Get Your Accounts in Order for the EOFY

If you haven’t already submitted your paperwork ahead of the end of the financial year on the 30th of June, make that your first priority. Our detailed guide to NDIS business practices for the EOFY covers everything you need to know, from tax deductions for unpaid invoices to what to do if you're missing receipts. Your prime concerns, however, should be to:

#1 Review Your Paperwork

Make sure you know which tax returns you need to log, and review your accounts ahead of time. Look out for:

• Incomplete tax files 

• Incomplete payroll and/or super contributions

• Bad debts 

• Missing receipts

• Incomplete PAYG payment summaries

Your accounting software should help you spot any issues, especially if it integrates with your NDIS software. 

#2 Make All Outstanding Payments

Check what you need to pay and when. Remember that there may be benefits for early payment. For example, super contributions don’t have to be made until the 28th of July, but concessional contributions will need to be made by the end of the financial year.

Start the New Financial Year Off on the Right Foot

Once you've wrapped up the past financial year, begin looking to the future. Careful planning will help you avoid stress at tax time and grow your NDIS business. Make sure to:

#1 Add Key Dates to the Calendar

Add all your tax, payroll and super deadlines to your calendar so you’re not surprised next year. In addition to finance-related dates, NDIS-registered providers should add any audits and their registration renewal application, if relevant. We recommend also blocking off time in your calendar specifically for preparing this paperwork.

#2 Set Up Good Accounting Systems

Optimising your accounting processes now will save you weeks of stress during tax time next year. Make sure to integrate your accounting and payroll software with your scheduling and shift records. This will enable you to automate most of your accounting and create a perfect digital paper trail. Plus, it helps prevent errors, whether from overlooked expense receipts or typos in data entry. 

The best NDIS software will also auto-generate bulk NDIS claims so you can reduce your workload and avoid payment delays.

#3 Update Your SCHADS Award Pay Rates and NDIS Price Limits

The NDIS Pricing Arrangements change at the start of the financial year so make sure you’re using the updated figures.

If any of your workers fall under the SCHADS award or Aged Care Award, they could receive a 15% minimum wage increase from the start of their first full pay period on or after 30 June 2023. The SCHADS Award is a vital regulation that sets out employment conditions for workers in social and community services, encompassing the home care and disability sectors.

Even if your support workers aren’t affected by this particular increase, the SCHADS award is due to be reviewed in 2023. You should prepare to update your workers’ pay points as required.

The SCHADS award is notoriously complex, with approximately 3,000 pay points plus allowances. Fortunately, NDIS software solutions can support you. Create pay groups and allowances so that you don’t have to manually update your support workers’ rates one by one. 

Stay compliant with the "Comprehensive SCHADS Award Guide for ShiftCare Users." This ebook, co-authored by Garth Belic from PayCat, serves as your essential guide through the complex and often perplexing SCHADS Award.

Our guide simplifies the SCHADS Award, providing a clear summary and detailing the key points you need to understand as a care provider. We also have a webinar available on the topic of SCHADS, click here to watch.

#4 Review Your Business Plan and Strategies

Low-profit margins are a major issue for the disability industry, with fewer than half of NDIS service providers making a profit. The end of the financial year is the ideal time to review your business plan to find out what’s working and what isn’t. 

Use your NDIS software’s auto-generated business reports to get hard data on how your organisation is performing. This will give you insights into which business strategies you should focus on.

#5 Create an Updated Marketing Plan

Take time to reflect on the past year. Which NDIS marketing efforts have been successful? Which messages have resonated most with potential clients? And which haven’t? 

A steady stream of new clients is key to success, but the best ways to find NDIS participants are constantly evolving. Our comprehensive guide to NDIS referral channels is a great starting point as you begin updating your marketing strategy. Make sure to track your results so you can measure the return on investment.

It’s also worth reviewing your NDIS client management system so that it’s easier to quickly onboard new clients, manage their funds and get their first services scheduled.

Marketing can be particularly challenging for NDIS non-registered providers, with NDIS unregistered providers unable to work with NDIA-managed and plan-managed participants. However, no matter your registration status, an effective strategy for promoting your NDIS services is essential for business growth. Successfully marketing an NDIS business is no simple task. It comes with its unique challenges and hurdles. The disability and aged care sector is marked by intense competition and rapidly changing trends and regulations. Read our Ultimate Guide to Marketing Your NDIS Provider Business for more insights on the best methods and strategies to market your NDIS business.

#6 Touch Base With Your Staff

Support workers are the backbone of any NDIS business, but 83% of providers report struggling to recruit staff. 

As the end of the financial year comes to a close, review your retainment and recruitment strategies. Check-in with your support workers: are they motivated and happy? If not, how can you improve that?

Make sure you’re using your NDIS software to give your staff greater control over their rosters. Encourage them to set their preferred shifts and bid on new work via the mobile app so that they have the work-life balance they want. 

Automated Systems That Create a Smooth EOFY

With ShiftCare's NDIS software, you can spend less time on admin work and more time delivering quality disability support — no matter what period of the year it is. It comes with powerful rostering features, documentation sharing, client funds management, built-in NDIS price guides, payroll and accounting integrations, and auto-generated business reports.

Plus, ShiftCare's live customer support has a 96% positive satisfaction rating. You won’t be left struggling to auto-generate financial reports or update expired documentation: we'll be there to help at every stage.

Discover how the right tools can empower your business to thrive in the year ahead. Try ShiftCare for free.