End of Financial Year Check List

As the end of financial year approaches (yes, only a few days left!), there are certain tasks that must be completed to close the old year and get ready for the new one.

The following list will help you make sure you ticked all the boxes and are ready to start fresh.

  • Reconcile all accounts (this includes petty cash, bank accounts, and everything else you might have)
  • Review you Balance Sheet & assets register
  • For those who have employees, reconcile PAYGW, Superannuation and Payroll Clearing
  • Prepare STP (single touch payroll) Finalisation
  • Reconcile loans and intercompany loans (if any)
  • Reconcile Inventories
  • Distribute Profit from the business (not for sole trader)
  • Review reports and adjustments
  • Enter year end adjustments
  • Contact your accountant for the Company Tax Return (or individual tax return for sole traders)

Reach out if you need help!

North Brisbane Bookkeeping

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