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EOFY Checklist for Your Bookkeeper

The end of the financial year is a busy time for everyone, but small business owners can feel the brunt of it given that there’s so much paperwork to sort through.

However, if you’ve enlisted the help of bookkeeper, reconciling your businesses financial records is a much easier task –  as the more you stay on top of your finances, the less time you’ll have to spend come EOFY.

So, what can you do as a small business to help prepare your bookkeeper for the end of the financial year? We’ve put together a handy EOFY checklist to help you prepare.


EOFY Checklist

Keep your paperwork up to date

As a small business, it’s important to keep all financial records up to date. This includes all income, expenses, bank statements, pay slips and records of business purchases. If you plan on claiming anything on tax, you’ll need proof of expenses and itemised bills such as a usage log and bill statements.

Send documents and receipts to your bookkeeper

If you’ve got any documents that detail income, profit and loss, balance sheets, expenditure or deduction claims, be sure to send them to your bookkeeper. This is also a good time to check if you have any outstanding client invoices that need to be paid.

Payroll and superannuation obligations

EOFY is a good time to double-check that you’re meeting the payroll and superannuation obligations required for your employees. Your bookkeeper can help you check if salaries are meeting the statuary requirements.

A summary of your EOFY checklist:

  • Provide your bookkeeper with a summary of income and expenses so they can compile a profit and loss statement.
  • Provide supporting documentation of all expenses incurred by the business, including stocktake, purchases and repairs, and anything you sell.
  • Proof that you’re meeting superannuation requirements.

Xero EOFY Checklist

If you’re using accounting software such as Xero, file consolidation will be a lot easier. As your reporting documents are all filed within the software, you’ll have to invite your bookkeeper to be a user. This is a good time for you to reconcile your bank accounts and go through bills and expense claims. In addition to doing the tasks listed above, a small business using Xero should also take a look at the following Xero EOFY checklist.

Run an aged receivables summary

Running an aged receivables summary report is a quick way to see if any customers owe you any money, and how long that bill has been withstanding.

Run a GST reconciliation report

This report matches the data filed by you with the recipients and makes a record of all transactions during that period. This ensures that no sales or purchases are reported incorrectly.

Trial balance report

As this report is quite complex, it may be better to hand this part over to your bookkeeper. A trial balance report will look at any discrepancies in account totals and provide a final financial statement.


We hope we’ve given you a comprehensive guide on the items you’ll need for your EOFY checklist. If you’re feeling a little overwhelmed and need some help consolidating your books, our Brisbane bookkeepers provide an to help save you money and time. Contact us online or give us a call on 07 3608 4206.