19th June, 2025
For Australian accountants and bookkeepers, EOFY isn’t just another deadline on the calendar — it’s your annual opportunity to showcase expertise and deliver exceptional value to clients.
This year’s end-of-financial-year period brings fresh challenges and opportunities.
Whether you’re managing a busy accounting practice or expanding your bookkeeping practice, the right approach can transform EOFY from a stressful scramble into a strategic advantage.
Here’s how to master EOFY 2025 with confidence and turn compliance into client success, while putting out fewer fires and spending more time on adding value where it matters most.
Smart MYOB partners know that successful EOFY preparation starts with understanding the regulatory landscape.
Here’s your essential timeline for navigating Australian compliance requirements:
MYOB Business users benefit from automatic compliance updates, ensuring your software stays current with regulatory changes.
However, please note that desktop MYOB users should download the latest software releases to maintain compliance accuracy.
For more information, you can access comprehensive compliance guidance and a full list of EOFY tax obligations and dates at MYOB’s EOFY resource centre.
Your clients’ financial records are the foundation of everything that follows.
Poor record-keeping doesn’t just complicate tax returns – it creates unnecessary stress and potential compliance issues.
Start by encouraging clients to conduct thorough account reconciliations and transaction reviews.
Every entry should be properly categorised and substantiated.
This groundwork pays dividends when tax time arrives.
The businesses that maintain organised records throughout the year consistently experience smoother EOFY processes. It’s about building systems that work year-round, not just at deadline time.
Dale Dixon, MYOB GM Practice & Partner Advisory, says, “The most successful MYOB partners are those who help clients move beyond reactive compliance to proactive financial management. When businesses implement robust systems and processes, EOFY becomes an opportunity rather than an ordeal.”
EOFY presents the perfect window for aggressive accounts-receivable management.
Outstanding invoices don’t just impact cash flow — they can affect your clients’ financial position and growth plans.
Encourage clients to take advantage of MYOB’s automated invoicing, statement and reminder features to systematically chase overdue payments.
They can set up recurring reminders to help streamline collection processes.
Many clients don’t realise how much working capital is tied up in unpaid invoices until you show them.
Australian SMEs with strong cash flow management practices are significantly better positioned for growth in challenging economic conditions.
Help your clients join this group. Remind them that EOFY is the perfect time to evaluate cash flow, tighten up credit terms, and automate as many processes as possible.
Tax planning shouldn’t be an afterthought – it should be a strategic conversation that happens throughout the year, with EOFY serving as the annual review point.
Work systematically through available deductions, such as business expenses, asset depreciation, superannuation contributions, and industry-specific allowances.
Look for opportunities your clients might have missed.
The key is thinking beyond current-year deductions to future tax planning.
What strategies can you implement now that will benefit clients in the coming financial year? This forward-thinking approach positions you as a strategic advisor rather than just a compliance provider.
Payroll compliance changes at financial year-end can catch even experienced businesses off-guard.
The super guarantee rate increasing to 12% from 1 July 2025 is just one example of changes that require immediate attention.
Use MYOB’s payroll tools to ensure accurate calculations and timely submissions.
But don’t stop at compliance — help clients understand how these changes impact their budgets and cash flow planning.
Effective payroll management protects businesses from penalties while ensuring employees receive correct entitlements.
It’s risk management and relationship management rolled into one.
Your MYOB software contains features specifically designed to streamline EOFY processes. Here’s how to leverage them effectively:
Essential MYOB features for EOFY:
You can also use these checklists to help navigate the end-of-year process in MYOB Business and MYOB AccountRight and better prepare for the year ahead:
Download EOFY Checklist
Download End of Payroll Year Checklist
We find that our most successful MYOB partners understand that the EOFY is about relationship building, not just number crunching.
Consider expanding your service offering at this time of the year with valued-added services such as:
These services will help differentiate your accounting practice or bookkeeping practice from competitors who focus solely on compliance.
Success in EOFY 2025 requires more than just meeting deadlines — it demands strategic thinking, proactive planning, and the right technology foundation.
MYOB partners who combine thorough compliance knowledge with strategic client advisory services consistently deliver superior outcomes.
They transform EOFY from a necessary burden into a valuable business opportunity.
The difference between good and great EOFY outcomes often comes down to preparation.
Start early, communicate clearly with clients, and leverage your MYOB tools to their full potential.
Every EOFY season, we witness the same pattern: well-prepared practices sail through smoothly while those who are reactive struggle with last-minute complications.
Which category will your practice fall into this year?
Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.