With the emergence of cloud 澳门赌场官网 the media often spruiks that bookkeeping is a dying art, however it’s simply not right. At the core of every business is a need for up-to-date information, and informed decision making, to ensure success and long term sustainability.
The integrity of this data is also more important now than ever before, as the Australian 税 Office can fact check multiple sources – ride share platforms, AUSTRAC澳门官方赌场, and 税able Payment Annual 报告 are just a few areas of national monitoring. So what should you look for to ensure your bookkeeping is keeping you compliant, but also helping you make informed decisions?
- 银行账户
- Are your accounts being reconciled on at least a monthly basis?
- Is your reconciliation report checked back to the statement balance on bank accounts to ensure all transactions have fed through online bank feeds?
- 应付账款
- How long have your bills been ‘outstanding’? Are they paid, or duplicated?
- Are you paying your accounts within their due dates – e.g. are you capturing the information in a timely manner, and paying accounts payable often enough that you’re meeting your obligations?
- 应收账款
- Are you issuing your invoices in a timely manner?
- Are you following up on outstanding, unpaid, invoices?
- 工资
- Is your payroll process documented, so that if your bookkeeper is unwell someone else can step in?
- Is your superannuation paid through an attached clearing house, 比如Xero, to ensure streamlined reporting? This is going to be even more important come 1 July 2026 when super guarantee will need to be paid as staff are paid.
- 报告
- Are the 报告 you use favourited?
- Do you review the 报告 and understand the basics on the Profit and Loss, 及资产负债表, 报告? There may be other 报告 that are important to review – and your Accountant can help you set these up, 他们最喜欢的, and help fill in any gaps of understanding.
- 资产负债表
- Does your GST and Pay-as-you-go-withholding reflect reasonable amounts compared to your Activity Statements at the end of the quarter?
- Does your wages payable account regularly clear to zero once payments are made? A high balance here can indicate the incorrect recording of wages paid.
- Is your superannuation payable account current amounts? E.g., no more than 1 quarter outstanding.
