Start with an honest map of the backlog
When BAS is approaching and the books are behind, the first job is to identify the periods, accounts and records that are actually outstanding. Avoid trying to code every transaction from memory. A clear map of the backlog is more useful than a rushed estimate of how much work there is.
List the accounting software, bank accounts, payment platforms and missing document types. Then identify the next BAS period or other deadline that needs the earliest attention.
Work through the records in a sensible order
Catch-up bookkeeping is normally most reliable when it is staged. Reconcile the accounts, identify missing information, review GST treatment and answer questions before using the records for BAS preparation.
- Confirm outstanding BAS periods and due dates
- Collect bank statements and accounting-file access
- Reconcile bank, card and payment-platform accounts in date order
- Separate clear transactions from those needing documentation
- Resolve GST coding questions with the appropriate adviser
- Prepare BAS-ready reports only after the records are reliable
Do not let the catch-up become the permanent process
Once the backlog is dealt with, establish a routine for incoming documents, regular reconciliations and owner review. The routine may be weekly or monthly depending on transaction volume, but it should be frequent enough that questions are still easy to answer.
A Registered BAS Agent can help with activity statement work within scope once the records are ready. If you need tax or payment advice, speak with the appropriate adviser.
Build a routine you can keep
The most useful bookkeeping habit is the one that is repeated. Set a regular time to collect source documents, review transactions and ask questions while the detail is still familiar. This is usually more effective than a large clean-up close to a BAS deadline.
A bookkeeper can help design the routine and keep the records current, but business owners still play an important role in approving information and explaining transactions that are not clear from a bank feed.
Know when to ask for specialist advice
Bookkeeping and BAS support are practical services, not a substitute for legal, employment or income-tax advice. Where a question involves awards, contracts, business structure, tax planning or a complex tax position, confirm it with an appropriately qualified adviser.
Linda Kops is a Registered BAS Agent (registration number 26001801). BAS services are provided within that registered scope, with clear records giving your accountant or tax adviser a better starting point.