Pharma Financial Year-End Checklist 2026: Key Stats & Compliance

3. Accounts Receivable & Payable Compliance

Accounts receivable and payable need close attention before year-end. Start by reviewing aging reports, especially amounts pending beyond 90 days. Clean up old receivables and confirm vendor balances match your records. At the same time, ensure GST input credits align with supplier filings to avoid claim issues. This step is critical because nearly 15 percent of receivables remain overdue, while 22 percent of payable problems come from mismatched vendor data. If left unchecked, these gaps can hurt cash flow and lead to tax credit rejections during audits.

4. GST, Tax Filing & Regulatory Compliance

GST and regulatory compliance need full attention before you close the year. Start by making sure all GST returns are filed accurately and on time. Double-check your tax calculations and confirm that all payments are correctly recorded. Keep your audit documents, tax records, and compliance certificates organized and easy to access. This step is critical because about 25 percent of firms face penalties due to late filings, while 18 percent struggle with missing documents during audits. Even a small delay or missing paper can lead to fines and unnecessary audit issues.