Elite Payroll does not require you to do anything at the end of the financial year. It automatically resets the employee YTD figures when you process the first pay in the new financial year.
If you have a large number of employees you may wish to archive the previous financial years pays and terminated staff to another file. This will ensure that Elite Payroll will operate as fast as possible.
When archiving information out of your file, be sure to keep multiple backup copies. You will need them if the ATO decides to audit you.