28d • 🧾 Bookkeeping
EOFY Action Series: Day 7
EOFY Financial Health Check
Today we zoom out and look at the big picture. You’ve cleaned up your accounts, checked payroll, reviewed pricing, and sorted your stock. Now it’s time to understand the actual health of your business before the new FY kicks off.
This is your CEO moment.
1. Review your debtors (who owes you)
- What’s overdue
- What needs following up
- What needs writing off
- Who is consistently late
Cashflow starts here.
2. Review your creditors (who you owe)
- Outstanding bills
- Old unpaid invoices
- Subscriptions you don’t use
- Suppliers you need to renegotiate with
This stops money leaking out.
3. Look at your cashflow patterns
- Which months were tight
- Which months were strong
- What caused the dips
- What you can plan for this year
EOFY is the perfect time to reset your rhythm.
4. Review your spending
- What blew out
- What wasn’t worth it
- What you need to budget for next year
- What you can cut
This is where profit hides.
5. Check your profit for the year
- Compare to last year
- What improved
- What dragged you down
- What you’ll focus on next
This gives you clarity and direction.
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EOFY Action Series: Day 7
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