Saturday, February 20, 2010

I haven't completed my BAS!

I get this from clients all the time.

The first step is to collect all your information - that's bank information, transactions and details (write on them is necessary) and make sure you have it all for the period. Then send it to a bookkeeper or - or DIY. Note, completing a small business BAS could take from 5 - 8 hours if you don't know what you are doing. A bookkeeper can usually do it in 3.

The worst part is not the ATO fine - it's that most of the time, these people haven't looked at their numbers for 3 months. Can you imagine not looking in the mirror for 3 months! How rough would your shaving be? What's stuck in your teeth and how long has nobody told me about it?

If your really interested in DIY BAS, write in the comments below.

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