Accountant Natalie Lennon shares her top seven things that need to be done to wrap things up properly when closing a business. Seven things you must do before shutting down your businessClosing a business is rarely as simple as turning off the lights and walking away. Here are my top seven things that need to be done to wrap things up properly. You must process final pay runs, pay out accrued leave entitlements, calculate and pay termination payments, and ensure superannuation is paid correctly and on time. Cancel registrations in the correct orderOnce final lodgments are completed, you can cancel business registrations.