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End of period tasks

Where to begin

The following is a list of tasks we suggest you complete at the end of each period (month, quarter, etc.). Depending on the nature of your business, some of these tasks may not apply to you. Consult an accounting advisor (such as your accountant) if you require help with your end of period tasks.

Financial year ending? As well as completing the tasks below, also see our EOFY topics for additional tasks (Australia | New Zealand).

Reconcile transactions

Reconciling makes sure your MYOB account records match the records kept by your bank. Doing this regularly helps your business records to stay accurate. At the end of each month, you'll need to compare your transactions to see if there are any that are still unmatched. 

The way that you do this will depend on how you receive your bank or credit card statements.

Learn more about Reconciling your bank accounts.

Review reports

MYOB allows you to create detailed reports about any area of your business. You can use these reports to gain valuable insight into customers, stock items or even employees' pays. 

You can produce these reports to view for yourself on your computer, print them or even save them as PDFs for safekeeping. 

Depending on the type of report you create, you'll be able to specify the details you want such as a range of dates or type of contact. Reports are grouped into five categories: businessbankingpayrollsales and bills.

Send customer statements

Make sure your customers are kept in the loop by providing them with up to date customer statements. You can view each customer's balance and see all the invoices they have—or haven't—paid for.

If you've updated their contact details with their email address, you can send them their statement right from MYOB. If not, you can still print a physical copy of any statement to deliver to them however you like.