As the Australian financial year wraps up on 30 June, a bookkeeper’s role becomes more vital than ever.
From financial accuracy to ATO compliance, the bookkeeping team lays the foundation for a stress-free June 2025 BAS.
Here’s a detailed and practical EOFY checklist designed to help accountants complete the June BAS faster with fewer queries and rework.
1. Reconcile All Accounts
-
Bank, Credit Card & Loan Accounts – Match all transactions with statements
-
Petty Cash – Account for small business expenses
-
Check for – Unreconciled items, duplicate entries, and bank balance mismatches
2. Review Accounts Receivable & Payable
-
Debtors – Follow up on unpaid invoices
-
Creditors – Ensure all bills are recorded and paid
-
Write Offs – Identify uncollectable debts and process write-offs
-
Data Check – Ageing reports, due dates, and any early payment discounts
3. Finalise Payroll & Superannuation
-
Wages & PAYG – Confirm figures align with payroll records
-
Super – Ensure contributions are paid and cleared by 30 June for tax deductions
-
STP Finalisation – Submit by 14 July 2025
-
Data Points – Super payment confirmations, PAYG summaries, payroll registers
4. Conduct a Stocktake (If Applicable)
-
Inventory Check – Count stock on hand and write off damaged/obsolete items
-
COGS Accuracy – Ensure correct costing for EOFY reporting
5. Fixed Assets & Depreciation
-
Asset Register – Update with new additions or disposals
-
Depreciation – Apply correct depreciation methods and rates
-
Data Points – Purchase dates, tax invoices, depreciation schedules
6. GST & BAS Reconciliation
-
Reconcile GST collected and paid with BAS lodged so far
-
Compare GST figures in software vs. BAS lodged to date
-
Identify any over/under-reported GST before preparing June BAS
-
Prepare accurate records for the June quarter
7. Prepare Key Financial Reports
-
Profit & Loss Statement – Check revenue, expenses, and margins
-
Balance Sheet – Ensure all assets and liabilities are correct
-
Cash Flow Summary – Reflect true cash movements for the year
-
Ensure these reports reflect real-time business performance
8. Clear Suspense & Loan Accounts
-
Identify and reallocate all suspense balances
-
Reconcile loan accounts and gather interest breakdowns
9. Backup & Compliance Check
-
Backup all accounting data and reports for safekeeping
-
Ensure BAS, GST, and PAYG lodgements are up to date
-
Keep records ready for audit, if required
Why It Matters
When bookkeepers manage these tasks accurately, it reduces back-and-forth queries and helps accountants focus on strategic year-end work like tax planning, financial statements, and BAS lodgement.
A clean set of books = faster BAS = happy accountant + compliant client.
Let’s team up and make EOFY 2025 a smooth one!
Need help with your BAS or bookkeeping support this EOFY?
For More Information visit our Website
Reach out to us at biz@carisma-solutions.com.au
Connect with us on our What’s App
Credits
Vigneshkumar Muthiah, Services Management Team