POS SOFTWARE
Today is the EOFY, the last day of the financial year. So it is the last day to review your bookkeeping. Then make some last-minute adjustments.
As a minimum, I would suggest you get these reports in order:
Sales reports
Stock Valuation (this may depend on when your stocktake is done)
Customers Outstanding Subagents Outstanding (if relevant)
Creditors Outstanding (if you do it from the point of sale software)
It would be best to consider what can be written off in the debts and stock to claim a tax deduction for this year. Otherwise, these will be profit this year.
Click here for a webinar on End of Financial year reporting from your point of sale software. It discusses in detail these reports.
