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1 |
Business Bank Statements
Have all your bank statements ready for the financial year you are preparing for.
If you do not have them, you will need to obtain copies from the bank or print from internet banking. |
2 |
Credit Card Statements
Have all credit card statements ready for the financial year you are preparing for.
If you do not have them, you will need to obtain copies from the bank or print from internet banking. |
3 |
Receipts
Have all receipts ready i.e. credit card receipts, cash receipts, electronic payment receipts from internet banking, bills paid/unpaid and cheque book receipts. |
4 |
Invoices
Invoices that the business has generated and payments made. Payment receipts such as a remittance advices and deposit book. |
5 |
Payroll
Details of employees, i.e. contact details and Tax File Number. If paid on a salary, have their contract letter handy to confirm gross payments. If they are paid on an hourly basis, have the rate handy and timesheets of hours worked. Always remember employees must complete a Tax File Declaration Form upon commencement of work. These can be obtained from your local newsagent.
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6 |
Business Activity Statements
Have all relevent BAS statements available for the bookkeeper to reconcile your ATO liabilities. Bookkeepers can prepare the BAS for you. |
7 |
Loans
Always remember to have available details on business loans. Statements are the best form of paperwork for bookkeepers. It allows them to see the commencement of the loan along with the interest repayment activities. |
8 |
Automatic Deductions
Often business forget about their automatic deduction from their bank account i.e. motor vehicle repayments, insurance policies, equipment loans etc. Make sure that you list this information as well as have the documentation to backup the deductions for further inquiries. |
9 |
Filing
Try to file your documents the best you can. Keeping relevant documents together in a chronological order is a starting point. |
10 |
Questions
Always remember that you can ring All Stars Bookkeeping Team on 1300 72 11 74 for any queries you may have. Also remember that the Australian Taxation Office is always available to help you as well. By having your latest Business Activity Statement on hand, it will assist them with identifying you and your business and fast track your queries. |
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