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Are You Making these GST Mistakes in Your Bookkeeping?

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Being Jack of All Trades can land you in hot water with BAS

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Don’t submit inaccurate financial documents by trying to do everything yourself by way of bookkeeping.

IT’S PERHAPS EASIER TO do your own bookkeeping these days than it used to be; particularly if you’re using a cloud accounting program like MYOBXero or QuickBooks, which are among the easiest, yet robust, accounting applications currently on the market.

But even so, there are many aspects of Australian tax that, while accounting software makes it possible to carry them out yourself (like business activity statements, for example), it’s not a good idea unless you really know what you’re doing. Here are the three GST mistakes nearly every business owner makes in their bookkeeping.

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New MYOB Training Content available for all students

MYOB Training Course Bank Reconciliation Tutorial Screen

If you are enrolled into our online MYOB training course you’re probably aware of our LIFETIME access feature. You might also recall that this feature enables you to log in at any time and have access to any new or updated content that we create.

We’ve just created training video tutorials for our MYOB bank reconciliation course!

The training workbook for the bank reconciliation course contains a project where you can create a new company file from scratch, import an accounts list (Chart of Accounts), import transaction journals and then enter your own transactions to complete a bank reconciliation. It’s a very satisfying feeling!

Here is a list of the 9 new training videos we created. If you are a student you can simply click on each video, sign-in and start watching.

  • Section 1 Video 1 – Export and Import using MYOB
  • Section 1 Video 2 – Working with Read Only MYOB data files
  • Section 1 Video 3 – Exporting Accounts List and Transaction Journals
  • Section 1 Video 4 – Exploring Exported MYOB Accounts list Data
  • Section 1 Video 5 – Create a new training company datafile
  • Section 1 Video 6 – Importing an accounts list into a new MYOB data file
  • Section 1 Video 7 – Importing the Transaction Journals into a new MYOB data file
  • Section 1 Video 8 – Deleting duplicate accounts and changing linked accounts
  • Section 1 Video 9 – Setting Linked Accounts for GST
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    As part of our continuous improvement process we are now hosting our videos on a dedicated video hosting platform and the videos can now be paused and played and you can enable them to take up the full screen for easier viewing.

    Happy Learning!

    To learn more about our online MYOB training course and the fantastic new features like LIFETIME membership, EzyLearn Q&A and more visit: http://ezylearnonline.com.au/courses/myob-training/

    [button link=”http://ezylearnonline.com.au/courses/myob-training/”] MYOB online training course[/button]