Starting FY27 Right: A Key Checklist For A&E Firms

The start of a new financial year isn’t just about finalising accounts or ticking boxes. For architecture and engineering firms, it’s a critical moment to step back and assess how your practice is really performing, and how well it’s positioned for the year ahead. 

As the Australian market moves into FY27 on 1 July, we’ve seen the goals and priorities of A&E firms be consistent: clearer visibility into project performance, more accurate workload forecasting, and the ability for leadership to act quickly when conditions change. EOFY is the natural point to review what’s working, identify blind spots, and put stronger foundations in place before budget season begins. 

If you haven’t already wrapped up FY26 properly, those loose ends will follow you into July and beyond: muddying your numbers, complicating your forecasts, and making it harder to manage projects clearly from day one. 

Here’s what firms in Australian should’ve already done, and what to prioritise now if you’re behind. 

Software & Subscriptions

The start of a new financial year is the ideal time to review the tools your firm relies on every day. A review of software subscriptions, renewal dates, price increases and usage can not only cut costs, but also ensure your tools are supporting visibility, efficiency, and informed decision-making. 

• Review all software subscriptions and licenses 
• Remove licenses for inactive or former staff 
• Review renewal dates, contracts and price increases 
• Take stock of software usage 

Compliance & Payroll

Wrapping up FY26 means that firms need to check for any outstanding leave entitlements that need to be paid out or carried over, as well as getting across any regulatory changes. The Australian Government’s Payday Super reform takes effect from 1 July 2026, requiring employers to pay super at the same time as wages rather than quarterly. For most A&E firms, this means a significant change to payroll workflows and cash flow planning. 

• Finalise and lodge your FY26 payroll data via Single Touch Payroll (STP) finalisation by 14 July 2026 
• Get across Payday Super obligations 
• Issue payment summaries or income statements to staff by 14 July 2026 
• Reconcile your PAYG withholding and super contributions against your payroll records

Project & Financial Review

Starting FY27 with an in-depth review of projects and finances over the past 12 months can be vital, even for high-performing firms and teams. Analysing performance helps uncover whether pricing, scope control, and invoicing aligned with reality throughout the year and what (if anything) needs to change moving forward. 

• Review project profitability across the previous year, including realisation rates 
• Reconcile all WIP: confirm what’s been invoiced, what’s still outstanding, and what needs to be written off before the year closes 
• Confirm fee structure reflects actual effort 
• Generate a summary of financial transactions to analyse revenue

Budgeting & Forecasting

To enter FY27 with clearer expectations and fewer surprises, firms need to start by addressing budgets and revenue forecasting early on. This could look like setting aside budget for a new software tool or reviewing projected pipeline against available resources.  

• Set project budgets for confirmed FY27 work, including staged fee forecasting where scope isn’t fully locked 
• Review your resource plan against known project starts and pipeline. Do you have the capacity to deliver? 
• Update your fee schedule or rate card if charge-out rates are changing in FY27 
• Identify projects carrying over from FY26 and confirm the remaining budget and scope in your system 
• Budget for all relevant software needs 

Team & Capacity Planning

Entering a new financial year also offers a valuable checkpoint for firms to access utilisation, resourcing, and upcoming workload, ensuring the right people are in place as project demands shift in FY27. This includes everything from hiring needs to talent retention and if done right, can make all the difference for the year ahead. 

• Review hiring needs and future capacity gaps 
• Identify skills shortage or single point dependencies 
• Confirm onboarding and training processes 
• Review development goals and retention risks 
• Reset utilisation targets 

Reporting & Visibility

Most firms have the data, but few actually use it. Before FY27 planning kicks off, make sure leadership has a clear view of how the year really went: not just the headline numbers, but which project types, clients, and team structures drove margin. 

• Review your overhead recovery and profit margin against targets set at the start of FY26 
• Share a performance summary with principals and directors before FY27 planning gets underway 
• Define the key metrics to track next year 

Update Your FY27 Rates, Controls & System Settings

At EOFY, firms should not only clean up old project data. You also need to check the settings that will drive the accuracy of every project, invoice, margin report and forecast in the new financial year. 

• Review staff costs and charge-out rates in your practice management system 
• Review rate groups and overtime rates, especially for lower-paid staff, to make sure award or minimum wage changes in Australia have not pushed your current rates out of date 
• If business rates are increasing, make sure this is reflected in your systems and communicated to clients  
• For long-running projects, confirm whether rates are locked by contract or should be updated. If a project is linked to standard rates, a rate table change may affect future billing, so this needs to be checked before applying broad updates 

Starting FY27 on The Front Foot

The firms that perform best through the year aren’t necessarily the ones that planned more. They’re the ones who closed the previous financial year cleanly, know their numbers, and have the systems in place to act quickly when conditions shift. 

With the proper preparation, the start of a new financial year can be the foundation for more accurate budgets, realistic forecasts, and faster leadership decisions moving forward.  

Leaders can make confident decisions about what comes next based on data from FY26, turning hindsight into foresight. Alignment around targets, key metrics and reporting early on in FY27 also creates a shared vision of success and improves accountability across the firm.  

Now is the time to reevaluate what’s working and what’s not, and dig into how your firm can become more profitable and efficient through FY27.  

Prepare for FY27 with Total Synergy

EOFY is a pivotal time; not only to close the books, but to gain clarity on performance and plan confidently for the next financial year. With over 25 years of experience simplifying how A&E practices manage projects and finances, Total Synergy is purpose-built to help firms use EOFY as a strategic reset, not an administrative burden. Instead of relying on spreadsheets and disconnected systems, we let you review performance accurately, forecast with confidence, and act quickly when priorities shift. 

Total Synergy provides project management software for architects and engineers, backed by customers in Australia, New Zealand, and the United Kingdom. By giving teams real-time visibility into project health, WIP, and future workload, Total Synergy can help you enter the new financial year with greater control, stronger profitability, and clearer direction. Book a demo today to learn more.