Cool, Calm, Compliant: My End of Financial Year Checklist
We’re about two weeks out from the End of Financial Year. If you’re cool, calm, and compliant – nicely done! If you’re freaking out – well that’s okay too. This blog is not a checklist about compliance and accounts, it’s a checklist about improvement, understanding your goals, and putting yourself one step closer to achieving them.
1. Don’t Hate The Game…
We all have to do it, so there’s no point getting down about the accounts you have to reconcile or the forms you have to fill out. It’s a fact of life, a part of the human condition and how you choose to go about it is up to you. Do it begrudgingly, or continue unharmed. The choice is yours my friend.
2. Be Mindful
When you’re under the pump it’s easy to get distracted. You become overwhelmed by what awaits you, instead of focusing on the here and now. This is the biggest hindrance for efficiency and productivity. Practicing mindfulness while doing your EOFY compliance sounds like some New Age mumbo jumbo – but think about it. If you can just focus on the task at hand and do what needs to be done, without being judgemental of the process or yourself, you might actually come up with a few ways to improve your process. You could even notice some unnecessary double up you’ve been doing or even just learn to love the process.
3. Save the Trees, Save Yourself
If you’re not already paperless, make this year your last paper tax year. Of course, while you’re actually doing your books you think to yourself, ‘no more, next year I’ll be paperless’. Then something happens, it’s a mad race to the finish line, you get everything in and then you think, ‘oh, it wasn’t so bad’. Make a promise to yourself now: I will put aside time once everything slows done, to make all my manual processes paperless.
4. Ask for Help
Something happens when you start your own business, suddenly you think you have to be everything. You have to be a marketer, a sales expert, a bookkeeper, a growth analyst and so much more. Just remember – all you have to be is yourself. Even though you may be able to do everything, is it really what’s best for you and your health…and your business for that matter? Hiring a bookkeeper, although it’s an expense, can save you money as it frees up more time for you to focus on your actual business (and recuperate all those lost nights of sleep).
There’s no better time than when you’re knee-deep in the nitty-gritty of your business’ accounts to pivot and expand. Okay – not while you’re right in the thick of it, but just after, when everything is still fresh in your mind and some of that EOFY adrenaline is pouring over. At Hunt & Hawk we help businesses grow, reach new markets and discover their own potential that has just been dormant due to lack of appropriate coaching. It’s finding the right combination of streamlined processes, effective marketing activity and professional development that will have your accounts skyrocketing off the page for the next financial year. Drop me a line to book in a conversation.