Bk4you Bookkeeping Services in Gladstone, Queensland | Local service

Bk4you Bookkeeping Services

Locality: Gladstone, Queensland

Phone: +61 439 791 007

Address: 16 Oasis Court 4680 Gladstone, QLD, Australia

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17.01.2022 Code of Practice - Deductible Business Expenses Listed below are deductible business expenses that are allowable for tax purposes. Accounting expenses ... Amortization Audit costs Advertising Bookkeeping fees Bank charges Cleaning Computer expenses Consultation fees Contracting fees Debt Collection Fees Depreciation Charitable donations* Discounts given Discounts taken Employee expenses Entertainment expenses** Equipment Rent Freight and delivery charges Insurance Interest expense Internet/web hosting Legal Fees Marketing and design Motor vehicle expenses Office Supplies Promotions Printing and photocopying Power Rent Professional Development Repairs and Maintenance Staff amenities Wages, salaries and bonuses Stationery Subscriptions Small Tools and equipment Travel and accommodation Telephone * Charitable Donations A gift of money to a registered charitable group is allowed but they must issue the business with a receipt and the business must keep this original receipt readily available as proof for tax purposes. ** Entertainment expenses only 50% of food and beverage can be claimed, so if a client is taken out for a meal then only half the cost is deductible. Listed below are non-deductible business expenses that, according to accounting and taxation rules, have to be capitalized and included in the bookkeeping system as assets. Inventory (Items purchased for resale) Purchase of a vehicle or any other high cost equipment such as computers or machinery Improvements to a fixed asset Repayment of principal on a financial loan Patents and trademarks Any purchases that are made for personal use and not to benefit the business are unable to be claimed as a business expense. Any business funds that are used to pay for goods or services for personal use will be classified as drawings and allocated to the owners equity account.

17.01.2022 I am now a registered BAS Agent

09.01.2022 A bookkeeper creates financial transactions by posting information to accounting journals or accounting software from source documents such as invoices to customers, cash receipts, and supplier invoices. She then reconciles accounts to ensure that complete, accurate and up to date records are maintained. Principal Tasks: Record purchases or disposal of fixed assets in a register... Pay supplier invoices in a timely manner and take all applicable discounts on their invoices Pay any debt as it comes due for payment Issue invoices to customers and ensure that payment is collected promptly Collect GST from customers and remit this to the ATO Record cash receipts and make bank deposits Conduct a monthly reconciliation of every bank account Conduct periodic reconciliations of all accounts to ensure their accuracy Maintain and reconcile a petty cash fund if required Provide information to the external accountant who creates the companys financial statements Assemble information for external auditors if an audit is required Maintain an orderly accounting filing system Maintain the chart of accounts Maintain the annual budget Calculate variances from the budget and report significant issues to management Comply with all government reporting and legislative requirements Process payroll in a timely manner Provide clerical and administrative support as required See more