Spring isn’t just for closets—it’s also the perfect time to freshen up your business finances.
Before the busy holiday season sets in, use this window to tidy your accounts, fix recurring issues, and set yourself up for a strong finish to the calendar year.
Here’s a simple 5-step checklist to spring clean your business finances.
✅ 1. Reconcile old transactions
Are there old unreconciled bank or credit card transactions lingering in your file? These can skew your reports and lead to BAS errors.
→ Action: Reconcile all accounts fully up to the most recent bank feed. Investigate and clear any outstanding items.
✅ 2. Review your chart of accounts
Over time, account lists can get messy—duplicate codes, unused categories, or vague names make reporting harder.
→ Action: Archive unused accounts and re-label confusing ones. Consider grouping accounts into logical categories for cleaner reporting.
✅ 3. Clean up customer and supplier contacts
Still invoicing “ABC Pty Ltd – New” and “ABC Pty Ltd – Old”?
Too many duplicate or incomplete contacts clutter your records.
→ Action: Merge duplicates, update missing ABNs or emails, and deactivate inactive contacts.
✅ 4. Audit your repeating transactions and subscriptions
Recurring invoices and bills are convenient—but only if they’re still relevant.
→ Action: Cancel or update any repeating transactions that are no longer valid. This avoids clutter and incorrect accruals.
✅ 5. Review employee records and payroll settings
If you’ve had staff changes this year, now’s the time to check:
- Terminations are processed correctly
- Super settings are up to date
- STP2 mappings are accurate
- Leave balances are accurate
→ Action: Run an employee summary report and payroll audit for peace of mind before the Christmas period.
🌿 Need help with your spring tidy-up?
If your Xero file is looking a little chaotic or you just want a second pair of eyes, I offer fixed-fee Xero file reviews, clean-ups, and BAS-ready checks.
📩 Book yours here → [Insert link]
🧹 Simple. Stress-free. Sorted.
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