EOFY has a funny way of making many capable people feel completely under-prepared. And it's not because small business owners are disorganised or reckless - it's because running a business is relentless. The day-to-day stuff fills every hour, and there are just some bookkeeping tasks that keep sliding into next week. Then next month. Then, somehow, it's the 30th of June again, and you're in full crisis mode.
The mileage you were going to track. The invoices you intended to reconcile every fortnight. The savings bank account you were going to reconcile ‘properly’ at some point. June arrives, and suddenly you’re working weekends and late nights, with a very large cup of coffee and a growing sense of dread.
And it’s not just the admin that gets to you. It’s the mental load that quietly builds well before EOFY arrives. The voice in the back of your mind that says there’s just not enough time to complete the paperwork you need to catch up on.
The latest 2026 report from Xero found that 38% of businesses described their stress levels as ‘severe’ around EOFY, with 58% claiming to hide their stress from their family. Running a business is hard, and EOFY adds another layer of pressure.
This is a reality for many small to medium business owners - the version where financial admin gets squeezed into whatever gaps exist between running the business. Though somehow, you always get through it… and that counts for something.
But if you finished this EOFY thinking, I really don't want to do that again, it's worth paying attention to that feeling.
Because the thing about winging it is that it costs more than just stress. It costs time and money when things get missed or miscategorised. But none of that has to be the default setting.
The businesses that sail through EOFY aren't necessarily more organised, they've just got systems and support in place, so the pressure doesn't all land in one brutal fortnight. They're checking in on their numbers regularly and ensuring all tasks are complete, not just when the deadline forces them to.
If this EOFY felt harder than it needed to, you might be interested to hear that now is the ideal time to do something about it. The financial year is fresh, the pain is recent enough to be motivating, and there's a full twelve months before you have to do it all again. That's a lot of time to prepare.
The businesses that make the biggest improvements and suffer the least amount of anxiety don’t wait until the end of May to start preparing. They make sure they have systems in place and someone to help them stick to their procedures. We’re not talking a complete overhaul, just a way to stay on top of things.
At WestBAS, we work with small business owners to get their books in order and keep them that way - so that EOFY next year will feel completely manageable. Not stressful. Just another month.
If you're not prepared to wing it next year, let's have a chat. Book a catch-up with Susan and the team at WestBAS and let's figure out a way to lower your stress and anxiety levels next EOFY. You'll be glad you did.