Finance, Tax & Accounting: page 3
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Missing 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 readPhone and Internet Business Use: Support the Percentage
Build a phone and internet usage sample, link it to the actual bill, separate private use and revisit the allocation when your working pattern changes.
2 min readPOS deposit and final payment: reconcile one order without double sales
Keep a customer deposit and final payment attached to one order. Reconcile receipts, outstanding balances and fulfilment without duplicating the sale.
2 min readPrepaid Business Expenses: Track the Service Period
Build a prepaid expense schedule for insurance or software, separating the payment, service coverage, monthly accounts and tax-timing questions.
2 min readReconcile your GST control account to lodged BAS amounts
Trace a GST control balance through sales, purchase credits, BAS transfers and payments. Use a roll-forward worksheet to explain old or unmatched amounts.
3 min readRecord transfers between business bank accounts correctly
Follow a transfer through two business bank accounts, match both feeds, handle money in transit and correct income or expenses recorded by mistake.
4 min readRefund after the payout: reconcile the later deduction
Link a customer refund to a sale paid out earlier, then explain the later settlement or bank debit. Keep an audit trail for fees and tax adjustment review.
3 min readSecurity deposit or part payment? Check the GST treatment
Compare genuine security deposits and advance payments through receipt, application, refund and forfeiture, using the contract and GST rules at each step.
3 min readSole trader business losses: prepare the non-commercial loss checks
Separate accounting and deferred tax losses, then gather the income, activity and asset records needed for a non-commercial loss review with your tax agent.
3 min readSplit a receipt with business and private purchases
Split a mixed receipt line by line, separate GST from private spending, and use a worked six-item example that reconciles back to the full bank payment.
3 min readStocktake Valuation: Explain the Closing Inventory Figure
Turn a completed stock count into a traceable valuation schedule, with unit-cost evidence, damaged-stock notes and unresolved differences for your agent.
2 min readStore credit records: track the obligation until it is used
Keep store credit linked to the original sale, agreed remedy and later redemptions. Reconcile the remaining customer balance with a printable ledger.
3 min read