{"id":39,"date":"2026-10-28T02:01:33","date_gmt":"2026-10-28T02:01:33","guid":{"rendered":"https:\/\/atane.co.nz\/blog\/?p=39"},"modified":"2026-10-28T02:01:33","modified_gmt":"2026-10-28T02:01:33","slug":"end-of-year-checklist","status":"publish","type":"post","link":"https:\/\/atane.co.nz\/blog\/2026\/10\/28\/end-of-year-checklist\/","title":{"rendered":"END OF YEAR CHECKLIST"},"content":{"rendered":"
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A guide to getting your books ready before 31 March.<\/em><\/div>\n
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1. Reconcile Everything in Your Accounting Software<\/div>\n
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  • Clear the deck:<\/strong> Ensure every transaction up to 31 March is fully reconciled in Xero or MYOB.<\/span><\/li>\n
  • Match the statement:<\/strong> Check that your accounting software balance matches your actual bank statement balance.<\/span>\u00a0<\/li>\n

    <\/ul>\n

    <\/div>\n
    2. Review Your Debtors & Write Off Bad Debts<\/div>\n
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    • The 31 March Rule:<\/strong> To claim a tax deduction for bad debts, they must be formally written off<\/strong> in your accounting system on or before<\/em> 31 March. If you leave them active past this date, you could end up paying tax on income you will never receive.<\/span>\u00a0<\/li>\n

      <\/ul>\n

      <\/div>\n
      3. Conduct a Physical Stocktake (Inventory)<\/div>\n
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      • Count your goods:<\/strong> If your business holds inventory, you must complete a physical stocktake as close to 31 March as possible.<\/span><\/li>\n
      • The $10,000 Exemption:<\/strong> If your total stock value is under $10,000<\/strong> and your annual turnover is under $1.3 million, you can choose to skip the physical stocktake and use your opening stock value instead.<\/span>\u00a0<\/li>\n

        <\/ul>\n

        <\/div>\n
        4. Prep Your Payroll and Employee Leave<\/div>\n
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        • The 63-Day Rule:<\/strong> Employee bonuses, holiday pay, or redundancy payments owed at 31 March can be claimed as a deduction this year<\/em>\u2014but only if they are physically paid out within 63 days of your balance date<\/strong> (by 2 June).<\/span><\/li>\n
        • Reconcile PAYE:<\/strong> Ensure all final PAYE schedules match your payroll software figures perfectly before submitting to Inland Revenue.<\/span><\/li>\n

          <\/ul>\n

          <\/div>\n
          5. Review Assets & Expenses Under $1,000<\/div>\n
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          • Low-Value Asset Write-off:<\/strong> Check your asset purchases. Assets costing $1,000 or less (ex. GST)<\/strong> can be claimed immediately as a business expense in the year of purchase rather than being depreciated over time.<\/span><\/li>\n

            <\/ul>\n

            <\/div>\n<\/div>\n<\/div>\n
            <\/div>\n","protected":false},"excerpt":{"rendered":"

            A guide to getting your books ready before 31 March. 1. Reconcile Everything in Your Accounting Software Clear the deck:[…]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-39","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/posts\/39","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/comments?post=39"}],"version-history":[{"count":2,"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/posts\/39\/revisions"}],"predecessor-version":[{"id":41,"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/posts\/39\/revisions\/41"}],"wp:attachment":[{"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/media?parent=39"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/categories?post=39"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atane.co.nz\/blog\/wp-json\/wp\/v2\/tags?post=39"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}