June 30 will be here before you know it. For most independent operators, that means stocktakes, accountant meetings and the usual scramble to get the books in order. But your POS system plays a bigger role in EOFY than most people give it credit for, and a bit of preparation now can save you hours of headaches in July.
Here’s what you need to have sorted before the end of the financial year.
Get Your Stock Position Right
A clean stocktake is the foundation of everything your accountant needs. If you’re using Beacon’s Android PDT, you can run a live stocktake while you trade, which means you don’t need to shut the shop or carve out a full day to get it done.
A couple of practical tips from the Beacon team. Sync your PDT before you start so the stock file is live and accurate. Break the stocktake into manageable portions using your Stock Groups, rather than trying to do the whole store in one hit. Do confectionery in one session, ice creams in another, and work through it methodically.
Once you’re done, check for any non counted items. If you still have stock on hand for those, make sure you’re writing them off. Beacon can be set up to automatically reset non counted items to zero after a stocktake, which removes that manual step entirely.
You’ll also want your supplier tax invoices entered and completed before 30 June. If invoices are sitting unprocessed, your stock position and your margins won’t reflect reality.
Pull Your Reports Before Roll
Beacon keeps the current and previous financial year’s transactional data in the live system. When you roll EOFY on 1 July 2026, it will archive everything prior to 1 July 2025. That means if you need reports for the 2024/25 financial year, run them before you roll.
For category breakdowns, the Sales Category Analysis report is your go to. It can be run across your entire site or a range of groups, for any period from one month to twelve, and shows quantity sold, dollar sales, cost, profit and GP percentage. The Stock Margin Analysis report goes a step further by factoring in stock write offs and variances from stocktakes.
If you just need a clean view of sales broken down by group, the Day Sheet report can be run over longer periods.
One thing worth remembering: your reporting is only ever as good as the data going into the system. If stock hasn’t been received in correctly or maintenance has been neglected during the year, your margins and GP figures won’t be accurate.
Review Your Hardware
If any of your POS hardware is due for replacement, now is the time to act. The $20,000 instant asset write off threshold applies for the 2025/26 financial year, covering eligible assets that are purchased and installed ready for use before 30 June 2026. The threshold applies per asset, so multiple items can each be claimed individually. From 1 July 2026, without further government action, the threshold drops back to $1,000, so the window is closing.
POS terminals, screens, printers and scanners all qualify. If you’ve been putting off a hardware upgrade, this is the financial year to do it. Talk to Beacon’s Professional Services team about what’s involved and lead times, because the asset needs to be operational by 30 June, not just ordered.
Clean Up Customer Accounts
If you use Beacon to manage customer accounts, EOFY is the time to tidy them up. Write off any bad debts and pass those transactions through to your accountant. Process any unallocated payments so your accounts are clear and it’s obvious what’s genuinely outstanding.
Coming in Part 2: How to Actually Run the Rollover
Now you know what needs to be done before 30 June. But what happens when the clock ticks over?
In Part 2, we’ll walk you through the rollover process step by step: how to lock down staff access for former employees, the backup you absolutely cannot skip on 30 June (and why it’s your lifeline for accessing historical data), exactly how to roll your EOM and EOFY in Beacon, and the post rollover cleanup that will have your system running leaner and faster for the new financial year. We’ll also cover how to book a Professional Services system review if you want a fresh set of eyes on your setup heading into 2026/27.
Don’t miss it.