Tag: online 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…

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…