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EOFY checklist for businesses

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We are getting to the pointy end of EOFY.

This is an opportune time to get everything organised, here are some handy tips

  1. Review recordkeeping processes
  2. Check your Business Activity Statement
  3. Prepare a Taxable Payments Annual Report (if relevant)
  4. Finalise payroll and superannuation obligations
  5. Taking stock: inventory, assets and liabilities
  6. Complete reconciliations for FY21/22
  7. Prepare for FY22/23

If this sounds all too much, give me a call direct today on 0429 363 047.

I can definitely help you with preparation of EOFY.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

EOFY is approaching – are you ready?

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Mmmm that question has made many people a little nervous this year.

I am not sure why, I think with the turbulent year of COVID and businesses being in lockdown and reopening, many people haven’t kept an eye on the expenses or they have been so busy because COVID brought more work into their business, they are way behind in their books.

EOFY is an extremely important time of the year for any business. Not only that you must have everything up to date, but it’s a good time to reflect on the past 12 months and look at how your business faired.

Many people will be worried because COVID had an impact on many businesses, some failed and had to close or they had to stand down employees, other businesses had the oppositive effect and had to put on staff to cope with the increased amount of business.

Either way, EOFY is only a few months away and now more then ever is the time when you need to outsource your bookkeeping to a qualified bookkeeper. Someone that can take that pressure off you or even just to answer a question you may have.

Many regulations and changes are taking place and Jobkeeper will be finished at the end of March. Please don’t hesitate to give me a call now and let me get you organised and up to date for EOFY.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket and saves you time to work in/on your business this makes good financial sense!!

Do you know what TPAR is?

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TPAR stands for Taxable Payment Annual Report.

In a nutshell TPAR tells us about payments that are made to contractors for providing services.

When you think contractors, these can include consultants, independent contractors, subcontractors, they can be operating as sole traders (individuals), companies, partnerships or trusts.

When you look at the report which is generally found on the invoice you receive, it should have the following

  1. ABN (Australian Business Number)
  2. The person’s name and address
  3. The gross amount you paid to them, for the financial year (including any GST)

The ATO will use this information to identify the contractor/s who may have not met their tax obligations, hence why this report is so important.

If your business falls under one of these categories.

  1. Cleaning
  2. Building & Construction Industry
  3. Courier/road freight/delivery
  4. IT (Information Technology)
  5. Security, surveillance & investigation

If you have a business under one of these categories, they you may need to lodge a Taxable Payments Annual Report (TPAR), under the taxable payment reporting system (TPRS), by the 28th August 2020.

If your business is offering new or expanded services (as listed), due to the response of COVID-19 and the restrictions implied and you have been paying contractors to provide these services, then if you do not lodge your TPAR, the ATO can penalise for late or non-lodgement.

That is why it’s so important to make sure this is completed within the due date.

If you are concerned or need assistance, Maree is a Registered BAS agent and can lodge your TPAR.

Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au

It’s that time of year again, EOFY, let Maree take care of you and your business.

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Let Maree take care of you and your business.

Ask her anything about EOFY, tax, Job keeper or Job seeker packages, anything, she is your go too lady.

Maree Punzet
Maree’s Mobile Bookkeeping
0429 363 047

Job keeper Package – have you enrolled/applied yet?

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Many businesses have still not enrolled or yet applied for the Job Keeper package.

Some reasons why they haven’t:

a) They did not have a downturn in business in March/April 2020, but some of those businesses have not re-checked for May, or have just assumed that there earnings have not changed.

b) Don’t miss out on the Job keeper package, if you think it’s too late to apply, because it isn’t

Contact Maree and she will help you and check if you are eligible or not.

Maree’s Mobile Bookkeeping
0429 363 049
www.mareesmobilebookkeeping.com.au

Working in collaboration = All your EOFY needs under one roof

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As a business owner myself and a qualified BAS agent and Bookkeeper of over 20 years, I work closely with Peter from Peter’s Tax and Accounting and we work hand in hand with Tax Returns and end to end year work between us both.

We have worked together now for many years and we have a great referral business between both of us. As some work is more bookkeeping and other work is more of Tax compliancy.

Working in collaboration with another experienced business owner not only helps me but helps Peter as well. Peter is a Chartered Accountant as I am a qualified Bookkeeper and BAS Agent, so we work on many clients returns, end of year work, BAS, reconciliation, STP, reporting, payroll.

