Tax Filing Preparation
How to use dubbl reports to prepare for tax filing.
This guide explains how to use dubbl's reports and tax features to organize your financial data for tax season.
Disclaimer: Tax rules vary by jurisdiction and change frequently. This guide provides general workflow guidance. Always consult a qualified tax professional for filing advice. If you notice outdated information, please open an issue.
Before You Start
- Reconcile all bank accounts - Ensure your books match your bank statements for the full tax year
- Review open invoices and bills - Decide whether to include accrued amounts
- Categorize all transactions - Check for uncategorized entries that could affect your reports
Step 1: Generate Year-End Reports
Navigate to Reports and generate the following for your tax year:
Profit & Loss
Shows total revenue and expenses for the year. This is the primary report for most tax filings.
Balance Sheet
Shows your financial position at year-end. Useful for businesses that report assets and liabilities.
Tax Summary
Summarizes taxable income and deductible expenses by category.
Expense Analytics
Detailed breakdown of expenses, helpful for itemizing deductions.
Step 2: Use Tax-Specific Tools
Depending on your jurisdiction:
- US sole proprietors - Use the Schedule C Worksheet to map expenses to IRS categories
- UK/EU businesses - Generate a VAT Return for the final period
- Australian businesses - Complete the BAS for the final quarter
- US sellers - Review Sales Tax collected by jurisdiction
Step 3: Export Your Data
All reports can be exported for sharing with your accountant:
- Use the Export button on any report page
- Provide your accountant with read-only access via Settings > Advisors
Step 4: Close the Tax Period
After filing:
- Navigate to Tax > Periods
- Close the period for the filed year
- This locks transactions and prevents accidental modifications
Checklist
- All bank accounts reconciled
- All transactions categorized
- Profit & Loss report reviewed
- Tax-specific worksheets generated
- Data exported or shared with accountant
- Tax period closed after filing
Related
- Tax and Compliance - Tax features overview
- For Solopreneurs - Tax basics
- Solopreneur Setup - Initial setup guide