5 signs your books need attention before 30 June
1. You don't know your profit
If someone asked you right now "how much has your business made this financial year?" — could you answer? If not, your books are not up to date.
2. Your BAS figures feel wrong
If your GST collected doesn't seem to match your sales, or you're not sure whether you've captured all your GST credits, that's a reconciliation problem. BAS errors can result in overpaying GST or underpaying (which triggers ATO interest and penalties).
3. You have a pile of unprocessed receipts
Receipts sitting in a drawer, a folder, your email inbox, or your phone's camera roll are deductions you haven't claimed yet. Every unprocessed receipt is a potential missed deduction.
4. Your payroll hasn't been reconciled
If you run payroll, your STP figures, super payments, and payroll tax obligations all need to reconcile against each other and against your books. Mismatches create problems at EOFY.
5. You're avoiding opening your accounting software
This one is the most telling. If you feel a knot in your stomach every time you think about logging into Xero — that's the sign. The books are behind, things feel overwhelming, and avoidance has taken over. That's completely fixable.