Do I need to do anything for EOFY in my Aro sales trust account?

Do I need to do anything for EOFY in my Aro sales trust account?

No. In your Arosoftware Sales Trust account, you do not need to run a separate "Year End/EOFY" process. Instead, simply perform your usual June End of Month (EOM) reconciliation and reports.

Before the EOFY, however, you should take the opportunity to review any funds remaining on trust account ledgers. 
This includes:
  1. Unspent Vendor Paid Advertising (VPA): Ensure these funds are returned to your sellers where the listing is no longer being marketed.
  2. Deposits held on unsuccessful offers or terminated contracts returned to the buyers.
  3. Identifying any unclaimable funds (where a contact cannot be located) that have reached your state's statutory time limit, so you can begin the process of lodging them as Unclaimed Money with the relevant state government authority (e.g., the QLD Public Trustee or your State Revenue Office).
  4. Undrawn commissions: Ensure these are transferred to your General Trading account.