Tax & Accounting Professionals Business Clients. Business Name: _____ ABN:_.

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Presentation transcript:

Tax & Accounting Professionals Business Clients

Business Name: _________________________________________________ ABN:_____________________________________________ GST Expense Summary for the Quarter ____________________200______ Sundries DateDescriptionABN: Tax Invoice no: Total Exp GST on ExpPurchaseFuelPhone Water/elect /Tele ratesRentAmountDetail Grand Total 1. Description means the company who you bought your things from and the company who paid you. Income Summary for the Quarter ______________ 200______ 2. ABN: means the Australian Business number for the company you bought and got payed from. 3. Tax invoice no: means the number on the Tax invoice you bought and the DateDescriptionABN: Tax Invoice No: Gross Inc GST on Inc Net Income Tax invoice you got paid. 4. Total Exp should equal to GST on exp plus all other expenses 5. Purchase should only be the things you bought directly for the business. 6. Every client will have a different expenses list. - explain 7. Write down your own expenses list from the template and also you can add your own title for the exp list. 8. Keep every single expenses and Income tax invoice for Tax purposes for at least 7 years. ATO can ask for it any time. Grand Total

GST RECORDING 1. You will have to know of your Business Activity Statement (BAS) due date. 2. We will remind you at the end of the month once. If there is no response then it will be clients fault for late lodgement. 3. Incomplete information upon receiving income and expense for BAS, will be clients fault for not lodging on time. 4. All the documents will be dated and signed by clients upon receiving and giving away record books and tax invoices each quarter. 5. Help is always available on how to record in computer but will be charged by hourly rate:- as some clients take up lots of time in understanding and takes up lots of our time in free run. 6. Demanding clients will be dealt with accordingly. We are friendly and do look after our clients on a personal basis so we prefer our clients to be the same. 7. On time lodgement:- if our client brings their papers on time to do the data entry then the lodgement can be done on time. It will be first come first serve procedure used. 8. Data entry will be charged on unit basis on how long it takes to do data entry. Crunched up invoices takes longer as we have to straighten them up and sort out in proper way then do entry. Extra will be charged for crunched up invoices. But our fees are very reasonable. 9. The thing is !!!! you will not do any job with out getting paid or sell any thing for free.  We girls at tax and accounting professionals get paid to do our job here.  So if yo don’t pay tax and accounting professionals enough for doing your job right then he cant pay us to do your job.  In business we have to help each other to live or survive.  The world is round and our life and living also goes round. You help me I help you. You pay us and we in return do your job right Our fee is very low compared to other accountants. Please pay on time as we also have to run the business for you.

RECORD KEEPING 11.All records needs to be filed away and kept for at least 5 years. Australian taxation office (ATO) can ask for review any time within 5 years. 12.If you do bring in hard copy/printout report, please also bring the soft copy/disk or memory stick with current file in it so that we can keep a copy with us. Which will make it easier to do annual report for you. 13.Bas has to be lodged by the due date. So we need to receive all the documents in first and second week of the each quarter end. Eg.  March quarter: has to be brought in by 15th of April  June quarter: has to be brought in by 15th of July  September quarter: has to be brought in by 15th of October  December quarter: has to be brought in by 15th of January 14.All the submitted items should have tax invoice kept for 5 years. When you do your data entry or you record in your book then you still need to keep all the invoices. If you don’t have a tax invoice then do not claim it in your BAS. If you bring a paper with figures on it, we will not accept it with out having all the proper recording. It has to be recorded in a proper book, computer print out or a USB with a soft copy of a file for the quarter. 15.ATO has changed lots of rules and have become very strict. 16.If we pick up your mistake and advice you please do not take it lightly; as if we can see your mistake then ATO will defiantly enquire about it that same end of the year. So please help us help you. Always respond to the calls we make to you and bring in all the information we ask for. 17.We just want to help you do the right things by the law. Other wise you and us can get into trouble by law. Eg. Will have to pay fine, late fee, and other charges. Some fines:  Late lodgement penalties = $  General Interest charges is calculated on daily basis = around 13% 18.Outstanding debts with ATO.  ATO has as of 1st July 2007 transferred all owing debts to debt collectors. Now as of 1st July 2008 if debt isn’t paid within 30 days then it will be given to debt collectors.  Debt collectors give you 7 days to pay.  Then you will be taken to court.  PLEASE LET US KNOW IF YOU ARE HAVING DIFFICULTY PAYING. WE CAN THEN MAKE ARRANGEMENTS WITH ATO.