It may feel like we’ve just returned from the Christmas break, but Q4 is nearly here. You know the drill: hiring, buying gear, pulling out cash, all with one eye on tax and the other on the bank balance. If you don’t have financial systems in place before March, EOFY is just guesswork.
There’s a better way: with a solid setup, you make clear decisions, protect your margins, and finish the year strong.
1. Real-Time Bookkeeping and Weekly Reporting
Stop the BAS Cycle
If you only reconcile when BAS is due, you’re too slow to make smart decisions. Set up Xero or MYOB for weekly updates. You’ll spot issues early, not after tax time.
Sort These Risk Areas:
- Clean up old debtors/creditors
- Fix GST coding errors
- Chase uncategorised transactions
- Track owner drawings to avoid nasty surprises
Upgrade Your Reporting For Real Results
Your P&L and balance sheet aren’t just for your accountant. Run a weekly report with a quick summary against your budget and add simple charts. If you’re a builder, track margin by job or site. If you run a gym, see which memberships actually make money.
2. Forecast Ahead: 13-Week Cashflow for Small Business
Build Your 13-Week Cashflow Forecast
Map out BAS, super, wages, supplier bills, and tax dates. Update it regularly so you’re not caught out in April or May. With a proper cashflow forecast, your final quarter becomes intentional (rather than reactive).
Pressure-Test Your Big Moves
Thinking about hiring, buying equipment, or opening a new location? Use your forecast to test these moves three to six months ahead, before you commit. Set a clear minimum cash buffer so you know your limits.
Spot Issues Before They Hurt
For example, a Malvern builder’s 13-week cashflow shows major invoices won’t be paid until June. With this heads-up, they can manage spending or chase late payments now, before cash gets tight.
3. Master Your Month-End for Clearer EOFY Planning
Step 1: Use Our Checklist
Don’t wait for your accountant to tell you what went wrong. Close your books every month with this checklist:
- Reconcile all accounts
- Check for uncoded spend
- Review debtors/creditors
- Confirm GST accuracy
Step 2: Review for EOFY
Run a GST review, check super and Single Touch Payroll, and estimate your tax position early.
Step 3: Schedule a Monthly Decision Meeting
Review your cash buffer, check margin movement, and set three clear actions for the month ahead.
Reminder: Avoid Ad Hoc Owner Pay
Tie your owner withdrawals directly to profits. Set a clear rule: once you reach $X in profit and have $X in cash in your account, with your cash buffer in place, you can take out $X.
Deciding what’s safe to take before 30 June, not just what’s left over, will avoid EOFY tax shocks.
End of Financial Year Planning FAQs
What’s the Best Tool for Cashflow Forecasting?
Xero, MYOB, or a simple spreadsheet or app can all work, as long as you actually update it weekly.
How Does Month-End Close Help with EOFY?
You’ll always have up-to-date numbers, so you can plan ahead instead of playing catch-up.
Should I Track Margins by Service?
Yes. Tracking margins by job or service line shows you exactly where you’re making money and where you’re not, so you can focus on profitable work and fix problem areas before they drain your cash.
How to Finish EOFY on a Win
Lock in these three financial systems before March 2026 and turn EOFY from chaos into a clear plan. No more guesswork, margin leaks, or last-minute tax panic. Just confident decisions and more cash in your pocket.
Don’t leave it too late. Book your tax planning session with our Adelaide team and get your financial systems sorted before Q4.