A Practical Year-End Close Checklist for Cambodian Finance Teams

Before the cut-off

Confirm cut-off procedures with sales and procurement. Make sure goods received but not invoiced are accrued, and revenue earned but not invoiced is recorded.

Balance sheet

Reconcile every bank account, confirm intercompany balances, retranslate foreign-currency monetary items at the MEF year-end rate, and verify fixed-asset additions and disposals against the register.

Income statement

Review unusual journal entries above a defined threshold, ensure depreciation has been posted for every full period, and reclassify any prepayments and accruals.

Tax

Reconcile VAT control accounts to filed returns, confirm withholding tax has been remitted, and prepare the deferred-tax computation.

How to Verify the MEF Rate for Your Filing

Whether you are posting a USD invoice, computing month-end FX revaluation, or preparing a customs declaration, the rule is the same: anchor your figure to the official MEF daily bulletin for the relevant valuation date. Use today's official MEF rate from the Cambodia Exchange dashboard for live work, or pick any past date to retrieve the exact rate that applied on that day. Archive the rate evidence (a screenshot or API response) alongside the supporting document — GDT auditors increasingly request the source for every FX translation.

For the full data-handling disclosure — including caching, timezone normalization to Indochina Time, and how weekend/holiday fallbacks work — see our data methodology. For binding tax or customs positions, cross-check against the MEF bulletin directly and consult a licensed Cambodian tax advisor.

Frequently Asked Questions

What is the single most important year-end task in Cambodia?

Reconciling every foreign-currency balance to the MEF closing rate for the reporting date. Errors here flow into the tax return and the audited financials, and they are the most common source of adjustments.

When should I start the year-end close process?

Start the preparation work — sub-ledger clean-up, cut-off review, intercompany confirmations — at least four weeks before the period end. The actual close is then far less painful.

How long should year-end documentation be retained?

Follow the longest applicable retention period among Cambodian tax law, your auditor's requirements, and any group policies. For most entities this means several years of fully archived support, including FX rate evidence.

អត្ថបទនេះមានប្រយោជន៍មែនទេ? ចែករំលែកជាមួយក្រុមរបស់អ្នក ឬ ផ្ញើមតិមកយើង។