Tag: bookkeeping errors

ASIC Annual Review Reminders help Australian companies keep important company dates visible before payment or lodgement deadlines arrive. For busy business owners, adding the annual review to a bookkeeping calendar can make it easier to monitor the annual statement, annual review fee, company details and other Australian Securities and Investments Commission (ASIC) obligations without relying…

Preparing for Your Business Tax Return starts with making sure your bookkeeping records are accurate, complete and ready before your accountant or registered tax agent begins the tax return process. For a sole trader or small business, organised bookkeeping also makes it easier to provide the information needed to lodge your tax return. Instead of…

Bookkeeping advisory for SMEs gives business owners accurate financial information, practical guidance and clearer insights for making informed decisions. When records are incomplete, inconsistent or several months behind, it becomes difficult to manage cash flow, monitor costs, meet compliance requirements or understand whether the business is moving towards its financial goals. Reliable bookkeeping supports more…

Accrual vs cash accounting affects when your business records income and expenses, which can significantly change the results shown in your financial reports. Cash accounting focuses on actual payments, while accrual accounting records revenue and expenses in the reporting period in which they are earned or incurred. The appropriate treatment for income tax and Goods…