EOFY - Tips, Tricks & Traps

HAPPY EOFY!!

And NO I am not talking about the marketing ploy of all retail outlets have EOFYS's to get you to buy buy buy :-)

Getting your finances and accounts in order before the end of the financial year is crucial for any size business. There are certain things we can do to help minimize taxes, improve our profits and get a deduction for before 30 June hits. Things like paying expenses in advance and contributing to superannuation have a time limit on them and must be done before the due date. MYOB, XERO and Quickbooks all have some great checklists on their websites. You can check out the MYOB list here: https://lnkd.in/gn96GGd7.

If you need help with any of this, reach out to your accountant or CFO an ask the questions. Better to get your financial stuff right now, instead of costly errors to be fixed up later on.