At End of Financial Year (EOFY), it is important that you reconcile everything. This is the best way to ensure that nothing has been overlooked or missing. Below are a few items I recommend you check in preparation for your annual tax obligations.
- Bank and foreign accounts, credit cards, petty cash/cash drawer, loans, Paypal and clearing accounts.
- Debtors and creditors. Review outstanding orders and write off bad debts.
- Superannuation, payroll and PAYG withholding.
- Inventory – stocktake and write off obsolete stock.
- GST Control accounts.
- Asset holding.
A consistent and regular review of the above items will not only make your EOFY less stressful, but will also help you gain a better understanding on your business practices and financial status.
For further information or assistance in your EOFY processing, send me a message at firstname.lastname@example.org or call 0499 750 673.
Owner/Director - Jenni Madeley
I am an experienced BAS agent who has over 15 years experience in the industry. I have an in-depth understanding of the day-to-day operations of different organisational structures of varying sizes and across a variety of industries which include manufacturing, retail, sole traders, local government as well as clubs. I retain a dual certification in both Accounting and Bookkeeping, am registered with the Tax Practitioner's Board as a BAS Agent, and am also a Certified Bookkeeper with the Institute of Certified Bookkeepers. This ensures you can be assured of quality service at a high standard.
My services include payroll, (processing, leave entitlements, award, superannuation contribution calculation and lodgement as well as separation certificates), BAS preparation/review and lodgement via secure ATO portal, (GST, WET, PAYG Withholding and Installments, Fuel Tax Credits, and FBT), Accounts Payable, Accounts Receivable, (debt management systems), data entry, bank/credit card/loan reconciliations, and reporting.
Outsourcing is becoming increasingly popular among businesses and for a good reason - it allows you to maintain focus on your business which in turn assists your business to grow faster and stronger. It also minimises your need for staff while maintaining expertise, knowledge and experience in a confidential manner. Outsourcing gives your business the ability to increase or decrease your business requirements in line with operations, and is a cost-effective solution to meeting your obligations.
If you have any questions or would like to find our more, please feel free to contact me. I look forward to working with you!