Month: August 2026

ATO HECS and payroll setup should be checked before an employee’s first pay run because incorrect study loan information can affect how much tax is withheld from their pay. Employers should make sure employee declarations and payroll settings for Study and Training Support Loans (STSL) withholding are recorded correctly before processing wages. This matters when…

ATO business services should broadly align with the information recorded in your bookkeeping software, especially where figures are used to prepare tax, payroll and Business Activity Statement (BAS) reporting. When the numbers do not match, it can make it harder to lodge accurately and understand what your business really owes. For small businesses, regular bookkeeping…

How to Record Assessable Government Industry Payments in Your Accounting Software starts with confirming why the payment was made, whether it is assessable income, and whether Goods and Services Tax (GST) applies. Coding a deposit straight to sales can overstate business income, place GST in the wrong part of your Business Activity Statement (BAS) or…

Assessable Income in Your Books should be recorded clearly so sales, government grants and other receipts can be reviewed without confusion at Business Activity Statement (BAS) or year-end time. When every bank deposit is treated as sales, your gross income can be overstated, and your bookkeeping may no longer reflect what actually happened in the…