We are both individual businesses and we both have separate clients to one another, but many times we have clients that we both look under, so you have basically two qualified businesses helping you under the one roof.

I must say it’s been a pleasure working in collaboration with Peter all these years and it’s always great to have someone else to speak to and ask questions too.

If you need any assistance with your TAX, EOFY, financials, please do not hesitate to give me a call.

Maree Punzet
Maree’s Mobile Bookkeeping
0429 363 047
www.mareesmobilebookkeeping.com.au

 

 

EOFY Preparation: Are your books up to date, it’s TAX TIME….

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Are your books up to date?

I can see you there, shaking your head.

Was that a NO?

Well aren’t you glad you came across this post and found me.

I’ve been helping so many business owners and I know how hard it can be to keep on top of things when it comes to your books and tax time.

So if this is you, give me a call, there is no cost to you to just call me and have a quick chat and see where you are at. I offer hourly rates and packages to suit all budgets and client needs.

If you don’t want the hassle in getting your books up to date, then throw it over here and let me take care of it all.

Maree Punzet
Maree’s Mobile Bookkeeping
0429 363 047
www.mareesmobilebookkeeping.com.au

Single Touch Payroll became compulsory in July 2019, have you reported your wages through STP this year?

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Have you been reporting your wages through STP this year?

If not it’s not too late to outsource your payroll to Maree.

Most people think this Single Touch Payroll is quite easy, but it really isn’t. Have a read from the ATO website below of the different options when it comes to STP.

https://www.ato.gov.au/General/Other-languages/In-detail/Information-in-other-languages/Single-Touch-Payroll/

There will be no group certificates/payment summaries this year, all payroll will need to have been reported to the ATO through single touch payroll.

If you need help with your Single touch payroll get in touch today

Maree Punzet
Maree’s Mobile Bookkeeping
0429 363 047
www.mareesmobilebookkeeping.com.au

Can you claim your bookkeeping fees at tax

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Ok, you might think this is a simple question, but yes you can definitely claim your bookkeeping fees at tax time.

It’s an expense which of course is related to your business.

Yes they can claim their bookkeeping fees 100% just like there accounting fees and for me for eg as GST registered if the client is to they can claim back the GST of their fees each quarter.

So why wouldn’t you outsource your bookkeeping to me, as a GST Registered BAS Agent, Bookkeeper these are all the little things I know, that many other business owners wouldn’t.

Bookkeeping isn’t simple, there is so much to learn and know and the regulations keep changing, so if you want to know what you can claim and cannot claim, then let me handle all your bookkeeping needs.

Maree Punzet
Maree’s Mobile Bookkeeping
0429 363 047

Only a few months away to EOFY, time to review your finances

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How many of you have actually recently gone through your finances for the last few months? I’m not just talking how January 2020 was when it comes to profit/loss, but I’m talking about reviewing the last 6 months.

We are now in January, well February 2020, so we only theoretically have March/April/May and June, so really only another 4 months before the EOFY.

That’s right 4 months.

Have you been making a profit?

Have you paid your staff correctly?

Have you paid your suppliers?

Have you been paid?

That’s right, how many people owe you money, have you chased these businesses for your money?

That’s the thing, when we are in busy, we are wearing so many hats.

As a Bookkeeper and BAS agent, it’s my job to keep track of all this for you each month. Sometimes I do have to make that call and do debt collection on a businesses behalf.

So does this sound like you?

Are you behind in your books, do people owe you money,well if any of the above resonates with you, then give me a call on 0429 363 047.

Let me get you and your finances up to date so when EOFY comes, it’s all smooth sailing.

Maree Punzet
Maree’s Mobile Bookkeeping
www.mareesmobilebookkeeping.com.au

 

Only 6 months to EOFY

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It might be only a few days short of Christmas, but we are actually mid-way throughout the Financial Year.

It’s only 6 months till EOFY, that’s right. Only 6 months!

I think people forget when June 30th comes around it’s the end of the Financial Year, not the 31st December.

Have you checked your paperwork recently, are you ready for EOFY, have you been entering data, coding correctly, keeping your BAS updated????

If not, then maybe it is time to outsource your bookkeeping.

Call today, Maree Punzet from Maree’s Mobile Booking
0429 363 047