Have you got all your ducks in a row for EOFY?

Think of the end of financial year as your annual maintenance: a chance to tidy up, claim what you’re entitled to, and set yourself up for a smoother, more profitable year ahead.

1. Gather Your Income Records

Make sure every dollar earned is accounted for. This includes:

• Client bookings (from your booking software, diary, or manual records)
• Gift voucher sales
• Product sales (oils, balms, retail items)
• Clinic room hire income (if applicable)
• Any subcontracting or mobile work you’ve done

Tip: Export reports from your booking system now — they’re much easier to reconcile while everything is fresh.

2. Organise Your Expenses

Massage therapists have a LOT of legitimate deductions. Common ones include:

• Oils, balms, creams, waxes
• Towels, linen, laundry costs
• Equipment (tables, bolsters, heaters, stools)
• Professional association fees
• Insurance (professional indemnity, public liability)
• Uniforms and closed‑in shoes
• Cleaning supplies
• Music subscriptions
• Room rental or home‑office expenses
• Education, workshops, and CPD
• Travel for mobile therapists (km logbook or actual expenses)

Top tip: If you’ve upgraded equipment this year, check whether it qualifies for immediate asset write‑off.

3. Reconcile Your Bank Accounts

Match your:

• Business bank account
• PayPal/Square/Stripe accounts
• Cash payments
• EFTPOS settlements

This ensures your income totals are accurate and defensible if the ATO ever asks questions.

4. Check Your GST (if registered)

If you’re over the $75k threshold or voluntarily registered:

• Make sure BAS statements are up to date
• Reconcile GST collected vs GST paid
• Double‑check product sales (some items may be GST‑free depending on classification)

5. Review Your Private Health Fund Requirements

If you’re a provider:

• Ensure your association membership is current
• Check your first aid certificate expiry
• Confirm your provider numbers are correct and active

EOFY is a great time to tidy up compliance so nothing lapses unexpectedly.

6. Stocktake Your Products

If you sell retail items:

• Count what you have on hand
• Record the value of your stock
• Note any expired or damaged items

This helps with accurate profit reporting and ordering for the new year.

7. Update Your Insurance & Registrations

Use EOFY as your annual reminder to check:

• Professional indemnity
• Public liability
• Association membership
• First aid/CPR
• Working With Children Check (if relevant)

8. Review Your Pricing & Packages

Costs have gone up — your pricing may need to as well. Consider:

• Treatment prices
• Package deals
• Mobile surcharges
• Product margins

9. Back Up Everything

Save copies of:

• Invoices
• Receipts
• Bank statements
• BAS statements
• Booking reports
• Stocktake records

Store them in at least two places (cloud + external drive).

10. Set Goals for the New Financial Year

A fresh year is a fresh start. Think about:

• How many clients you want per week
• What services you want to grow
• Any new modalities you want to learn
• Whether you want to expand, reduce hours, or shift focus
• Your ideal work–life balance