The Final Month of the Financial Year – Is Your Business Ready?

June is here, and for Australian businesses, that means one thing: the end of the financial year is just around the corner.

While EOFY can feel overwhelming, it does not have to be stressful. With the right systems, records, and support in place, June becomes the perfect opportunity to tidy up your books, review payroll, check your super obligations, and prepare your business for the new financial year.

At Gecko Cloud Solutions, we believe EOFY is not just about closing off the year. It is about stepping into the next financial year with clarity, compliance, and confidence. As a trusted provider of bookkeeping services in Brisbane, we help local businesses stay organised and EOFY-ready all year round.

Why June matters for business owners

June is the final month to get your financial records in order before 30 June. This is the time to review whether your bookkeeping is up to date, your payroll has been processed correctly, your BAS records are complete, and your super contributions have been planned properly.

It is also a good time to look at what has worked well in your business systems over the past year and what needs improving before the new financial year begins.

For employers, June is especially important. Monthly BAS for May is generally due by the 21st day of the following month, and employers lodging FBT electronically through a tax agent may have a 25 June due date, depending on their circumstances. Working with an experienced BAS agent in Brisbane can take the stress out of these deadlines and help ensure everything is lodged correctly and on time.

Key areas to check before 30 June

Before the financial year ends, business owners should take time to review:

Bookkeeping records
make sure bank reconciliations are up-to-date, supplier invoices are entered, customer invoices have been reviewed, and business expenses are correctly coded.

Payroll and employee records
Check that wages, leave, allowances, deductions, and employee details are accurate. EOFY payroll reporting is much easier when records have been reviewed before the deadline. Reliable payroll services for small businesses can take care of this process so nothing is missed.

Superannuation:
If you want super contributions to be counted in the current financial year, they generally need to be received by the employee’s super fund by 30 June — not just processed or paid from your bank account on that date.

Outstanding invoices and bills
June is a great time to follow up overdue invoices, review unpaid supplier bills, and get a clear picture of your cash flow before EOFY.

Software and systems
EOFY is also a good time to review whether your accounting, payroll, and document management systems are still working effectively for your business.

Payday Super is coming

One of the biggest payroll changes on the horizon is Payday Super.

From 1 July 2026, employers will need to pay super at the same time as wages, rather than waiting until the quarterly super due date. This means businesses will need to have stronger payroll processes, better cash flow planning, accurate employee details, and reliable super clearing systems in place.

While the change does not start until 1 July 2026, now is the time to prepare. Businesses that leave it too late may find themselves dealing with cash flow pressure, payroll errors, or compliance issues.

How to make EOFY easier

EOFY becomes much easier when your bookkeeping is maintained throughout the year. Instead of rushing to fix months of records in June, regular bookkeeping gives you cleaner data, better reporting, and more confidence in your numbers.

A simple EOFY checklist can help:

✔ Reconcile bank accounts
✔ Review unpaid invoices
✔ Check supplier bills
✔ Confirm payroll records
✔ Review super payments
✔ Check employee details
✔ Organise receipts and supporting documents
✔ Speak with your bookkeeper, BAS agent, or accountant early

The earlier these items are reviewed, the smoother the EOFY process will be.

Start the new financial year with confidence

The end of the financial year is not just a deadline. It is an opportunity to reset, review, and improve.

By taking action in June, you can reduce stress, avoid last-minute surprises, and set your business up for a stronger year ahead.

Need help getting EOFY-ready?

Gecko Cloud Solutions can support your bookkeeping, BAS, payroll, and compliance needs so you can finish the financial year organised and start the new one with confidence.

Get in touch with our team today, and let’s get your business ready for EOFY.