The exact information required depends on the business and the purpose of the work. The following categories provide a practical starting point for an initial records review.
Bank, cash and financing records.
Provide complete bank statements for business accounts, cash summaries, loan statements, credit-card statements and details of owner contributions or drawings. Identify transfers between accounts so they are not mistaken for income or expenses.
Income, expenses and amounts outstanding.
Organise sales records, invoices, receipts, supplier bills and payment evidence. Include lists of customers who owe the business and suppliers the business still owes at the reporting date.
Assets, inventory and payroll.
Include information on vehicles, equipment and other assets purchased or disposed of, together with inventory records where relevant. Employers should also provide payroll summaries and supporting statutory records.
A tidy spreadsheet cannot replace missing bank statements, unsupported balances or unexplained transactions.
Prior filings and official correspondence.
Keep previous tax returns, VAT records, notices, payment receipts and correspondence from the relevant authorities. For tax-clearance work, the accountant may need to review filing and payment status before advising on the next step.
Allow time for questions.
Financial statements and clearance-related work often require follow-up. Providing records early allows questions to be answered before a bank, authority or other deadline becomes urgent.
Official references
Saint Lucia Inland Revenue DepartmentGovernment of Saint Lucia: Inland Revenue DepartmentNeed financial statements or clearance support?
Start with an initial review of the records available and the purpose of the request.
Request an Initial ReviewStart with the Financial Records Readiness Checklist.