Every June, the same scramble happens across the construction industry: receipts get dug out of the ute, invoices get chased, and bookkeepers get a flood of "can you sort this before EOFY" messages. It doesn't have to be like that.
Here's a checklist built specifically for construction-related businesses — whether you're a solo tradie, a builder running multiple crews, or a developer wrapping up a project.
For everyone
- Reconcile all accounts — bank, credit card, and any loan or equipment finance accounts — so your numbers match your actual bank statements.
- Chase outstanding invoices. Unpaid invoices at 30 June affect both your cash flow and, depending on your accounting method, potentially your taxable income for the year.
- Review your vehicle logbook. If it's due for renewal (logbooks are valid for five years, but a rough or incomplete one should be redone sooner), get it sorted before your BAS agent needs it.
- Gather receipts for tools, PPE, and equipment. Anything purchased during the year that qualifies as a deduction needs a paper trail — bank statements alone often aren't enough detail for the ATO.
- Check your GST registration status and turnover. If you're getting close to the GST registration threshold, or your turnover has changed significantly, this affects your obligations going into the new year.
For tradies specifically
- Confirm home office or workshop expense apportionment if you claim a portion of home running costs.
- Reconcile any owner drawings against actual business profit, so you're not caught assuming more cash is available than there actually is.
- Review superannuation contributions, especially if you employ apprentices or staff — the super guarantee rate has changed in recent years and missed contributions attract penalties.
For builders specifically
- Reconcile progress claims against GST already reported, so nothing has fallen through the cracks across a long-running job.
- Review retention amounts owed to you and confirm they've been correctly reported for GST purposes.
- Check subcontractor GST registration records are current — this affects your input tax credit claims for the year.
- If you lodge Taxable Payments Annual Reports (TPAR) for subcontractor payments, start gathering that data now rather than in July.
For property developers specifically
- Confirm which projects are complete, ongoing, or held as trading stock versus capital, since this affects how profit is recognised for the year.
- Review holding costs (interest, rates, insurance) and confirm they've been tracked separately from construction costs.
- If a project settled during the year, check the margin scheme has been applied correctly and documented.
- Revisit your entity structure if you're starting a new project in the coming year — EOFY is a natural checkpoint to review this with your accountant.
The bottom line
EOFY stress is almost always a symptom of bookkeeping that's been left until the last minute. None of the items above are complicated on their own — they're just easy to lose track of across a busy year of jobs, projects, and subcontractors.
If you'd rather hand this whole process off, we specialise in bookkeeping for the construction industry and can get your books EOFY-ready without the last-minute scramble. Get in touch.