Covid19 Bookkeeping Update for Business

We are trying to work through all your queries as well as continue our regular services. Be assured, we are here and working diligently for small business.

Over the coming fortnight we will be focusing on:

  • General processing of data in order for businesses to be able to have further clarity on cashflow.
  • Reconciliations of Super, PAYG & Wages.
  • Reconciling Payroll Tax and the process of retrieving payments for cashflow.
  • Revising Workcover up to 30/6/20 when there has been a workforce reduction.
  • Gaining further understanding and clarity on COVID19 business concessions and procedures. Along with assisting you or your Accountant on your current data.

Last Friday I joined a webinar with the ATO and Institute of Certified Bookkeepers (ICB) to learn more on all the topics above as well as other key topics below that are being lobbied or defined further by both these Organisations, for example:

  • What other concessions can small business investigate?
  • Can Super Funds accept payment plans?
  • When best to lodge your Jan-Mar BAS / PAYGI / PAYG in order to be ready for any concessions from the ATO or Government.
  • ATO payment plans – rolling up old ones to make a new one and taking advantage of any concessions.

As a BAS Agent there is much we can do to ensure your financial data is as accurate as possible.

We will update you more towards the end of this coming week, however, if you would like to book a catchup call to talk specifically about your financial situation, please email us with some suggested times and it will be arranged.  We can either do a Zoom video meeting or a phone call – which ever it best for you.

We will stay in touch and ask that you do too.