Complete the bookkeeping first
BAS work is easier when the underlying records are complete. Reconcile the relevant bank accounts and business credit cards through the reporting period.
Enter outstanding records
Make sure relevant customer invoices and supplier bills are captured. Missing transactions can distort the figures being reviewed.
Flag uncertain GST treatment
Unusual purchases, private transactions, asset purchases and transactions with unclear GST treatment should be flagged for review rather than guessed.
Check payroll information
Where payroll and withholding obligations are relevant, confirm the payroll records are complete and agree to the accounting file.
Gather supporting statements
Finance accounts, merchant platforms and other payment services may need separate statements or reconciliations.
Resolve old suspense items
Transactions sitting in suspense, uncategorised or clearing accounts should not simply roll forward indefinitely. Create a list and resolve them where possible.
Keep supporting evidence
Retain invoices, receipts and supporting documents behind the bookkeeping entries. This page is general bookkeeping information rather than personal tax advice.
Next step: Contact Xbook if you have a relevant enquiry.