Issue 02

Completing business activity statements in Xero

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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.

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About the author

Zowie Hondow, Xero trainer and consultant, Jet Convert

Prior to completing a Bachelor of Commerce (Accounting) in 2012 Zowie spent over 10 years working within small businesses. She has previous experience in management, bookkeeping and public practice accounting. It was during the latter that she was first exposed to Xero and received Xero Certification. She enjoys training and assisting clients to ensure an easy transition to Xero at JetConvert.