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Your monthly activity statement (BAS) is due on the 21st

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Your monthly activity statement is due by the 21st of this month. 

Use the following checklist to make sure you are ready for lodgement day:

  • Have you allocated all bank transactions to the correct accounts?
  • Have you verified that the bank balance listed in your accounting software matches the balance in your bank account?
  • Do you have tax invoices and receipts for all business-related transactions?
  • Have you checked the GST tax codes for all transactions?
  • Have you checked tricky transactions like agency arrangements, insurance or overseas purchases for GST tax code accuracy?
  • Have you got paperwork for asset purchases or new finance arrangements?
  • If you have to report PAYG withholding for employees, you also need to check that your payroll categories and tax calculations are correct for the quarter, (or last month for employers who lodge a monthly IAS).

Checking the figures at each of the BAS reporting labels means your statements are more likely to be accurate and less likely to need GST adjustments at the end of the financial year. This results in you having a more accurate picture of your liabilities throughout the year and being able to plan accordingly.

Any questions? Talk to us. We can help you set up the processes to make this area of your business easy – and you can focus on your business.

Kelsie Bunt

Kelsie Bunt

Kelsie is our amazing client services co-ordinator and keeps more wheels turning in our company than anyone really knows! It's even in her Position Description to keep the boss Chris under control!

About Keypoint Accountants: Innovative Gold Coast Accounting for Your Business

WE’RE ABOUT YOUR BUSINESS TRANSFORMATION: Our goal is to transform YOUR business with better strategic action. Our team delivers excellence in Accounting and practical strategic advice helping you to grow your business exponentially. We guarantee results.

ENABLING THRIVING BUSINESSES: We have helped thousands of businesses locally and nationally for over 50 years! The Keypoint specialist team has forged a reputation for helping transform businesses from conception to succession.

WE MOVE YOU: Our integrated services – Strategic Action, Accounting and Financial Health checks have been created to move your business in line with your vision:

  • decades of experience and industry knowledge, 
  • maximising growth opportunities.  
  • using the latest in technology to streamline financial processes  
  • freeing up your time to do what you do best! 
  • better financial strategies for better profits.

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