Keep the documents that explain each job cost
For a trades business, GST and BAS records are easier to manage when purchases and income can be connected to clear source information. Supplier invoices, customer invoices, receipts, bank records and approved times or subcontractor information all help explain what happened during the period.
The practical goal is not more paperwork. It is a repeatable way to send documents into the bookkeeping process while the details of a job are still fresh.
A trades record-keeping checklist
Use your actual business process and software, but make sure the following information has a reliable home.
- Customer quotes, invoices, deposits and final payments
- Supplier bills and receipts for materials and job expenses
- Vehicle, fuel, tool and equipment records where relevant
- Bank, card and payment-app transactions
- Approved timesheets, payroll and subcontractor records
- Notes for unusual purchases, private use or disputed items
- Current reconciliations before BAS reporting is prepared
Keep the accounting file close to the job workflow
Many bookkeeping gaps happen because information is captured on site but never reaches the accounting file. A simple weekly upload, receipt app or nominated administration time can make a material difference. Your bookkeeper can then identify questions before BAS time.
GST treatment and business deductions can be fact-specific. Do not infer an answer from a checklist; confirm uncertain issues with a Registered BAS Agent or tax 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.