End of Financial Year Resources
The end of a financial year is a busy time for any business. Let Sybiz take the hassle out of the process with these recommended best practices for Sybiz Vision and Sybiz Visipay.
Disclaimer: The material provided here is for general purposes only, and nothing conveyed or provided should be considered legal, accounting, HR or tax advice. Please direct questions of a legal or tax advice nature to your advisors or the local tax authority.
Australian EOFY Webinar
Register today for the 2026 Australian End of Financial Year Webinar
Each year in June prior to the end of the Australian financial year, Sybiz holds its annual webinar full of tips and tricks to demystify the processes and best practices for preparing reports and finalising data entry to greet the new financial year with a clean slate.
Register today for our free webinar on Monday, 22 June 2026 at 10:30 a.m. ACST (Adelaide time). By registering, you'll receive a copy of the recording once it's available.
Sybiz Vision
Apart from creating a new financial year, there are no Sybiz Vision-specific processes required at the end of the financial year. Individual business will have their own unique end-of-year accounting process depending on the nature of the business and the specific modules in use.
We recommend the below best practices for a smooth transition to the new financial year. Seek assistance from your Authorised Sybiz Business Partner if required.
Sybiz Visipay
Sybiz recommends the latest version of Sybiz Visipay before performing end of financial year tasks. This version will contain the most up-to-date enhancements and improvements to the software, which may include changes introduced by legislation, such as the introduction of Payday Super for Australia at the beginning of the 2026/27 financial year (Tax scale updates are version-independent). Plan with your Sybiz Authorised Business Partner to complete any necessary upgrades before the crunch time.
Australia: Sybiz Visipay 26.10 is the minimum version that works with the new Payday Super reporting requirements, and users are required to update to this version or later before rolling into the 2026/27 financial year. Seek assistance from your Authorised Sybiz Business Partner if required.
By reconciling monthly, if something requires attention it only requires review of one month of the financial year to find the issue. Save yourself the headache by staying on top of errors and irregularities.
Look for any missing entries or other gaps in your data.
Pay periods that span the end of the financial year are to be reported in the year in which they are paid.
We highly recommend making use of report sets at the end of the year. Learn more about report sets here.
Based on the reports you've run, make any necessary adjustments to bring things into alignment. This is where report sets come in handy; a single adjustment may impact multiple reports, and it's much easier to group reports together and run them with a single click.
Regular, system-wide backups are a cornerstone of data security. Discuss with your IT professional how best to capture and store your backup data, whether it's kept off-site, offline, in the cloud, or a combination of several options.
The Final Event Indicator is a specialised STP event in Sybiz Visipay which indicates to the ATO that you no longer intend to submit any further STP data for an employee for the remainder of the financial year. A Final Event Indicator can be completed in the 'current' year or the 'prior' year after 30 June.
Complete the Statement of Salary and Wage Earnings (SOE) via the Utilities menu to produce the SOE file.
We recommend you don’t roll until point that you need to for processing pays in the new financial year. This allows you time to make any necessary adjustments before the period is closed entirely. Waiting until the first pay of the new financial year gives you a greater window of opportunity to make any necessary adjustments.
Tax scale update are automatically downloaded by Sybiz Visipay and will be applied.
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Beretta Australia
By embracing Sybiz Vision’s capability to enhance workflows, provide highly customised insights, and a view towards utilising the great functionality introduced in our latest release, Beretta is dedicated to staying ahead of the competition.