This is the final balance of your business bank account (s) of the year with closing. So in case we're taking about 2022, this is final balance on December 31st, 2022. You may have both a debit account (checking account) and a savings account. Do you work with Profit First? Then you even have multiple payment accounts.
Do you only use a (former) private bank account for business? Then you must also provide us with the final balance of this account.
During the declaration month of quarter 4, we ask you for additional information to close your financial year.
Income Tax: Annual Overview of Business Bank Accounts
When submitting your income tax return, we may ask for additional information about your bank accounts. An annual overview of your bank provides a complete overview of all your banking affairs. You will find all information about your checking and savings accounts, investments, loans and mortgages in a clear overview. At almost all banks you can easily download the overview as a PDF and use it for administration and tax returns. Fortunately, you do not have to do any more than send us this overview in the questionnaire for the Income Tax Return.