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  1. #1
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    Default Question to accountants, book keepers, small business owners

    My DH works for himself, he owns his own truck/business. Every 3 months I have to do his BAS. Im wondering if there is an easier way. This is how I do it ATM:
    - At the end of the 3 months I print out the business bank statement (usually monthly so it doesn't seem too much)
    - I type in an Excel spreadsheet how much he earned and spent then calculate GST for each item.
    - Send it to Accountant for end of financial year tax

    Can I use a program that takes it directly from the bank statements as soon as it is purchased or do i have to automatically type it in? Purchases range from Insurance, Citylink to Fuel etc

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    Default Question to accountants, book keepers, small business owners

    I'm with ANZ and the online banking has an option to export the transactions to a .csv file which can be opened in excel.

    Otherwise an accounting package like MYOB, Quickbooks or xero (which is online) can be used

  3. #3
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    Default Question to accountants, book keepers, small business owners

    Quote Originally Posted by happygrl View Post
    I'm with ANZ and the online banking has an option to export the transactions to a .csv file which can be opened in excel.

    Otherwise an accounting package like MYOB, Quickbooks or xero (which is online) can be used
    I'm with Anz too! Is it easy to set up?

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    Default Question to accountants, book keepers, small business owners

    Do you have Internet banking? I'm pretty sure you can just select export when you are looking at the transaction history of your account and select .csv.

    I'm on my phone ATM so I can't check but I'll have a look in the morning

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    Default Question to accountants, book keepers, small business owners

    Thanks heaps!

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    I've just had a look and if you go into your account transactions in the internet banking and click on the Download Transaction History link just above the right hand balance column it will take you to a screen where you can choose the account, timeframe and software package. Select Microsoft Excel and click download. You can only do the last 120 days, so it would be a good habit to start to do this monthly. That way you can also keep an eye on the transactions and make sure there are no bank errors

    Should save you some time

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    Default Question to accountants, book keepers, small business owners

    How does he invoice out to be paid?

    It may be worth investing in a MYOB program or something similar.

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    Default Question to accountants, book keepers, small business owners

    Quote Originally Posted by happygrl View Post
    I've just had a look and if you go into your account transactions in the internet banking and click on the Download Transaction History link just above the right hand balance column it will take you to a screen where you can choose the account, timeframe and software package. Select Microsoft Excel and click download. You can only do the last 120 days, so it would be a good habit to start to do this monthly. That way you can also keep an eye on the transactions and make sure there are no bank errors

    Should save you some time
    Thanks heaps

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    Default Question to accountants, book keepers, small business owners

    There's a great web-based accounting system that beats MYOB hands down.
    It will reconcile all your bank accounts too.

    It's called Xero - just google it.

    On their website they have a list of accounts who use it too, as it's even more convenient if your account uses it too.


 

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