Financial year end is easier with Xero

End of the financial year is usually 31 March and it can be stressful for small businesses. But it doesn’t need to be. Get your business ready for an easier year ahead with Xero.

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Financial year-end is coming

The end of the financial year is usually 31 March. This is when most small businesses and organisations close their books to calculate their income tax on their profit (their income, minus any expenses).  

Generally income tax returns are filed at the end of the first year of business, and paid as a lump sum. After the first year, tax is then paid in instalments, this is called provisional tax. 

You can make tax returns easier and save time with our most popular features.

 

 

 

gst

Easy online GST returns

Automatically calculate and file GST returns directly with Inland Revenue. Documents are securely stored to comply with legislation.

Fast bank reconciliation

Bank transactions flow into Xero automatically each business day. Reconciling can be done in just one simple click.

Save time on paperwork

Create and send online quotes and invoices, pay multiple bills in one go. Store the files in Xero for paperless record keeping.

Top tips to make financial year-end easier

get the right advice

Get the right advice

Just like you wouldn’t rely on an internet search for a health diagnosis, the same applies for the health of your business. Talk to your accountant or bookkeeper.  They can help answer questions like What sort of tax should I be paying? How much do I need to pay? And When do I pay it?

plan your tax year

Plan your tax year

The financial year-end is a good time to ask your accountant or bookkeeper to come up with a tax plan for the new year. They’re in a much better position to lower your tax bill if they can put a 12-month strategy in place. Don't have an accountant or bookkeeper? Find one near you. 

there is an easier way

There is an easier way

Moving to a platform like Xero makes running your business easier and helps your accountant or bookkeeper do your accounts faster. But it also means that if you keep up with your bank reconciliation and key financial movements and documents during the year, your financial year-end will be a breeze!

know as you go

Know as you go

Did you know that with accounting software like Xero, you can create a P&L statement or a balance sheet whenever you like? Not just at tax time. This lets you know exactly how your business is performing anytime, and because you’ll automatically have digital records of everything, there’s no need to fear an audit.

get things in order

Get things in order

Tying up loose ends can make financial year-end much smoother. Make sure you’ve invoiced all customers correctly, and you’ve paid any due bills. Bank any cash and check that all payments have been recognised. Also ensure outstanding bills have been entered into Xero, and all work performed has been invoiced.

get things in order

With Xero, you're always up-to-date

features

 

Log in to the Xero accounting system for up-to-date financials, anytime, anywhere. View and share interactive reports and budgets, all in one place on a customisable dashboard.

Explore all features

Choose the plan that fits your business

Pay monthly, with no hidden costs or surprises. 

Price excludes GST.

 

 

Starter

$ 99 ($99/mo) NZD / Month

Premium

$ 99 NZD / Month

Or register interest as an accountant or bookkeeper

Have an expert at your side

Check out Xero’s advisor directory to find a local accountant or bookkeeper who perfectly understands your industry, your business, and your goals. Share your Xero account with them to collaborate on your numbers in real time and get instant advice.

Find an advisor