This is a general list of what to have ready when we next meet with you (note your accounting system may cover a number of items listed below):
- Access to your accounting system e.g. Xero or Accounts data file
- Debtors & creditors reconciliation
- Stock take if applicable (or, if your business is a Small Business Entity, use the simplified trading stock rules)
- 30 June bank statements on all relevant loan documents
- Documents on new assets bought or sold, including the date you entered the contract and the date the asset was first used or installed ready for use
- Payroll reconciliation
- Superannuation reconciliation
- Cash book (if applicable)
- 30 June statements on any investment or operating accounts
And, if we are preparing your individual income tax return:
- Income Statement
- Tax statements of managed investment funds
- Interest income from banks and building societies
- Dividend statements for dividends received
- For share sales or purchases, the purchase and sale contract notes
- For real estate sales or purchases, the solicitor’s correspondence for the purchase and sale
- Rental property statements from real estate agent and details of other expenditure incurred
- Work related expenses
- Self-education expenses
- Travel expenses
- Donations to charities
- Health insurance and rebate entitlement
- Family Tax Benefits received
- Commonwealth assistance notices
- IAS statements or details of PAYG Instalments paid
- Details of any transactions involving cryptocurrency (e.g., Bitcoin)
- Details of any income derived from participating in the sharing economy (e.g., Uber driving, rent from
- Airbnb, jobs completed through Airtasker etc.,)
Recommendations to help us help you achieve your goals
- We always encourage you to let us know what your goals & concerns are – short, medium & long term
- Business Plans
- Forecasts
Important Information
This is general advice only & does not take into account your financial circumstances, needs & objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from your financial adviser and seek tax advice from your accountant at JKR Accounting. Information is current at the date of issue and may change.