Planning for EOFY? Here’s how a Chartered Accountant turned CEO tackles it

End of the financial year (EOFY) isn’t just about ticking boxes - it’s a chance to tighten the bolts and set your business up for the year ahead. 

Marc Levin, JasonL’s co-founder and CEO (and yes, a former Chartered Accountant), shares how he approaches EOFY budgeting season with a clear head, sharp numbers and zero fluff. 

Whether you’re running a team of ten or a hundred, these tips will help you cut through the noise and make EOFY work for you.

With your background as a chartered accountant, how has your perspective on end-of-financial-year budgeting changed since becoming a CEO?

I think there are two sides to this. As a CEO, at this time of year, I start looking at the budget for the next financial year. As a company, we begin discussions - especially with the executive team - to understand everyone’s requirements, where we plan to grow, and where we should invest. 

We work to align our ideas around progress, growth, and investment with the budget we want to set.

On the other hand, as a former chartered accountant, I make sure to take advantage of the latest tax incentives. This year, for example, the Australian Government announced it will continue to support small businesses by extending a $20,000 instant asset write-off limit for a further 12 months, until 30 June 2025. (Want to learn more? Find out more about this here instant asset write off here)

What key financial indicators do you review most closely in the final quarter of the year, and why?

In the final quarter, I focus on Actuals vs Budget, Headcount, Profit, and Intended Growth for the following year. I compare last year’s actuals against the budget to evaluate how accurately we predicted our numbers.

I also review headcount to assess whether we’re adequately resourced or whether we need to invest in new talent. Profit is another critical area - not only does it show how we performed against projections, but it's also what enables us to reinvest in people, growth, and infrastructure. Profit is absolutely key in our business.

How do you decide whether to carry forward unspent funds or reinvest them back into the business before year-end?

We always allocate unspent funds - or what we identify as profit for the year - proportionately. Some of the profits go to the management team, some to founders and equity holders, and the remainder is reinvested into the business.

What’s your approach to balancing practical needs - such as operations or equipment - with investments that support long-term growth?

We aim to budget for both operational needs and equipment investments. We assess where and how we intend to grow, and how that growth will impact our operational infrastructure. Our budget includes both the tools and the changes needed to support that growth. We always allow for a slush fund - or “FAT” - in the budget for unforeseen expenses, although we do try to minimise surprises.

Can you share an example of a strategic reinvestment you made at year-end that had an outsized impact on your team or performance?

Over the past year, we’ve reinvested heavily in people, particularly in executive and mid-level management training and development. We’ve adopted a progressive approach called human-centred training, which combines one-on-one and group-based development. This has significantly elevated our leaders’ capacity and leadership styles, and we’ve seen a tremendous return from this initiative over the last 12 months.

How do you assess the return on investment for improvements that aren't directly revenue-generating, such as changes to the workspace or team tools?

I’m a strong believer in keeping our internal team happy. If the team loves what they do and has the right resources, support, and knowledge, they’ll naturally create great customer experiences.

Workspace quality, technology, company culture, and team support are all fundamental to our success. We track internal happiness through staff surveys and internal NPS scores. Ultimately, a low attrition rate and a thriving team are indicators that our internal investments are paying off.

Many business owners rush to spend surplus budget before 30 June - what would you caution them to consider first?

This depends on the industry and how the business manages its budgeting. In government, for example, there’s a “use it or lose it” mentality that can actually drive positive economic impact.

In the private sector, however, spending purely for tax incentives should be approached with caution. My advice is: ensure your business is profitable first. If there are legitimate needs - whether operational or strategic - and your cash flow supports it, then by all means make the investment and take advantage of available incentives.

What role does employee wellbeing or team morale play in your EOFY decision-making process?

Employee wellbeing, morale, and culture are not just EOFY considerations - they’re year-round priorities. At JasonL, we budget for these elements from day one.

As I mentioned earlier, happy employees deliver happy customers. We value work-life balance and mental health, and we place team wellbeing at the top of our list.

Do you think the physical work environment can influence a company’s ability to attract and retain top talent?

Absolutely. There’s a direct link between the physical work environment and employee engagement. A well-designed space can improve morale, productivity, and overall job satisfaction.

Using natural light, warm tones, and soft furnishings helps create a supportive and safe workplace, which is far more attractive to top talent than a sterile, uninspiring one.

If you could offer three EOFY planning tips to other business owners, what would they be?

1. Know your numbers - closely. Understand your position both before and after EOFY, and spend with a clear view of where your business stands.

2. Use this period to consolidate your leadership team’s thinking. Reflect on the past year’s results to inform next year’s planning.

3. Celebrate the year! Too often, teams rush into the next cycle without acknowledging how much has been achieved. Take the time to celebrate the wins.