Sunday, August 19, 2007

Common BAS Errors

Preparing your quarterly BAS should be relatively straightforward if you adhere to a few simple rules.

  1. Understand which accounting method your business is registered for (cash accounting method or accrual accounting method)
  2. Ensure your business has proper record keeping in place
  3. Understand how your accounting software works and all transactions are entered accurately with correct tax allocations

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