Maintain separate business and personal records. Have a separate bank account for business transactions only. Keep your records for 5 years. Set aside time to review and update your records Keep records electronically wherever possible. Software can help you report income and claim expenses correctly. ATO Small Business Newsroom
It's easy to make a mistake when preparing your BAS. That's why a certified bookkeeper/BAS Agent would be valuable in ensuring the ATO reporting is correct. Many business owners make mistakes on the Hire purchases/Lease of Vehicles or Plant & Equipment on their BAS. Incorrect tax codes in your chart of accounts - this affects [...]
When you start a business, there are tax and super responsibilities you need to be aware of, including: the tax implications of your business structure whether you're entitled to an ABNExternal Link registering your business records you need to keep deductions you can claim. Before you get started there are a few things to consider [...]
Efficient, knowledgeable and organised A good bookkeeper understands your business processes, your industry and what is required for your business. Bookkeepers make sure processes are in order to provide you with necessary reporting so you meet the ATO deadlines. We have an excellent eye for detail and care about keeping your records up to date [...]
