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Capital Purchases and BAS Reporting

Capital Purchases and BAS Reporting

Spending hours wrestling with your BAS, trying to figure out the complexities of capital purchases and the G10 label? You’re not alone.  Many business owners find this process time-consuming, stressful, and prone to errors. This valuable time could be better spent focusing on growing your business. There’s a better way.  GeekBooks can help you simplify […]

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10 Questions To Ask Your Accountant When Starting a Small Business

10 Questions To Ask Your Accountant When Starting a Small Business

Are you a budding entrepreneur fuelled by passion and big ideas? Starting a small business is exciting, but uncertainty can creep in when it comes to the financial maze of taxes, bookkeeping, and compliance.  An accountant can be your compass, guiding you through financial decisions to set your small business on the path to success.

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BAS Requirements in Australia

BAS Requirements in Australia: Do You Need To Lodge?

Are you a new Aussie business owner? There’s a lot involved in getting your business off the ground. One important aspect is complying with the ATO’s tax regulations. You can’t afford to lose any of your hard-earned profits to the tax man! You’re likely paying income tax, and if you have employees, PAYG withholding, superannuation,

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BAS Statements for Sole Traders

BAS Statements for Sole Traders: A Guide to Stress-Free Tax Time

Owning a business is like owning a car, and lodging a Business Activity Statement (BAS) is like checking your petrol gauge and refilling the tank when needed. Just as your car won’t run without petrol, your business won’t run smoothly without staying on top of your tax obligations. Keeping your BAS up to date keeps

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Bookkeeping for Small Businesses

What Is Bookkeeping for Small Businesses?

Running a small business comes with its fair share of challenges, but understanding your finances shouldn’t be one of them!  Bookkeeping isn’t just about keeping records; it’s about playing by the rules, especially those set out by the Australian Taxation Office (ATO). At its core, bookkeeping is the process of recording all a business’s financial

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Examining BAS Statement Examples

Examining BAS Statement Examples To Help You Lodge Your BAS

All Australian business owners, take note: A Business Activity Statement (BAS) isn’t just paperwork; it guarantees crucial compliance with Australian tax laws!  Lodging a BAS ensures your business is paying the correct amount of tax to prevent legal issues, build a reputation for reliability, and secure financial benefits through appropriate deductions and credits.  How can

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How To Do a BAS Statement in 11 Steps – A Complete Guide

As of June 2023, Australia is home to nearly 2.6 million actively trading businesses. A significant number of those businesses are subject to Business Activity Statement reporting. Think about it: that’s millions of “scorecards” the ATO needs to track to keep the game fair and square. Why? To make sure everyone contributes their fair share

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