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10 useful tools for bookkeepers

Just like any good trades person, a bookkeeper will collect and use certain “tools” during his career that generally make his work easier. I have certainly collected a few tools along the way during my 16 years as a bookkeeper, about 20 to be exact! Today I’m going to share 10 of these tools with you and then next week I’ll share the remaining 10 tools in part 2 of this blog.

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Didn’t lodge your BAS on time? Here come the late lodgement fines…..maybe

So the BAS lodgement date came and went and you didn’t get around to lodging your BAS – what happens now? The Australian Tax Office (ATO) doesn’t look favorably on this behaviour. If they see fit, you may just find yourself having to pay late lodgement penalties. What are these penalties and how much will you have to pay if charged?

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How to lodge your taxable payments annual report online

If you are in the building and construction industry, you are now required to lodge a taxable payments annual report (TPAR) on the 21st July each year. The TPAR tells the ATO about payments you have made to contractors during the year in your business. Lodging via hard copy and snail mail can be a nuisance particularly if there are many contractors to report about. Here is a great video from the ATO showing you how you can lodge  the TPAR online:

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