BAS and PAYG compliance

Do you dread BAS time?

Ensuring that everything is in order with the ATO is a perennial worry for Australian business owners.  Did my BAS get lodged in time? Did I pay the full Goods and Services Tax due? Was all the documentation I submitted filled out correctly?

No one wants to get hit with a hefty fine from the tax office which is why utilising the services of a third-party BAS services provider can be a vital tool to help meet your BAS and PAYG compliance requirements.

Business Activity Statements (BAS) and Instalment Activity Statements (IAS) can be extremely stressful to prepare if you don’t plan properly for it (in both time and cashflow) and you don’t really know what you’re doing.  Ease your BAS burdens by having your BAS professionally prepared by the bookkeepers at Cash Ways Bookkeeping Services. Our fully accredited bookkeepers will prepare your BAS statements in conjunction with working with your Accounts Receivable and Accounts Payable modules and general ledger.  Or, if you are only looking for a BAS form prep and submission service, we will not treat this as just a data processing service.  We bring our skills and experience to bear on the documents we receive, scrutinising the accuracy of the BAS and supporting documents so that correct figures are submitted.

Here are some of the checks we will do:

• Checking Audit Reports of Business Activity Statements or Instalment Activity Statements
• GST confirmation (running various financial reports to confirm audit of figures)
• PAYG confirmation for wages and business tax prepayments (running various financial reports to confirm audit of figures)
• Lodgement of BAS/IAS Monthly/Quarterly as required

Cash Ways can also help make BAS time more manageable by giving your business a customised Business Accounting Software Solution – such as Xero, QuickBooks, or MYOB – that allows you to easily retrieve and manipulate your business’s financial information when you need it for BAS prep.

We can use our experience to plan out your BAS before it is lodged, giving you the best strategy to pay for your business expenses for the financial year.  Directors fees, bonuses, additional wages; all of these are examined helping to keep you fully BAS compliant and able to meet your financial deadlines.  

Superannuation compliance

Along with planning for BAS, submission and payment of superannuation figures is usually done on a quarterly or monthly basis in conjunction with BAS as your business chooses and as advised by your tax accountant.  Submission of super forms can be problematic and cause stress to you and staff as well as financial stress if not planned for in budgets and cashflow.

To get started, and to benefit from our BAS services, get in touch with our skilled and friendly team today!