Sherlock Holmes Day
Bookkeeping is elementary my dear!
Good Bookkeeping is elementary to running a business, and if that’s not how you feel when it comes to doing your books, then it’s time to outsource!
If you can’t deduce your way out of a paper bag, if logical reasoning isn’t your thing, why keep struggling on?
Claiming GST credits you aren’t entitled to, can mean interest and fines – on top of repaying the credits.
Not claiming the GST credits you are entitled to, short changes your business.
Paying suppliers without valid tax invoices (and not withholding tax), may result in the ATO grossing up the bill by the tax you should have withheld (this approx doubles the cost to you!) So run your magnifying glass over the bills you receive before paying them.
And remain alert to supplier invoice fraud – invoices being intercepted and bank account details being changed.
Bookkeeping isn’t for everyone and as a business owner, detecting when to step aside is as important as hiring the right consulting detectives (BAS agents).
Contact us before Scotland Yard contacts you.