We request that you provide us with all required information for each BAS preparation or coordinate with your assigned cloud bookkeeper in order to complete and report your BAS on time to avoid late lodgement penalties.
- Please ensure your Xero or QBO file for the quarter is fully reconciled. This will enable us to complete your BAS and forward it to you for signing before the required date of lodgement.
- Please ensure information relating to all aspects of the activity statement is provided. To assist you we have prepared a checklist of information that would likely be required to assist in preparing the activity statement.
- Please note a BAS is required to be lodged even if an entity has not made any taxable supplies or the net amount of tax due is nil. Accordingly a nil BAS will need to be prepared, forwarded to you for signing and lodgement.
Generally you should provide us with the following for each BAS preparation:
- Goods & Services Tax
- Deposit Book
- Bank Statements
- Credit Card Statements
- Cheque Book
- Cash Receipts
- Capital Assets Purchases Information: Invoices and Finance Agreements
- Hire Purchase/Chattel Mortgage Statements
- Lease and Loan Statements
- Insurance details
- Home office information and % of use
- Closing Stock / Work in Progress at period end
- Salaries & Wages information - PAYG withholding information - Amounts withheld from employees and others (If applicable)
- Total amount of salary and wages including commissions, directors fees, eligible termination payments and non cash benefits paid
- Amount of tax withheld from total salaries and wages paid
- Amount withheld from investment distributions as a tax file number was not quoted
- Amount withheld from creditors payments as an ABN was not quoted
- Pay As You Go Instalment - Details of any partnership or trust instalment income for the period (If applicable)
- Fuel tax credits - Total number of litres for the period (If applicable)
You should be able to make distinction between:
- Cheque Receipts/Payments
- Cash Receipts/Payments
- Credit Card Receipts/Payments
In addition you should advise us of the following information:
- Purchases of any new capital assets in the relevant period
- Information about sales of any capital assets
- Report any changes that will affect BAS reporting e.g. change of business structure.
To learn more or book an appointment, contact us.