What Your Year-End Accounts Actually Tell You (And How to Get Them Done Faster)
Every year around this time, we ask clients for the same information. Most find it a bit tedious. Here is why it matters, and what you can do to make the process quicker.
The 31 March year-end
New Zealand's financial year ends on 31 March. That means we are now preparing accounts for the year ended 31 March 2026. These accounts form the basis for your income tax return, your GST reconciliation, and your understanding of how the business actually performed.
What year-end accounts include
A standard set of year-end accounts for a small or medium NZ business typically includes:
- A profit and loss statement (what you earned and spent)
- A balance sheet (what you own and what you owe)
- Notes to the accounts (detail on key items)
- Your tax calculation
If your business has a loan, a mortgage, or lease liabilities, those appear on the balance sheet. If you hold stock, the value of that stock is also included.
What we need from you
The faster you get us the following, the faster your accounts are done:
- Bank statements for all business accounts, 1 April 2025 to 31 March 2026
- Credit card statements for business purchases
- Debtor list (money owed to you at 31 March)
- Creditor list (money you owe at 31 March)
- Stock on hand at 31 March, if applicable
- Fixed asset purchases during the year
- Loan statements with 31 March balances
- Wages and PAYE records
- Personal drawings, if you are a sole trader or in a partnership
If you are on Xero, a lot of this is already captured. The main gaps are usually bank reconciliation, loan balances, and correctly categorised transactions. Log in and check your reconciliation is up to date before we request your file.
What the accounts tell you
Your year-end accounts are more than a compliance document. They show:
- Whether the business is actually profitable, not just cash-flow positive
- How your margins compare to previous years
- Where costs have increased
- How much equity you have in the business
- Whether your business is in a strong enough position to take on debt, hire staff, or make a major purchase
Most business owners look at their bank balance. Your accountant looks at the whole picture. That conversation is more useful when you have had a chance to look at the accounts yourself before we meet.
The 7 July deadline
If you are self-filing, your IR3 income tax return is due 7 July. If you are a McLaren Guise client, your deadline is extended to 31 March 2027. But earlier filing means earlier refunds and earlier certainty about what you owe.
Get your information to us as soon as you can. If you are not sure what to provide, contact us and we will send you a specific list for your situation.