As we approach the end of the 2026 financial year, this is usually the point where many clients start thinking about getting everything in order. EOFY does have a way of arriving quickly, but with a bit of preparation, it can feel far more manageable and even empowering.
At The BookSitters, we work closely with our clients through this period every year. The difference we consistently see is simple. The more prepared you are now, the smoother and more productive EOFY becomes.
This guide is here to help you feel organised, informed, and confident as you head toward June 30.
What to keep in mind this year
The overall process has not changed dramatically, but there are a few themes continuing into 2027:
- Ongoing focus from the ATO on accurate record keeping and compliant deductions
- Greater attention on expense claims and supporting documentation
- Continued move toward digital systems and clean, traceable financial data
- Cash flow remains a key pressure point for many businesses
None of this is meant to alarm you. It simply reinforces the value of being organised and consistent.
A helpful mindset for EOFY
EOFY is often seen as something to get through. In reality, it is a valuable checkpoint.
It is a chance to:
- Understand how your business has performed
- Make informed financial decisions
- Tidy up anything that has been sitting in the background
- Set yourself up for a strong start to the next financial year
Approaching it this way tends to reduce stress and increase clarity.
YOUR EOFY 2026 CHECKLIST
Working through this over the coming weeks will put you in a strong position.
- Does your Bookkeeper need any missing paperwork to complete the following?
- Ensure all transactions are entered and reconciled
- Match bank accounts, credit cards, and loans against bank statements
- Review uncategorised or unclear expenses
- Confirm payroll and superannuation are current, and STP filed where needed
Accurate data is the foundation for everything that follows.
- Review your profit and loss – Take a little time here. It is worth it.
- Compare this year with last year
- Identify your most profitable services or products
- Look for any expenses that have increased more than expected
- Check your overall profit position
This step often provides valuable insight into how your business is really tracking.
- Check your cash flow – clear view of cash flow helps avoid surprises.
- Review outstanding invoices and follow up where needed
- Plan for any larger expenses before June 30
- Be aware of upcoming tax obligations
- Ensure you have a comfortable buffer moving into the new financial year
Healthy cash flow supports day to day confidence.
- Prepare for deductions and claims – This is about being organised and accurate.
- Gather records for business related purchases
- Ensure receipts and documentation are stored and accessible
- Review any asset purchases such as equipment or technology
- Consider whether any planned purchases should happen before June 30
Well documented claims make the process straightforward.
- Review payroll and super
- Confirm wages are recorded correctly
- Ensure superannuation is calculated and paid
- Check employee entitlements are accurate
- Prepare for STP finalisation
Keeping this clean now prevents issues later.
- Tidy your balance sheet – This step is often overlooked but very valuable.
- Review outstanding debts and liabilities
- Write off any bad debts where appropriate
- Check loan balances
- Confirm GST and PAYG figures
A clean balance sheet gives you a clear snapshot of your business position.
- Connect with us or your accountant – You do not need to do this alone.
- Identify any opportunities or considerations before June 30
- Ask questions and build your understanding
- Align on your approach for the new financial year
Early conversations inspire more options.
- Look ahead to the new financial year – This is where real value is created.
- Set a realistic budget
- Review pricing and profitability
- Identify any systems or process improvements
- Set clear financial goals including profit and cash flow
Starting the year with a plan creates momentum.
Final thoughts
The businesses that move through EOFY with ease are usually the ones that stay consistent and organised throughout the year. If things feel a little behind, that is completely manageable. Start with one section of this checklist and work through it step by step.
If you are already in good shape, this is a great opportunity to go deeper and use your numbers to guide your next decisions. At The BookSitters, our role is to make this time feel clear, supported, and structured so you can focus on running your business with confidence.
At The BookSitters, our role is to make this time feel clear, supported, and structured so you can focus on running your business with confidence.
