Rapid Accounts

31/07/2019

You would not believe what people will do to declare expenses in their annual tax return 🤯. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
And NO personal gifts don’t qualify and it’s not okay to ask Australian taxpayers to subsidise presents 🎁. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
It’s mind blowing 😮. Check out the article from for a little chuckle. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
And make sure your not doing the same, it’s only a matter of time 🚫. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
https://www.smartcompany.com.au/finance/tax/outrageous-tax-expense-claims/

16/07/2019

Single Touch Payroll
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Are you ready? For those that need a recap:

> STP is a new way of reporting tax and super to the ATO.
> You will report your employees’ payroll info.. wages, salaries, PAYG withholding & super.
> Small businesses with less than 19 staff to will need to report before 30 September 2019
> Micro businesses with less than 4 staff have additional options eg: low cost products or quarterly reporting through their registered BAS agent (🙋🏼‍♀️that’s me!)
> Large businesses with 20 or more should be doing it NOW
> Here’s the link to the ATO’s website and all the info you need.
https://www.ato.gov.au/Business/Single-Touch-Payroll/
📷

01/07/2019

Happy 1st of July and the first day of the 2020 Financial Year. Today is a great day to get your systems up and running with current year paperwork, receipts and tax obligations.
Think of it as at Tax spring clean!

03/06/2019

Did somebody say ‘Shoe Box Client?’ I’m the worst! Lucky I’m an accountant. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
As we are heading into the End of Financial year month, this is just a gentle reminder to all my awesome peeps in biz to start getting your paperwork in order. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
Happy bookkeeping 🧾😊. If you have any questions, I’m happy to help 👯‍♀️

30/05/2019

There’s lots to do as a business owner as you focus on your year-end accounting and bookkeeping tasks. .
Here’s a check list I found on-line (thanks ).
1. Ensure that your BAS lodgements are accurate and up-to-date.
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2. Ensure your super guarantee (SG) contributions are accurate and up-to-date.
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3. Will you be ready for Single Touch Payroll (STP) by the start of 1 July? - for businesses with 19 employees or less, you are required to report via STP ready software with every pay run as if 1 July....great days ahead 🤯.
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4. Reconcile your payroll and get ready to provide 2019 PAYG payment summaries to your employees by 14 July if not reporting by STP.
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5. Ensure your records are compliant with the ATO. ATO requires your business records to be kept for 5 years.
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6. If your business carries stock make sure your stocktake if inventory is completely by 30 June
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7. Review your Balance Sheet and Profit & Loss statements to ensure you have completed everything such as:
- Bank account reconciliation.
- Petty Cash.
- Credit Cards.
- compare your accounts receivables & payables reports to amounts shown on BS.
- GST & PAYG withholding accounts are reconciled to the June BAS.
- Wages & super in P&L reconciled to PAYG Payment summary
- Personal expenses haven’t been claimed as business expenses.
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There’s a lot to do, that’s way smart people employee bookkeepers or accountants. I’m a Registered BAS agent with the Tax Office, if you need any advice I’m happy to help 😊

30/05/2019

Here's a checklist for you to simplify your year-end bookkeeping.

There’s lots to do as a business owner as you focus on year-end accounting and bookkeeping tasks in addition to some forward planning for the new financial year. To help simplify things, here's a handy EOFY checklist for businesses.

18/03/2019

A registered BAS agent and bookkeeper for over 15 years with a degree in Accounting. Do you need any help? I’m based in Brisbane but have had clients all over the world. Let me know below 😊

16/07/2018

The ATO is cracking down on 'standard' deductions. You can't deduct income if you haven't spent it, or it's not related to earning income. The substantiation rules are tightening. Make sure you get your affairs in order 🙄

25/05/2018

Yep pretty much how I'm feeling about this LONG Friday! Will feel much better in the morning

14/04/2018

This is how I feel... all the TIME... nah Confucius is my hero :)

07/04/2018

Wish I had a Genie 🧞‍♂️ 🧞‍♀️.... shhhh don’t tell anyone I’m an accountant 😉