Reminders – August
Dates you need to know for
August 2023
August’s Tip
Open a separate business bank account.
It is important to keep your private transactions separate from your business transactions.
The same applies for your business credit card and personal card.
Reminders – July
Dates you need to know for
July 2022
16 Jul 2023 – Issue PAYG withholding payment summaries
23 Jul 2023- June monthly BAS due
30 Jul 2023 – June quarter SG due
June quarterly BAS due
June quarter PAYG instalment due
July’s Tip
Allocate time each week to bookkeeping
Make a good start for the new financial year. Regular reviews will let you know how your business is going and allow you to control your cash flow.
Reminders – June
Dates you need to know for
June 2023
21 Jun 2023 – May monthly BAS due
June’s Tip
Get all your tax and compliance obligations right
Have you got an ABN?
Are you registered for GST ? PAYG withholding Tax?
Do you lodge monthly/quarterly BAS with the ATO?
An appropriate accounting program and setup, will have this information at your fingertip, and create systems to streamline and automate your business processes for you to stay compliant.
Reminders – May
Dates you need to know for
May 2023
21 May 2023 – 2022 Fringe benefits tax (FBT) return due
April monthly BAS due
28 May 2023 – March quarter SG charge statement due
May’s Tip
Get accounting software that suits your business.
Always ensure you keep backups of your financial data as an added security measure. With desktop software, such as MYOB you will have to make a habit of regularly backing up your files.
Reminders – April
Dates you need to know for
April 2023
23 Apr 2023 – March monthly BAS due
30 Apr 2023 – March quarterly BAS due
March quarter super guarantee due
March quarter PAYG installment due
April’s Tip
On Your Accounts Receivable Monthly
Make sure you stay on top of your accounts receivable so that you are getting all the monthly payments you are owed. Regularly running an accounts receivable report will help you stay on top of past due payments that you are owed.
Reminders – February
Dates you need to know for
February 2023
21 Feb 2023- January monthly BAS due
28 Feb 2023 – December quarterly BAS due
December quarter SG charge statement due
December quarter PAYG instalment due
February’s Tip
Set Aside Money for Taxes
Be prepared for end of year taxes. Setting aside money each month for your small businesses taxes means you won’t have to cutback at the end of the year or use your overdraft to pay your taxes, you will already be prepared.
Reminders – January
Dates you need to know for
January 2023
22 Jan 2023- December monthly BAS due
29 Jan 2023 – December quarter SG due
January’s Tip
Keep Personal and Business Finances Separate
Never mix your personal and business finances, it will only make your bookkeeping more difficult. It’s far easier to find mistakes and errors, and keep every thing organised if you’re dealing with one type of account at a time.
Reminders – November
Dates you need to know for
November 2022
No Key Dates!!
November’s Tip
Avoid Cash
Using cash it is hard to keep track of spending. Using a debit or credit card will make it easier to keep track of amount spent, where it was spent and when it was spent.
Reminders – October
Dates you need to know for
October 2022
22 Oct 2022 – September monthly BAS due
29 Oct 2022 – September quarter SG due
September quarterly BAS due
September quarter PAYG instalment due
31 Oct 2022 – 2018 Income tax return due
October’s Tip
Get a great bookkeeper
As your business expands you may need to engage the assistance of a great bookkeeper, keep in mind that this service is also tax deductible.
Hiring a bookkeeper allows you to focus on growing your business while ensuring your record keeping is up to date.
