The clock is ticking. If your balance date is 31 March, a few smart moves this week can save tax, cut stress, and set you up for a stronger year. Miss the basics and you risk penalties, messy books, and cash leaks that are hard to spot later. This checklist shows you what to do now, in a clear order, so you finish the year tidy and start the next one confident. 


Mark your calendar: key NZ dates you cannot miss

31 March is the standard balance date in New Zealand. Treat it like a finish line with a short sprint right now. Aim to have your books up to date, any stock counted, payroll current, and key decisions made by this date. After balance date, focus on the filings.

  • Your income tax return is due by 7 July if you file yourself.
  • If you are with a tax agent, you will usually have an extended filing deadline up to 31 March next year.
  • If you are registered for GST on a two monthly or six monthly cycle with a 31 March period end, that GST return is due 7 May.
  • If you pay provisional tax, the final instalment for a 31 March balance date is usually due 7 May.
  • Terminal tax for those without a tax agent is generally due by 7 February of the following year.

Put these dates in your calendar today and set reminders a couple of weeks ahead so nothing slips.

Get your records in shape

Start with your bank accounts. Reconcile every business bank, credit card, and loan account to 31 March so there are no loose transactions. If a payment or deposit is sitting unexplained, code it now while it is fresh in your mind. Do the same with any payment platforms you use, like Stripe or PayPal, to make sure those flows are captured in your books.

Next, give your income and expenses a quick health check. Confirm every sale and other income item is recorded and that expenses are in the right categories. Run your profit and loss and balance sheet for the year and sanity check the numbers. Update your fixed asset register for gear you bought, sold, or scrapped during the year, and make sure depreciation is posted. If you carry any stock or job materials, complete a simple stocktake at 31 March and record the value.

Tidy up money in and money out

For service businesses, cash is often trapped in unpaid invoices. Pull an aged receivables report and follow up anything overdue. If a debt is not going to be collected, and you use accrual accounting, write it off in your ledger by 31 March so you can claim a bad debt deduction this year. Keep a short note in your file showing your attempts to collect. If you are on a cash basis for income tax or GST, the timing can differ, so check your settings before you adjust.

Do the same for bills. Make a list of all supplier invoices dated in March that you will pay in April. Under accrual accounting, recording those creditors now ensures the costs land in the correct year. If you use cash accounting for tax or GST, the deduction or GST claim may occur when you pay, not when you record the invoice. Check any regular subscriptions that hit on the first of the month and capture March’s portion. This tidy up gives you a truer profit number and avoids annoying cleanup work later.

Claim what you can: common deductions for service businesses

Small wins add up. Capture every legitimate business cost so you do not leave money on the table.

  • Vehicle and travel: claim the business portion of fuel, insurance, maintenance, parking, and work trips. Keep a simple record to support the split between business and personal use.
  • Home office: if you worked from home, claim a fair share of rent or mortgage interest, power, internet, and phone based on floor area or actual use.
  • Tools and tech: deduct computers, screens, phones, software, and other equipment used for work. Larger items may be depreciated over time. Record purchase dates and costs.
  • Marketing and professional services: claim advertising, website costs, subscriptions, accounting, legal, and consulting fees incurred during the year. Deductibility depends on a clear link to earning income and correct apportionment. Some costs, like certain legal fees or major website development, may be capital and not immediately deductible.

If you were planning to buy essential gear or software soon, consider doing it before 31 March so the cost falls into this income year. Treatment depends on what you buy and how you account. Low value assets may be fully deductible. Larger assets are usually depreciated over time. Cash vs accrual accounting can affect when the cost is recognised.

Sort your GST and PAYE

If you are GST registered, make sure all sales and expense coding includes the correct GST treatment, then reconcile your GST ledger to confirm that GST on sales matches what you have returned and that GST on expenses has been claimed correctly. If you used a business purchase privately at any point, adjust your GST claim to reflect the private use portion under the apportionment or change in use rules. Some low value or principal purpose items are subject to different thresholds and adjustment periods.

