Simplify Your EOFY Process with Expert Bookkeeping
The End of Financial Year (EOFY) is a critical time for businesses, requiring accurate reporting, compliance with Australian Taxation Office (ATO) regulations, and strategic financial planning. At Absolute Books & BAS, we provide comprehensive EOFY bookkeeping services to ensure your business is well-prepared and compliant.
Our EOFY Services Include
Financial Statement Preparation: We compile your profit and loss statements, balance sheets, and cash flow reports to give you a clear picture of your financial position.
Reconciliation of Accounts: Ensuring all transactions, bank accounts, and financial records are correctly reconciled and up to date.
Payroll Finalisation & STP Reporting: Submission of Single Touch Payroll (STP) finalisation reports to the ATO to ensure employee payment summaries are accurate.
BAS & GST Lodgements: Accurate calculation and timely submission of Business Activity Statements (BAS) and Goods & Services Tax (GST) obligations.
Taxable Payments Annual Report (TPAR): Assistance with lodging TPAR for businesses in the building, cleaning, courier, IT, and security industries.
Review of Superannuation Contributions: Ensuring all super payments are made on time and in compliance with the Superannuation Guarantee (SG) requirements.
ATO Compliance & Lodgements: Meeting all tax deadlines and ensuring adherence to the latest ATO regulations.
EOFY Best Practices for Australian Businesses
To ensure a smooth EOFY process and avoid compliance issues, we recommend:
Reviewing Financial Records Early: Regular bookkeeping throughout the year reduces the stress of EOFY preparations.
Reconciling Bank & Business Accounts: Ensuring all transactions match your financial statements.
Checking Payroll & Super Obligations: Making sure employee wages, PAYG withholding, and super contributions are accurate and compliant.
Claiming Eligible Deductions: Keeping records of all deductible business expenses, including office supplies, equipment, and work-related costs.
Lodging BAS & TPAR on Time: Meeting ATO deadlines to avoid penalties.
Planning for the New Financial Year: Reviewing your financial position and setting business goals for the upcoming year.
Why Choose Us for EOFY Bookkeeping?
Compliance & Accuracy: We ensure all EOFY reports align with ATO requirements and Australian accounting standards.
Time & Cost Efficiency: Reduce your workload and focus on running your business while we handle the EOFY process.
Personalised Support: Tailored EOFY solutions that match your specific business needs.
Secure & Confidential Handling: Your financial data is treated with the highest level of security and confidentiality.
