This section describes the tasks you should perform at the end of your financial year.

However, you don’t need to close your financial year at any particular time. You can continue to use your company file after the last month of your current financial year.

If you're running a business in Australia, watch this video to get a quick overview of how to close a financial year.

What you need to do

Complete the tasks listed below to close your financial year and start a new one.