Time is flying, and the 2025/2026 financial year is nearly over.
EOFY deals are great for salespeople hitting targets, but are they right for your bottom line?
Before you make any last-minute business purchases, you need accurate data.
Here is what we need to action together right now to get you sorted before 30 June:
📷 Upload to ReceiptBank/Dext – Please upload all outstanding receipts and bills today. We need your Xero file up to date so you (and your accountant) can see your true financial position.
💰 Review Loans – If you owe money to your business, chat with your accountant about Division 7A to avoid deemed wages and tax traps.
👥 Check Payroll Tax – Keep an eye on your wage totals, including contractor payments and entity grouping rules. If you’ve tipped over the state threshold, registration is required.
📈 Tidy Receivables – Chase up outstanding customer invoices. If they are uncollectable, let’s write off those bad debts.
📉 Audit Payables – Check your unpaid bills in Xero. Request credit notes for undelivered services, and ensure nothing was secretly paid from a different bank account.
Preparation is the secret to a stress-free tax season.
Make sure to lean on your qualified & licenced tax accountant for specific advice, and for everything else bookkeeping… sing out!
