If your business is registered for GST, it means you have to file regular activity statements with the ATO, usually each quarter. A lot of business owners export their Business Activity Statement (BAS) data straight from their accounting software, like MYOB or QuickBooks, and quickly prepare their BAS’ that way. But this is an imprecise method, and one that could be costing you money.
Tracey Marino, an experienced bookkeeper based in Rockingham, WA, knows how important it is that businesses of all sizes keep their Business Activity Statements error-free so as not to end up costing business owners money.
Here’s six steps you can take for an accurate BAS:
Although this may appear to be ‘double handling’, in fact, it eliminates double handling by ensuring that the activity statements you lodge with the ATO are correct and error-free. Typically, the mistakes this method turns up are ones that would be of benefit to the ATO and not to the business owner. So rather than give the ATO more money than you need to, make sure you follow this method for an error-free BAS lodgment.
Looking for a reliable and accurate bookkeeper to manage your business’ daily or weekly bookkeeping and accounts, either in the cloud (remotely) or in-person?
Tracey Marino is available to service businesses located in Port Kennedy, Warnbro, Baldivis, Secret Harbour, Golden Bay, Safety Bay, Shoalwater, Rockingham and Cooloongup, WA. Tracey is a an expert in MYOB AccountRight, QuickBooks and Microsoft Excel and can prepare and lodge your company’s BAS, set up credit management systems, along with carrying out all manner of day-to-day accounting functions for small to medium businesses. Find out more about Tracey’s experience at her profile page.
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