Getting ready for 31 March

Written By Patricia de Mooy

It’s hard to believe, but the end of the financial year (EOFY) is just days away. To ensure we get the best result for your business, now is the perfect time to review key areas.

It’s hard to believe, but the end of the financial year (EOFY) is just days away.

To ensure we get the best result for your business, now is the perfect time to review two key areas:

  • Asset Register: Have you sold or scrapped any equipment lately? Let us know so we can update your depreciation schedule.

  • Bad Debts: Take a look at your aged receivables. If there are invoices you know won't be paid, they must be physically written off in your system before 31 March to claim a deduction.

Getting these bits sorted now makes for a much smoother tax season later. If you have any questions about how to handle these in your software, just let us know.

Patricia de Mooy
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