Finance, Tax & Accounting: page 2
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Training Expenses: Document the Link to Your Business
Map a course to the work your business already does, separate new-venture subjects and keep fees, reimbursements and travel evidence ready for review.
2 min readCredit card repayments: avoid counting expenses twice
Separate card purchases, repayments, fees and refunds in your books. Follow a worked balance timeline and check that business expenses are recorded once.
3 min readCustomer overpayments: reconcile, refund or keep a credit
Resolve a customer overpayment without recording another sale. Trace a double payment, document a refund or agreed credit, and check the closing balance.
3 min readDuplicate bank feed transactions: check before deleting
Tell duplicate bank feed lines from duplicate ledger entries and real repeated payments. Follow an evidence-first decision tree before correcting the books.
3 min readForeign-currency invoices: keep the AUD GST conversion trail
Record the exchange rate, conversion date and GST basis behind a foreign-currency invoice, and separate the later payment difference from the tax amount.
3 min readGift cards in the books: track issue, redemption and outstanding balances
Build a gift-card register that reconciles issued value, redemptions and outstanding balances. Keep voucher classification and expiry questions ready for review.
3 min readGST on overseas software: check the subscription invoice
Review overseas software invoices for supplier identity, Australian GST and business details. Learn which missing facts and reverse-charge questions to flag.
3 min readHome Business Running Costs: Keep a Useful Work Diary
Record home business hours, shared household use and supporting bills with a practical diary, then check which records your expense method needs.
3 min readImported goods: reconcile customs GST and supplier bills
Match an import declaration, overseas supplier invoice and freight bill without claiming GST twice. Check importer identity and keep a shipment worksheet.
3 min readLock a bookkeeping period and handle later corrections
Protect finished bookkeeping with report baselines, lock dates and a correction log. Follow a late-bill example through approval, tax review and rechecking.
4 min readMatch one customer payment to several invoices
Allocate a combined customer payment across invoices and credits. Use a worked remittance table to reconcile the deposit and leave a short payment visible.
3 min readMissing bank feed transactions: fill the gap safely
Find the exact gap in a bank feed, check pending payments and import missing statement lines without duplicating transactions that are already present.
4 min readMissing tax invoice? Check the evidence before claiming GST
Track a missing supplier tax invoice, request a replacement and record an unresolved GST credit without losing the expense or claiming the purchase twice.
3 min readMixed Business and Private Loans: Trace the Money
Trace each loan drawdown to its actual use, keep repayments and redraws visible, and prepare the documents your tax agent needs for interest allocation.
2 min readPartial refunds on discounted baskets: reconcile the remaining sale
Work through a partial return from a discounted basket. Preserve item allocations, payment evidence and tax details so the remaining sale can be checked.
2 min readPartnership drawings and profit: reconcile each partner account
Compare partners’ capital, profit allocations and drawings using separate account schedules, with the agreement and tax questions kept visible for review.
2 min readPersonal services income: assemble a PSI evidence pack
Gather contracts, income by worker, equipment obligations and rectification terms for a PSI review, with a practical matrix that keeps missing facts visible.
2 min readPetty cash reconciliation: balance the float and receipts
Reconcile petty cash with a printable float worksheet, supported receipts and a physical count. Work through a missing receipt without hiding the difference.
3 min read