6 key tasks to check off heading into the 2025-26 financial year.
We know there’s a lot to consider as a business owner during this busy time of year, so here’s a checklist with 6 things you should consider during the start of this new financial year!
What you can do in April:
1. Start gathering your EoY documents
Start gathering your End of Year reports and statements so we can get your accounting sorted ASAP.
2. Keep an eye on your inbox
We use Xero Workpapers to collect your information and collate your financial reports and statements, so look out for an email from messaging-service@post.xero.com in your inbox. We recommend adding this email to your address book, otherwise it may end up in your Junk.
3. Time to stock take
If you haven’t already, do a stock take of any inventory you have on hand. This is a key piece of information for us to complete your 2025 financial reports.
4. Review your accounts receivables
Now is a great time to review your accounts receivables, chase up on unpaid customers, and settle any bad debts.
5. Adjust for minimum wage increase
As of April 1st 2025, minimum wage has been increased to $23.50 per hour. Make sure you review all your minimum wage employees and make any necessary changes to their remuneration.
6. Look ahead!
Set your budget and goals for the 2025-26 financial year. Remember to take into account any known changes to income streams, expenses, business conditions.
Have any questions? Feel free to get in touch at the details below.
