BAS Accounting in Lake Macquarie
Business Activity Statement preparation and ongoing business accounting.
BAS Accounting in Lake Macquarie
GR & Co Accounting & Advisory Pty Ltd handles BAS & Business Accounting in Lake Macquarie for businesses that need their activity statements right and lodged on time. We are based in Morisset and act for businesses in Newcastle, on the Central Coast and across the Hunter Valley. A BAS is only as good as the bookkeeping behind it, so we treat the two as one job rather than two. Each period we reconcile the underlying records first, then prepare and lodge the statement. We lodge through the agent program, which generally provides additional time compared with lodging yourself.
To talk through your situation, call us on 02 4975 2075.
How Each Statement Is Checked
Each BAS period we reconcile your sales, purchases, bank accounts and payroll records, then review how GST has been applied across transactions. Coding errors are the most common source of trouble: GST claimed on bank fees or insurance stamp duty, GST charged on input taxed supplies, or a large purchase coded to the wrong period. We check PAYG withholding against what was paid to staff and confirm PAYG instalments against your current rate. Once the period reconciles, we prepare the statement, send it to you with a summary of what is payable and when, and lodge it after you have approved the figures.
Ongoing Business Accounting Between Statements
Reconciling every quarter has a benefit beyond the statement itself: your accounts stay current all year rather than being rebuilt in a rush after June. That means you can look at a profit figure in February and trust it, and it means year-end work is a review instead of a reconstruction. It also catches problems while they are small. A supplier invoice entered twice, wages coded to drawings, or a loan repayment booked as an expense will show up in the quarterly reconciliation rather than eleven months later. We work with whatever software you already use, and if your records are behind we set out what it will take to bring them up to date before agreeing a fee.
What's Involved in Preparing Your BAS
We need access to your bookkeeping file or your transaction records for the period, along with bank statements, payroll reports and any invoices that need clarifying. Where a transaction is unclear, we ask rather than guess, because a coding assumption made once tends to repeat every quarter afterwards. After lodgment we confirm the payment amount, the due date and the payment reference so nothing is missed. If a payment will be difficult to meet, tell us early. There are established processes for dealing with that with the ATO, and they work far better before a due date passes than after.
BAS Accounting Questions Answered
General Advice — BAS Accounting
This information is general in nature and does not take into account your personal financial situation, needs or objectives. Before acting on this information, you should consider whether it is appropriate for your circumstances and seek independent financial advice.