Your business has become successful. Your focus has been to work hard and achieve your business goals. Your customers are happy. However, at the end of the financial year, you also need to make sure your bookkeeping is in good shape to hand over to your accountant for tax time.
Nothing is worse than finding out that your activity statements and/or payroll haven’t been submitted properly and now the taxation office is asking questions you cannot answer. This is exactly why you need someone who is qualified and can be trusted with your business’ finances.
Bookkeeping is so much more than simple data entry. It's also checking that everything has been entered correctly and is compliant with the Australian Taxation Office.
Why you need to hire a registered BAS Agent
A registered BAS agent is able to handle all bookkeeping responsibilities. They recognise when transactions are incorrectly coded and what ramifications it can have on what is ultimately reported to the Australian Taxation Office.
They have appropriate qualifications and experience and are required to follow strict guidelines and rules. A BAS agent is legally permitted to charge you for the setup of your accounting software tax codes; prepare and lodge Business Activity Statements; Single Touch Payroll; Taxation Annual Payments Report (TPAR) and FBT Payments. A bookkeeper without a BAS Registration is not.
A BAS agent can also thoroughly review the reports of your business and provide certainty in correct reporting when lodging a BAS. They are able to present, advise, and assist you in a variety of matters due to their knowledge and expertise in the business field.
Next steps
As a registered BAS Agent, Valley Bookkeeping Solutions can help your business ensure you are meeting your compliance obligations and our expertise can help you ensure you are using best practices for your bookkeeping.
Contact our office to find out more.