BAS SERVICES
DIY BOOKKEEPING WITH EXPERT SUPPORT TO LODGE YOUR BAS
Engaging an external bookkeeper doesn't mean you need to engage us for everything. Do you want to keep doing your bank reconciliations, payroll processing, and pay your bills BUT would like reassurance that everything is accurate and correct before lodging your BAS?.
Then this package is perfect for you; You do the day to day bookkeeping and we will login to your Xero file at the end of the BAS Period (monthly or quarterly) We will check over your coding and GST calculations and then prepare and lodge your BAS. This package also includes Support each month so you can reach out if you get stuck with something or have a question.
Review reconciled Bank Statements
Review Transaction Coding
Review Debtors and Creditors
Communicate with the ATO on your behalf
Prepare and lodge Activity Statement to ATO
Xero Monthly Support
GST reconciliation
Balance Sheet account reconciliation at EOFY
ATO reconciliation
Lock bookkeeping software file for EOFY to ensure no further entries made
Consult with tax accountant/preparer regarding any queries to ensure information is accurate for tax returns
Enter aligning journals into bookkeeping software to ensure books match tax returns
BAS Only
$120
per month, +GST
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What is a BAS?A BAS (Business Activity Statement) is an activity statement that GST registered businesses need to lodge (usually quarterly for small business) to account for: The difference between GST Collected (paid from customers) and GST Paid (paid to suppliers) PAYG withheld from employees wages Where required, a prepayment on your income tax (called PAYG income tax)
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When Are My BAS Returns Due In?For businesses registered to pay quarterly who are not using a BAS Agent (like us) to lodge their return, BAS payment due dates are as follows: 1st Quarter – July, August, September due 28th October 2nd Quarter – October, November, December due 28th February 3rd Quarter – January, February, March due 28th April 4th Quarter – April, May, June due 28th July Extensions of 4 weeks apply if you are using a BAS agent or tax agent, excluding the 2nd quarter as everyone gets an extension then
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What if I owe BAS but don’t have the money to pay?Obviously its ideal to put aside the money each week so that you have it ready when the BAS is due. But if you find yourself in a position where you don’t have the money, you should call the Tax Office and ask for a payment plan. If you call the Tax Office up front, then any fines will usually be lower.
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Do all purchases have GST included in them?Not necessarily. The most common exceptions are: Imports Non prepared food (eg milk and instant coffee but not take away coffee or biscuits) Some government charges, such as ASIC fees, Stamp Duty Bank Fees Loan Payments Owners Drawings
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I am behind in my BAS and ATO obligations, how do I get up to date?Do not worry, it is very common, and (with the right help) the problem is easily fixed but its important to address it earlier rather than later. Whatever the reason you fell behind, you need to get up to date. As registered BAS agents and qualified bookkeepers we deal with the ATO on your behalf on matters relating to BAS agent services, PAYG reporting, IAS and more. We can negotiate on your behalf for lodgement and payment extensions depending on your circumstances.
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What other services BAS agents can provide?Registered BAS agents can also lodge: Single Touch Payroll (digital way of reporting salary and wage, tax withheld and super) A super guarantee charge (SGC) statement – quarterly form A taxable payments annual report Payment summaries, employee termination payments, gross wages, allowances, PAYG withholding and other taxable and non-taxable payroll items A tax file number declaration on behalf of a client An application to the Registrar for an Australian business number on behalf of a client.