For many of our clients 31 March represents the end of another financial year. Here are a few key things to remember!
Stock Take
Please remember to count your stock, especially if they are of the grass eating type! It is much easier to count the ones in the paddocks now, than it is to rely on memory.
Manage your outstanding payments & invoices
Still waiting to receive money or have any outstanding bills? Make sure everything is up to date by chasing invoices from customers who haven't paid yet and settle up anything you might owe.
Bad Debts
Bad debts must be written off before you close off your debtors ledger at the end of the financial year.
Is your GST up to date?
If your business is GST-registered, you’ll need to pay any GST you owe at the balance date for the end of the financial year.
If you have any concerns, please ask one of MAQs lovely team members or have a look at Xero's 10-step checklist for further information.