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Whether you’re a sole trader, small business, or growing company, getting your books in order before 30 June is key to staying compliant, minimising tax, and setting yourself up for a strong new financial year.
At Finestream Accounting, we’re here to make the process simpler, clearer, and less stressful. So we’ve pulled together a practical EOFY checklist to help you wrap things up the right way and avoid any last-minute surprises.
Here’s your go-to EOFY checklist to help you finish the year strong and step into FY26 with confidence.
Talk through your tax planning and business goals before 30 June — and make sure you action the outcomes. A strategy without follow-through doesn’t move the needle.
Follow up on any invoices still unpaid and confirm you’ve paid your own suppliers. Keep cash flow clean going into the new year.
Now’s the time to double-check that everything balances. Review your P&L, balance sheet, and ensure all accounts are up to date.
Are you getting value for money across the board? Cancel what’s no longer relevant and think smart about recurring costs.
If you’re eligible for the instant asset write-off, think about any big-ticket purchases your business genuinely needs.
A 30 June stocktake helps keep your inventory accurate and ensures you’re not holding onto outdated or obsolete items.
Make sure you’re across all reporting requirements:
If you operate through a trust, ensure all resolutions are signed and align with your tax plan.
Make sure your accountant or advisor is registered with the Tax Practitioners Board (like us!).
What are you aiming for in the new financial year? Define your business goals and map out how you’ll track and achieve them.
A budget aligned with your goals is one of the most powerful tools in your business toolkit. It keeps you focused and in control.
