xBoox

Complete Year End Review

Review bookkeeping issues and record readiness before handing the books to an Accountant.

When a Year End Review action completes but the page cannot reload its latest state, xBoox reports the action as completed and asks you to refresh. Refresh before repeating the action so that you do not act on stale review information.

If Year End Review itself cannot load, xBoox shows the standard system error dialog rather than exposing an internal error code in the page. Select Try Again in the dialog or Retry on the page. If the problem continues, contact Support before completing year-end actions elsewhere.

What Year End Review is

Year End Review is a guided review workbench. It may show applicable checks for:

  • Transaction Review for bank transactions awaiting processing, grouped by active statement account;
  • Bank Reconciliation;
  • GST/HST;
  • Home Office;
  • Vehicle;
  • Rental Property;
  • Shareholder Loan;
  • Payroll;
  • Depreciation or CCA.

Items that do not apply to the Workspace are hidden. The path is navigation, not a forced wizard; review items in any order.

The review path uses simple 01, 02, and later step numbers. The selected item has a light purple background without a status icon. Needs Attention identifies an unresolved check, Review Recommended asks for manual judgment, and Completed means the automated check passed. Review Recommended uses orange-red text and Needs Attention uses red text. The selected item title and its status badge share one aligned heading. Year End Review no longer includes an Activity History panel; this does not delete saved audit records.

The page opens on 01 Transaction Review by default. If you select another review item and follow its link to Banking or Reconciliation History, the browser Back button returns to that same item in the selected review period.

Transaction Review

Transaction Review summarizes imported bank transactions for each active bank or credit-card statement account in the selected review period. It shows Pending, Posted, and Ignored counts for each account. Pending means the bank row still needs posting or matching; Posted includes a linked or matched row. Ignored rows remain visible for awareness, but do not prevent this check from being Completed. Only a nonzero Pending total makes the check Needs Attention.

Select a number to open that account's corresponding Bank Transactions tab. The destination shows all dates and does not highlight or filter individual transactions; the counts on Year End Review cover only the selected review period. A green zero means there is nothing to process in that status. This check does not inspect manually entered Expenses, Income, Transfers, ledger category choices, or whether a statement has been reconciled. Review reconciliation separately under Bank Reconciliation. Transaction Review updates automatically and has no Mark Reviewed action.

Review an item

  1. Open Accounting > Year End Review.
  2. Use Review Period to select the ended calendar or fiscal year you want to review. The date range appears below the selector.
  3. Select an item in the review path. Fiscal-year choices use a label such as FY2022 (2021-11-01 to 2022-10-31); sole proprietors retain calendar-year labels.

Transaction Review and Bank Reconciliation load compact summaries together. Other items show Check Now until selected; select one to run its current-record check. The selected item shows Checking… while the check loads, then Completed, Review Recommended, or Needs Attention according to the findings. Clicking an item does not itself mark it completed or acknowledge a manual review. Returning from a linked page preserves your selected review item. Recent results may be reused for up to one minute; relevant changes made in this browser invalidate them. Select Refresh to request current results, including after changes made elsewhere.

  1. Review its findings and required checks. A check with a detected issue identifies the account and evidence and links to the relevant Banking page.
  2. Follow the linked operational action when one is available.

The item status follows the current records; there is no separate manual Mark Reviewed action. The reminders guide your work and do not prevent you from marking the period ready or continuing bookkeeping.

Rental Property Review can also appear when a transaction uses a Rental Property account but has no property assigned. It flags pending assigned transactions, incomplete purchase-cost allocation, and missing recorded purchase details. Check the Rental Property Summary, confirm property assignments, distinguish mortgage principal from interest, and keep purchase or sale support for your accountant. xBoox cannot verify those documents automatically.

The GST/HST card shows GST/HST Collected or Collectible, Input Tax Credits (ITCs), and Net GST/HST for the selected review period, using the same calculation as the existing GST/HST report. Select a nonzero-activity collected-tax or ITC amount to open its transactions in GST/HST Detail. Net GST/HST is recorded tax less ITCs and excludes settlement payments or refunds. The card does not assess whether a return was filed with CRA or whether the tax treatment is correct; compare the amounts with your source records before a filing or handoff. When reportable activity exists, its status is Review Recommended; with none, it is Completed.

