll and any owner drawings
Review VAT and receivables
- Check output and input VAT for the period
- Confirm supplier invoices are VAT-compliant for recovery
- Review aged receivables and follow up overdue accounts
- Confirm you remain within or above the VAT threshold
File and prepare
Archive digital copies of invoices, contracts, and bank statements for the five-year retention requirement, and note any items your accountant should review for corporate tax. A tidy monthly close means the annual audit and tax return are quick and stress-free.
