Quarterly BAS and EOFY Sorted: How MKS Group Takes the Stress Out of Business Accounting

- mksgroup

Quarterly BAS due. Payroll finalisation looming. EOFY around the corner. For many Melbourne businesses, these words trigger a familiar mix of late nights, spreadsheet juggling, and “is this right?” anxiety. It doesn’t have to be that way.

At MKS Group, we turn BAS, GST and compliance, and EOFY help into a calm, repeatable rhythm, so you can focus on running (and growing) your business. Here’s how our approach as your business tax accountant delivers fewer surprises, cleaner numbers, and more confident decisions.

What’s really involved in BAS and EOFY (and why it’s stressful)

On the surface, BAS is about reporting GST, PAYG withholding and instalments to the ATO. EOFY is about finalising payroll, lodging tax returns, and closing the books. In practice, both depend on everything that happens during the year: how your systems are set up, how transactions are coded, and whether bank accounts, payroll and inventory actually reconcile.

Common pressure points we see before a BAS or at year-end:

  • Messy coding (GST-free, input-taxed, overseas purchases, fuel tax credits)
  • Unreconciled bank feeds and suspense accounts that never got cleared
  • Payroll complexities (awards, allowances, super, STP Phase 2 mapping)
  • Inconsistent stock/WIP methods creating margin and GST errors
  • ATO deadlines arriving before you’ve got clean data

Our job is to remove these weak points long before the deadline, so “lodgement week” is just a tick-box exercise.

BAS support that works all year, not just at quarter-end

We offer BAS support as a program, not a panic button. That means:

1) A clean system from day one

We configure Xero to match your business model, chart of accounts, tracking categories, GST tax codes, and bank rules that prevent mis-coding. For product or project-based businesses, we also set up inventory or WIP so your GST and margins aren’t distorted.

2) A monthly “mini-close”

Every month, we reconcile bank, loans and clearing accounts; review payroll and super; and check GST coding on unusual transactions. By quarter-end, the numbers are already tidy.

3) Proactive BAS review

Before lodging, we run a GST reasonableness check against revenue and expense patterns, scan for outliers, and validate PAYG withholding. Where needed, we adjust for accruals, prepayments, and corrections, so the BAS reflects reality.

4) Lodgement & follow-through

We lodge your BAS on time (including agent extension where applicable), monitor ATO accounts, and set up payment plans if cash is tight. If the ATO asks a question, we deal with it, no more letter dread.

Result: predictable quarters, clear cash obligations, and fewer “please explain” moments.

EOFY help without the scramble

Year-end should feel like a formality, not a fire drill. Our EOFY help covers the full journey from pre-June planning through to signed returns.

Pre-June tax planning

  • Forecast the full-year position and estimate tax, not guess it
  • Review structure (company/trust) for risk and tax effectiveness
  • Time asset purchases and write-offs sensibly (no last-minute panic buying)
  • Map dividends, trust distributions and franking implications

Payroll finalisation

  • Check STP Phase 2 mapping of earnings, allowances and deductions
  • Reconcile super, payroll tax and leave balances
  • Publish Income Statements to employees on time

Year-end close & returns

  • Stocktakes/WIP valuation aligned with your method
  • Balance sheet clean-up (intercompany, clearing, loan accounts)
  • Company, trust and individual returns prepared and lodged
  • Clear management report that explains what changed and why

Outcome: no surprises, compliant lodgements, and a clean base for the new financial year.

GST and compliance: we sweat the details so you don’t have to

GST can be deceptively tricky. We keep you on the right side by:

  • Ensuring the right GST codes for common edge cases (imports, exports, mixed supplies, government grants, insurance, motor vehicles)
  • Handling adjustments (change-in-use, bad debts, prior-period corrections)
  • Aligning POS/e-commerce feeds so GST on online sales matches settlement reports
  • Checking contractor vs employee settings to avoid PAYG and super traps
  • Coordinating PAYG, payroll tax, super and STP timelines into one cash calendar

Our approach means GST isn’t a last-minute checkbox, it’s accurate by design.

What working with MKS Group feels like (our operating rhythm)

Kick-off & tidy-up

We review your file, fix the coding, tune the chart of accounts, and close any open loops (unreconciled lines, historical issues). You’ll know exactly what’s been cleaned and what needs a process tweak.

Monthly hygiene

Light-touch routines keep your engine humming: bank recs, payroll checks, GST spot reviews, and a quick note if something looks off. You get clarity without being dragged into the weeds.

Quarterly BAS pack

We send a short pack with the key movements (revenue, GST collected/paid, PAYG) and a clear “sign and lodge” path. If cash is tight, we’ll help sequence payments or discuss ATO options.

Quarterly review (optional but recommended)

We step back from compliance and look forward: pricing, margins, cashflow, and capacity. A simple dashboard puts profit and cash-in-bank on one page, so you make decisions with confidence.

EOFY runway

By May/June, your tax position is forecasted and options are on the table. Post-30 June, your year-end is a smooth close, not an archaeological dig.

Want to learn more about how we can help you with this topic? Get in touch today: hello@mksgroup.com.au


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