Payroll Review lists payroll expense and payable accounts that have activity or balances, including the opening balance, period change, and ending balance. Split transactions are reviewed by their posted account lines. Compare the ledger with payroll records for the relevant reporting year; xBoox does not calculate payroll deductions, prepare T4 slips, or decide that a payable balance is overdue.

Shareholder Loan Review shows the personal-paid source and Shareholder Loan account balances around the selected period. An existing transfer does not by itself mean the full year-end balance has been reviewed. Review any remaining activity before creating another transfer.

Depreciation / CCA Review uses a CAD 500 Computer, Tools & Equipment amount as a screening trigger only. It does not decide whether a purchase is a capital asset, determine its CCA class, or calculate depreciation or CCA.

Bank Reconciliation checks

For each applicable bank or credit-card account, Bank Reconciliation checks two things: whether a completed reconciliation covers the selected review period's end, and whether a completed result in that period has a saved difference. The compact table shows Account, Status, and Difference. Completed with a zero difference appears green. Pending, Pending confirmation, and nonzero differences appear red. If more than one result has a nonzero difference, the table shows the most recent one; open History to inspect all of them. A completed reconciliation whose saved difference is unavailable is not shown as a zero-difference pass. Select anywhere on an account row to open Reconciliation History for that account with the review period selected.

The required reconciliation follows the account's statement cycle. A bank account normally uses month end; a credit-card cycle may close after the selected period end, so the history range includes that closing date. Bank rows awaiting posting or matching belong to Transaction Review and are not counted again here. This summary does not assess statement-import completeness, older history continuity, or source-statement accuracy. If no applicable statement account exists, the Bank Reconciliation item is hidden.

Mark Ready for Accountant

Use Mark Ready for Accountant when you consider the selected period ready for handoff. Before the confirmation opens, xBoox checks the full review so the period and remaining review counts reflect all applicable items. Unresolved items do not prevent you from confirming the handoff marker. This creates a durable readiness status. If source records later change, the page says the earlier Ready marker needs another review; mark ready again after checking the changes.

It does not:

  • lock the period;
  • prevent later transaction changes;
  • create closing entries;
  • file GST/HST, payroll, or income tax;
  • guarantee that all tax treatment is correct.

Mark Ready for Accountant is also not a period lock. A later bookkeeping change may require another review even when the readiness marker remains in history.

Period behavior

  • Sole Proprietor uses ended calendar-year periods.
  • Corporation uses ended fiscal-year periods.
  • Balances and controlled actions use the selected period end date, not today's date.
  • The page defaults to the most recent ended period with activity, or the latest ended period if none has activity. Available periods begin with the first relevant banking opening-balance date, or with financial activity for manual tracking. Existing saved reviews remain selectable. A first partial year still uses its normal calendar or fiscal boundaries.
  • When you open an operational page from a review item, returning to Year End Review restores the selected period and item in the same browser session.

Vehicle limitation

Vehicle remains a dev working-paper and manual-review feature, not an automatic vehicle tax or journal-entry engine.

Vehicle review in dev

Each enabled expense group has its own calendar-year working paper. Saving is not confirmation of an adjustment. An Owner or a member with transaction-edit permission confirms either Reviewed - no adjustment needed or Reviewed - adjustment completed in Vehicle. The latter requires references to existing posted Journal Entries in the same Workspace and calendar year. Creating those entries still follows the Journal Entries permission rules.

After changing references, save and inspect the refreshed expense totals before confirming review: linked adjustments are excluded from the allocation base. Source expense or linked-entry changes require another review. Year End Review checks every applicable group rather than treating any saved paper as complete. For calendar-year periods, confirm the groups in Vehicle itself.

Vehicle remains partial: papers cover calendar years. For a fiscal period spanning two calendar years, Year End Review checks both years' papers. Review the fiscal-period coverage with your accountant. No vehicle save, review, or withdrawal creates or reverses a Journal Entry. Historical system-generated entries remain unchanged.