A quick guide to an easy EOFY in MYOB Essentials

In MYOB Essentials, there's not much you need to do at EOFY. That said, it's a good opportunity to take a few moments to make sure your accounts are in order, and everything's ready for your accountant to take care of tax time. Get started by completing your usual month-end tasks. Once they're done, here's a handy list of some of the things you might need to do at EOFY.

MYOB Essentials is automatically updated at the end of financial year, so all your tax rates are always up to date and accurate.

Single Touch Payroll became mandatory 1st July 2018 for businesses with 20 or more employees, and will now be required for all other businesses (with 19 or fewer employees) from the 1st July 2019.

If your business needs to be STP compliant and you aren’t yet using an MYOB product, speak with your vendor about what options they have for your product. 

For more information on using STP in your MYOB product, see our Single Touch Payroll guide.

Oi Yee is often described as a fast-paced pocket rocket who would rather run than walk. She enjoys good food, great company and loves lending a hand to anyone who wants it. With a love for all outdoor activities, her goal is to hike through as many national parks as she can with her small family.