{"id":17276,"date":"2026-05-26T18:47:06","date_gmt":"2026-05-26T13:17:06","guid":{"rendered":"https:\/\/befreeltd.com\/au\/?p=17276"},"modified":"2026-05-26T18:47:12","modified_gmt":"2026-05-26T13:17:12","slug":"how-to-prepare-books-for-eofy","status":"publish","type":"post","link":"https:\/\/befreeltd.com\/au\/resources\/blogs\/how-to-prepare-books-for-eofy\/","title":{"rendered":"How to Prepare Your Books for EOFY: A Bookkeeper’s Checklist for 2026"},"content":{"rendered":"\t\t
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For any business, the weeks leading up to 30 June are crunch time. Financial records need to be accurate, reconciled, and complete, not just for tax purposes, but to give a true picture of how the business has performed over the past twelve months.<\/p>

Whether bookkeeping is handled in-house or with outside support, having a structured checklist makes the difference between a smooth EOFY and a stressful one. This guide covers every key bookkeeping task that should be completed before the financial year closes on 30 June 2026.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Why Clean Books Matter at EOFY\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Disorganised or incomplete books at year-end create a ripple effect. Errors in the accounts flow through to the tax return, which can mean overpaid tax, missed deductions, or ATO queries down the track. Incomplete payroll records delay STP finalisation. Unreconciled accounts make it impossible to produce reliable financial statements.<\/p>

Beyond compliance, accurate year-end books are the foundation for planning the next financial year, understanding profitability, managing cash flow, and making sound business decisions, all of which depend on financial records being in good shape.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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EOFY Bookkeeping: Key Deadlines to Work Towards<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Task<\/strong><\/p><\/td>

Target Date<\/strong><\/p><\/td><\/tr>

All transactions entered and categorised<\/p><\/td>

30 June 2026<\/p><\/td><\/tr>

Bank and credit card reconciliations are complete<\/p><\/td>

30 June 2026<\/p><\/td><\/tr>

Superannuation Q4 contributions cleared by the fund<\/p><\/td>

30 June 2026<\/p><\/td><\/tr>

Stocktake completed (if applicable)<\/p><\/td>

30 June 2026<\/p><\/td><\/tr>

STP finalisation submitted<\/p><\/td>

14 July 2026<\/p><\/td><\/tr>

Q4 BAS lodged (quarterly reporters)<\/p><\/td>

28 July 2026<\/p><\/td><\/tr>

Financial statements prepared for the tax agent<\/p><\/td>

August\u2013September 2026<\/p><\/td><\/tr>

Tax return lodged (self-lodgers)<\/p><\/td>

31 October 2026<\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Part 1: Bank and Account Reconciliation\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Reconcile Every Bank Account and Credit Card\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
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The most fundamental bookkeeping task at EOFY is ensuring every transaction in the accounting software matches the corresponding bank statement. Every account used by the business, operating accounts, savings, credit cards, and loan accounts, must be reconciled as at 30 June 2026.<\/p>

Any unreconciled items should be investigated before the year closes. Common causes include:<\/p>