One of the advantages of using Xero is multiple users working in the organisation at the same time. However, this might lead to inconsistencies due to users with different skill levels coding transactions.
Whoever submits the Business Activity Statement (BAS) takes responsibility for the accuracy of the data. Here is our checklist for checking BAS data for the Australian Tax Office (ATO) in the most effective way.
A. Are the Accounts on the Dashboard Reconciled?
Firstly reconcile all of the accounts in Xero and made sure that all the bank accounts, credit cards and PayPal are up to date for the accounting period. Check in the account transaction area that there are no items for the period unreconciled.