File any outstanding GST returns and schedule payment for the March period by the due date. If you have employees, confirm that all payday filings have been submitted on time and that PAYE, KiwiSaver, student loan deductions, and employer contributions have been paid. If you provide benefits to staff, such as a company vehicle available for private use, review whether Fringe Benefit Tax applies and prepare any required returns.

Close out payroll and leave

Payroll should match reality at year end. Check that every pay run, bonus, commission, and deduction is fully processed and reflected in your accounting system. Review leave balances and ensure annual leave and holiday pay earned up to 31 March is correctly recorded against each employee.

If you plan to pay out bonuses or holiday pay relating to this year, aim to pay them promptly. Certain employee related accruals, like holiday pay and bonuses, may be deductible if paid within 63 days after balance date. Different rules can apply to shareholder employees. Finally, submit your final payday filing for the year so Inland Revenue has a complete picture of your payroll up to 31 March.


File the right tax return and plan payments

Sole traders generally file an IR3 that includes your business income alongside any other personal income. Companies file an IR4. Whichever applies, file by 7 July unless you have an extension with your tax agent.

Plan for payment at the same time you plan for filing. Newer businesses without provisional tax often pay the full year’s tax by 7 February of the following year. Established businesses usually pay provisional tax during the year, with the final instalment for a 31 March balance date due 7 May. Mark your payment deadlines now so you can protect cash and avoid late payment penalties and interest.


Keep cash flowing through tax season

Tax season is easier with a buffer. Estimate your expected tax bill using this year’s profit, then set money aside regularly. A simple rule of thumb for many service businesses is to reserve around 30 to 35 percent of each customer payment for income tax and ACC, adjusting for your situation. If you are GST registered, set GST aside separately.

If the final provisional tax instalment is due soon, schedule it now to avoid penalties. If cash is tight or a large tax bill looms, look into tax pooling or a payment arrangement so you can spread the cost and reduce interest. The key is to act early rather than scramble after a notice arrives.

Tune up your plan for the new year

Use the year-end pause to reset your plan. Review your last 12 months to see which services were profitable, which clients paid on time, and where projects slipped. Set a few clear financial goals for the new year, such as improving average debtor days, lifting gross margin, or building a three month cash buffer.

Update your budget and cash flow forecast, month by month, including tax and GST timing. If you see a gap, talk to your bank or finance partner early about options like an overdraft or working capital line. Review pricing and scope on your standard packages and adjust rates where needed to protect margins.


Admin you will thank yourself for later

Admin rarely feels urgent until something goes wrong. A short tidy now pays off all year.

  • Insurance: check that your business, liability, and cyber cover still fits the way you operate and the gear you own.
  • Contracts and leases: review supplier and customer terms, renew what you need, and renegotiate anything that no longer suits.
  • Systems: ensure your accounting and payroll software are current. Back up your data and check basic cyber hygiene, like strong passwords and multi factor logins.
  • Records: keep invoices, statements, payroll records, and tax filings for at least seven years. Store them in a secure, searchable place so you can respond quickly if IRD asks.

A quick ROLL tip to speed this up

If you use ROLL, you can view your Time Dashboard to see any missed invoicing before 31 March, then create invoices easily using our "invoice all unbilled time" option on projects.

Our "at a glance" month-end forecasts will show you any progress payment or fixed price project billing that's still due to go out as well, and our custom reports engine can help you find any other discrepancies in your time, costs, invoices or bills.


Your one week action plan

  • Day 1: Reconcile bank, credit card, and payment platform accounts to 31 March. Fix uncoded items.
  • Day 2: Sweep income and expenses for completeness. Update fixed assets and depreciation. Do a quick stocktake if relevant.
  • Day 3: Chase overdue invoices and write off unrecoverable debts if appropriate. List March dated bills so they land in this year.
  • Day 4: Reconcile GST and prepare the March period return. Remember the due date for 31 March periods is 7 May. Check PAYE, KiwiSaver, and any FBT needs.
  • Day 5: Finalise payroll and leave, submit the last payday filing, and map your tax filing and payment dates. Update your budget and set three financial goals for the new year.

Wrap it up by blocking an hour next week to review progress and lock in any remaining tasks. A tidy year end is not about perfection. It is about making the important things accurate, filed on time, and ready for a stronger start on 1 April.



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