End of Financial Year Is Coming — Your EOFY Prep Checklist

Name: Hunter Valley Bookkeeping & Admin
Address: Maitland, NSW

Lauren Gallie
17 hours ago
5 min read

By Hunter Valley Bookkeeping & Admin | Bookkeeping Tips | Payroll & Super

June 30 has a funny way of arriving faster than anyone expects. One minute it's March, and the next you're staring down the barrel of EOFY with a to-do list the length of your arm.

The good news? If you start preparing now, the end of financial year doesn't have to be a drama. In fact, with the right habits in place, it can actually feel like a clean and satisfying wrap-up to your year — and a fresh start to the next one.

Here's your practical EOFY checklist, covering everything in a registered BAS agent's toolkit to help you finish the year well.

BOOKKEEPING & RECORDS

Reconcile everything

Make sure your bank accounts, credit cards, and loan accounts are fully reconciled up to 30 June. Unreconciled transactions are the single biggest source of errors at EOFY. If you're behind, now is the time to get caught up — or call us.

Review your GST coding

Cast an eye over your transactions for the year and check that GST has been coded correctly. Common culprits include bank fees (input-taxed), insurance (taxable), and purchases from suppliers who aren't registered for GST. Errors here flow directly into your BAS figures.

Chase outstanding invoices

If customers owe you money, EOFY is a great prompt to follow up. It's also worth reviewing any invoices that are unlikely to be paid — your accountant can advise on whether bad debts can be written off and what that means for your income tax return.

Organise your receipts and records

The ATO requires you to keep business records for five years. Make sure your invoices, receipts, and supporting documents are stored somewhere logical — ideally digitally. Xero, Hubdoc, and Dext are great tools for this. A shoebox under the desk doesn't count.

PAYROLL

Review your payroll for accuracy

Before you finalise anything, check that all pay runs for the year have been processed correctly. Look for missed pays, incorrect leave accruals, or any manual adjustments that weren't reconciled back to the general ledger. Payroll errors that compound across a full year are much harder to unwind in August than they are in June.

Process any final pays before 30 June

Bonuses, commissions, or any final payments you want included in this financial year need to be processed before 30 June. Don't leave this until 29 June — last-minute pay runs create mistakes.

Complete your STP Finalisation by 14 July

Under Single Touch Payroll, you must finalise your employees' income information by 14 July 2026.

This marks their income statements as "Tax Ready" in myGov so they can lodge their personal tax returns. Make sure your payroll data is accurate before you hit that finalise button — once it's done, amendments require a little more effort.

Don't forget to include all relevant items: gross wages, allowances, PAYG withholding, reportable fringe benefits (if applicable), and reportable employer super contributions.

SUPERANNUATION

Make sure your super is paid and cleared before 30 June

This is a big one. Super contributions are only deductible in the year they're actually received by the super fund — not the date you initiated the payment. Super paid through a clearing house can take several business days to clear, so aim to have it submitted by 20–23 June at the latest to ensure it lands before 30 June.

Check your super rate is correct

The Super Guarantee rate is currently 12% for the 2025–26 financial year.

Heads up: Payday Super is coming From 1 July 2026

The way super is paid is changing significantly. Under the new Payday Super rules, employers will be required to pay super at the same time as wages, rather than quarterly. This is a major change that will affect payroll processes, cash flow, and compliance obligations. We'll be writing a dedicated post on this soon — watch this space.

Note on the ATO Small Business Superannuation Clearing House

The ATO's free clearing house is closing. If you currently use it, you'll need to transition to an alternative before it shuts down. Speak to us or your super fund about your options.

BAS & ATO OBLIGATIONS

Lodge your Q4 BAS

Your June quarter BAS (Q4 2025–26) is due on 28 July 2026. If you lodge through us as your registered BAS agent, you may have access to an extended due date — check with us directly.

Check for any outstanding BAS or IAS lodgements

EOFY is a good time to make sure there are no outstanding activity statements from earlier in the year. Unfinalised lodgements can hold things up for you and your accountant.

Review your PAYG withholding obligations

Make sure all PAYG withholding has been correctly reported throughout the year. This is particularly important if you've had new employees start, or if there have been any changes to employee circumstances.

HANDING OVER TO YOUR ACCOUNTANT

Once the BAS and payroll side of things is wrapped up, your accountant will take over to prepare your income tax return, review deductions, and handle the income tax side of EOFY. The cleaner and more up-to-date your books are when they receive your file, the smoother (and often cheaper) that process will be.

A good tip: book your accountant appointment early. June and July are their busiest months, and the earlier you engage them, the more time they have to do their best work for you.

A Note on What We Handle vs. What Your Accountant Handles

As a registered BAS agent, our EOFY focus is on the areas above — bookkeeping accuracy, payroll finalisation, super compliance, BAS lodgements, and making sure your file is clean and ready to hand over.

We don't prepare income tax returns or advise on income tax strategy — that's your accountant's territory, and it's important to have both bases covered.

If you don't currently have an accountant and need a recommendation, just ask — we're happy to point you in the right direction.

Don't Leave It All to the Last Week

We say this every year, and every year we mean it: EOFY is so much less stressful when you start preparing in early June rather than on 28 June.

If your books need a tidy-up, your payroll needs reviewing, or you're just not sure where to start, reach out now. We'd love to help you finish the year in great shape — and set you up for an even better one ahead.

Hunter Valley Bookkeeping & Admin is a registered BAS agent (No. 26330775) based in Maitland, NSW.

We help small businesses across the Hunter Valley, Newcastle and beyond stay compliant and organised all year round — not just at EOFY. Book your free discovery call.

This post covers bookkeeping, payroll, super, and BAS obligations within the scope of a registered BAS agent. For income tax return preparation, deduction advice, or tax planning, please speak with your registered tax agent or accountant.