What happens after 30 June matters
You may have completed a stocktake, chased invoices and reviewed spending before the year ended. That was useful work. Your next task is to prove that the figures in your accounting system are complete and correct.
EOFY is not one deadline. It is a series of reporting, payment and review tasks spread across the weeks and months after 30 June. The exact list depends on your business structure, whether you employ staff, your GST registration and the type of work you perform.
Start with your records. A tax return prepared from unreconciled accounts can carry old errors into the new year. It can also give you a misleading view of profit, cash flow and tax.
Picture a trade business that appears to finish June with strong cash. Its owner plans an equipment purchase based on that balance. A review finds unpaid super, GST collected for the quarter and supplier invoices that were entered in July but related to June. The available cash is lower than it first appeared. Closing the accounts before committing the money prevents a poor decision.
Close the books before you rely on the numbers
Reconciliation means matching the entries in your accounting file to independent records. Work through each balance sheet account, not only the main bank account.
Cash and payment accounts
Match bank, credit card, payment gateway and loan balances to statements at 30 June. Investigate duplicate, missing and uncategorised entries.
Customers and suppliers
Review unpaid invoices and bills. Check whether old balances are genuine, duplicated, disputed or already settled outside the accounting file.
Payroll and super
Match payroll reports to the general ledger and STP records. Check wages, PAYG withholding and super liabilities employee by employee.
Assets and stock
Record purchases, sales and disposals. Confirm stock quantities and identify damaged or obsolete items supported by your stocktake records.
Review private or personal transactions posted through the business. Confirm loans to owners, drawings and reimbursements with your accountant. These entries can have different tax and company-law effects depending on your structure.
Keep evidence for adjustments. A clean set of accounts is not one where awkward balances have been deleted. It is one where each adjustment has a reason and supporting record.
Finish your employee reporting
If you report through Single Touch Payroll, you generally need to make a finalisation declaration by 14 July. This tells the ATO that your employee payroll information for the year is complete. Employees then see their income statements marked Tax ready.
Before finalising, compare your payroll reports, general ledger and STP data. Check gross payments, allowances, deductions, PAYG withholding, reportable fringe benefits and reportable employer super contributions. Correct errors before the declaration where you can.
Super for the April to June 2026 quarter needed to reach each employee's fund by 28 July 2026 under the former quarterly timing rules. A payment sent to a clearing house on the due date may not have reached the fund on time. If a contribution was late, missing or sent to the wrong fund, speak with your accountant promptly. A super guarantee charge statement and payment may be required.
The ATO's Small Business Superannuation Clearing House also closed on 1 July 2026. If you relied on it, confirm that your replacement service is active and test the full process. Check that employee fund details are current and that rejected payments are followed up quickly.
Put the remaining reporting dates in your calendar
Missing a task because it falls after June can lead to penalties, extra tax or rushed work. Use the table as a starting point, then confirm the dates that apply to your business with your accountant.
| Task | Usual timing | What to check |
|---|---|---|
| STP finalisation | 14 July | Payroll totals agree and all employees are included before the declaration. |
| June quarter activity statement | Depends on lodgment method and agent arrangements | GST, PAYG withholding and instalment figures agree with the ledger. |
| Payroll tax annual reconciliation | Varies by state or territory | Interstate wages, contractors, grouping and threshold rules have been considered. |
| Taxable payments annual report | 28 August | Confirm whether your industry and contractor payments require a TPAR or non-lodgment advice. |
| Income tax return | Varies by structure and lodgment history | Ask your tax agent for your due date and provide final records early. |
A TPAR may apply if your business pays contractors for services in industries such as building and construction, cleaning, courier, road freight, information technology or security. Do not assume it only applies to large businesses. Review contractor names, ABNs, addresses, gross payments and GST before lodging.
Your post-EOFY document checklist
Give your accountant a complete set of records. Missing information slows the work and can hide issues that need action.
- 30 June bank, credit card, loan and payment platform statements
- final aged receivables and aged payables reports
- stocktake records and notes about damaged or obsolete stock
- asset purchase, finance, sale and disposal documents
- final payroll, STP, PAYG withholding and super reports
- details of super payment dates, rejected payments and corrections
- business activity statements and payroll tax records
- contractor payment data required for TPAR reporting
- insurance, lease and major contract documents that changed during the year
- records for business loans, owner contributions, drawings and reimbursements
- details of legal disputes, doubtful debts or events affecting the accounts
- your current budget, cash-flow forecast and plans for the new year
Use the final accounts to make your next decisions
Your EOFY accounts should do more than support a tax return. Compare the result with last year and with the budget you set. Look at sales, gross margin, wage costs, overheads, debt and cash.
Ask direct questions. Which products or services produced a sound margin? Did sales grow while cash fell? Are customers taking longer to pay? Can the business fund tax, super and planned purchases without relying on short-term debt?
Turn the answers into a small number of actions. You might update prices, change payment terms, set a weekly debt collection routine or build separate cash reserves for GST and tax. Assign an owner and a review date to each action.
EOFY also gives you a chance to review your structure, payroll settings, accounting software and reporting process. Fix recurring bookkeeping problems now. Waiting until next June means another year of unclear figures and extra repair work.
Frequently asked questions
Can I change STP information after finalisation?
Yes. If you find an error, you can generally submit an update event through your payroll software. Correct it promptly so the employee's income statement and ATO records are accurate.
What should I do if June super was paid late?
Contact your accountant. Late or missing super can trigger the super guarantee charge, extra reporting and a payment to the ATO. The charge is more than the contribution that would have been paid on time.
Do all businesses need to lodge a TPAR?
No. It depends on the services your business provides and the contractor payments it makes. Your accountant can check whether you need to lodge a report or a non-lodgment advice.
When should I send my EOFY records to my accountant?
As soon as the accounts are reconciled and the key statements are available. Early delivery gives your accountant time to identify missing information and discuss tax or cash-flow issues before your due date.
Finish EOFY with clear numbers
R J Sanderson & Associates can help you close the accounts, meet your remaining reporting obligations and use the result to plan the year ahead.
Speak to your RJS accountantGeneral information only. Sources: business.gov.au EOFY checklist, Australian Taxation Office employer super guidance and ATO taxable payments reporting. Accessed 30 July 2026.