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End of Financial Year Checklist |
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- Compile a list of debtors (customers that owe you money) at the 30 June.
- Compile a list of creditors (suppliers that owe you money) at the 30 June.
- A stock take may need to be performed on 30 June at cost price.
- Enter all data into your bookkeeping system up to 30 June.
- Complete and print a bank reconciliation at 30 June.
- Backup, rollover and lock the accounting period in your bookkeeping software.
- Compile a list of all business expenses paid from personal accounts.
- Wages will need to be finalised and a detailed summary completed.
- Provide all employees with PAYG summaries by 14 July.
- Complete an ATO PAYG reconciliation. This will need to be submitted by 14 August.
- Ensure you have all business loan statements for the period under review.
- If you are required to keep a logbook you must begin on 30 June at the latest.
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