End of Financial Year

We thought you’d like to check these tips to help get organised before the End of Financial Year

STOCKTAKE REPORTS
To ensure your stock levels are correct for the end of the financial year we recommend that you perform a Stocktake. To do this, simply follow these steps:

Go to the Stock screen of your Hairware Beautyware screen, or press F3.
Select option number 3, stock reports.
Click number 6, Stock take reports.
Select the report you wish to print.
Once this is printed, check your stock levels against the report. If you need to adjust any information, you can do so in Stock update list (F3 , 1, 3, 3)

 

RETAIL & PROFESSIONAL STOCK REPORTS
Now that everything is up-to-date in the system, we recommend you also print your Retail and Professional Stock Reports.
To find the retail stock report: press F3, select option 3, and then option 2.
To find the professional stock report: press F3, select option 3, and then option 5.
These reports will give you accurate information about your current salon’s stock.

 

SINGLE TOUCH PAYROLL FINALISATION

If you are using Single Touch Pay with your Hairware or Beautyware system and your pay period is either weekly or fortnightly, the STP system will automatically select your final pay period for the financial year.

When submitting the last period of the financial year, make sure the “Last pay for financial year” option is selected before sending your STP submission.
This will indicate to the ATO that there will be no more payments for the financial year.

Please make sure your software is updated to the latest version for access to this feature by clicking on ” Check for updates” on the Hairware Beautyware Menu

 

Please check with your Tax Agent or Accountant for any other year-end tax requirements.

 

Don’t forget our amazing support team are here to answer your questions
on 1300 880 582, then select option 1

As amazing as they are, our support team cannot offer any tax advice, Please contact your tax advisor prior to calling.

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