Talking Cents

Step by step checklist on getting ready for the new financial year, by your small business accountants in Melbourne

While preparing for the end of the financial year, you need to ensure that you are also ready for the start of the new financial year on July 1st. Our small business accountants in Melbourne have prepared a step-by-step checklist to ensure that your small business is ready for the next financial year.

We know that the end of the financial year is stressful, but not being ready for the new one could impact your business negatively. So it is important for you to follow these steps that our business accountants in Melbourne have formulated:

• Review your finances and see if goals were met from last year, also set new goals for the next year
• Ensure that all licenses and registrations are valid
• Review your bookkeeping system and ensure that everything is being kept up to date
• Update your business and marketing plans
• Always be sure to get support and advice from professionals, our small business accounting services in Melbourne are always available
• Always back up and secure your files to ensure nothing gets lost

So that is why it is extremely important for you to consider both the end and the start of the financial year as both take different measures and procedures.

As always, feel free to contact our small business accountants in Melbourne with any enquiries you may have.