Brisbane
Ever heard the term that “If something sounds too good to be true…it probably is!” At Accounting iCue we hear tales of woe very regularly. The sad fact of the matter is that people don’t always realise that even accountants may consult accountants – it is makes good business sense to consult people who train specifically in a particular arm of accounting and financial planning (just as Doctors specialise in a field, so do Accountants).
At Accounting iCue for instance we have expertise and many years experience with:
So, you listened to all the advise, right? You did the right thing and went to a qualified accountant when you set up your business – great! BUT then you decided that that was all you needed them for, because once the accounting protocols and procedures were in place it was plain sailing. Now you’ve been doing your own books, lodging your own monthly or quarterly BAS and you are pretty pleased with how things are looking. You have not visited your accountant again – the books balance right? Hmmmmm…
Financial year end rolls around and you really don’t think you need to spend the money on a Qualified Registered Tax Agent to review your books and sign off on your tax reporting for you – so, of course, you log online and complete your tax return.
A few months down the track and you get a letter from the Tax Department advising you that they will be visiting you to audit your financials and could you please ensure all your financial records are to hand. It’s all good – “That’s OK, my accounts balance”.
Now, if you have continued your relationship with your accountant, the Tax Agent would be sitting happily in an airconditioned office reviewing your clearly and correctly set out end of year reports including any journal adjustments and your asset register and would have easy access to any random invoices relating to purchases or sales. BUT you didn’t and the story is sadly for you a little different, and a visit from the ATO makes you shudder.
Your filing system lets you down, some payments cannot be confirmed as the invoices aren’t where they should be, because the back of them had maybe been used to make a shopping list on! The equipment you sold and replaced has not been recorded correctly in the asset register. You were unaware that you needed to do anything different at year end other than just a BAS…..
If only you had kept Accounting iCue on speed dial you would not be spending your day in the office not earning any money with a very frustrated Tax man in front of you.
At Accounting iCue we will check your figures for you before your Tax reports are forwarded to the Taxation department and then we become the tax man’s point of contact. Seriously, we may not know how to lay tiles but we do know how to balance the books.
Contact Accounting iCue and find your new best friend!
onials
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PO Box 3243 Helensvale Town Centre Gold Coast QLD 4212 | |
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[email protected] | |
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0400 630 930 | Tap To Call |