Prepare the records before BAS time
For Mornington Peninsula businesses, a quarterly BAS is easier when the bookkeeping has been reviewed through the quarter rather than in the last few days. This matters for businesses with seasonal trading, changing rosters or project-based work, where the financial admin can easily fall behind.
Use this checklist to identify what needs review before the BAS is prepared. It is not a substitute for advice on a specific GST or tax question.
Quarterly BAS preparation checklist
Set aside time to check the records with the person responsible for the business.
- Confirm the BAS period and due date
- Reconcile bank, card and payment accounts
- Review sales, purchases, refunds and supplier bills
- Check GST coding and source documents for unusual transactions
- Review payroll, PAYG and super records where applicable
- Compare reports to the prior quarter and investigate significant changes
- Keep the final BAS and supporting reports together
Get help before the deadline becomes urgent
If accounts or receipts are behind, begin with a catch-up plan and clearly identify what must be resolved. Do not guess figures simply to get a form lodged quickly.
Linda Kops is a Registered BAS Agent and can provide activity-statement services within that scope for Mornington Peninsula businesses.
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.