APL Accounting News September 2018
This month draws our current quarterly “Boy Band” theme to a close. Some of us are happier about this than others. This quarter we have been concentrating on working as a team to get all the annual reports and client days prepared and also delivered on time – so You Got It (The Right Stuff) …
MmmBop, between collating these annual reports, doing NSYNC jigsaw puzzles, booking hotels and flights, and Step by Step having Melbourne client day run smoother than the chests of any boy band, all while having to observe the boy band posters surrounding us, we have a feeling that we may have just passed with flying coloured boxer shorts.
Our quarterly reward is yet to be fully discussed (and of course agreed upon), but rumour has it that we are going to lawn bowls again for a rematch which is OK because I Want It That Way.
There are still a few opportunities to make our client days if you have missed our Melbourne event. However, there is no guarantee of any boy band type a cappella performances or any of us turning up in boxers around our knees – but that is probably not too disappointing.
Brisbane – TOP DOGS Thursday 6 September 2018 (invitation only) at Stamford Plaza, Edward St & Margaret St, Brisbane
Brisbane – Friday 7 September 2018 at Stamford Plaza, Edward St & Margaret St, Brisbane – live stream only available as now fully booked out!
Sydney – Friday 19 October 2018 at Sir Stamford, Circular Quay, 93 Macquarie Street, Sydney
Please note: We are going to attempt a live web stream from our Brisbane 7 September workshop. If you could be interested in viewing this event could you please let us know by contacting email@example.com so we can sort out registration for you.
End of quarter bookkeeping tips
As September is the end of another BAS quarter we thought we might review some of the information you need to finalise the quarter if you do your own bookkeeping.
Make sure all items are reconciled up to the 30 September. The bank account balances in your accounting software should agree with your bank statement at 30 September. If not, something could be missing or doubled up.
Your payroll report should balance with the wages that you have paid. If not, you need to find out why and rectify.
Has everything from your suspense account been posted to the correct account? The suspense really does kill accountants.
Have all expenses that have been paid for personally been included in a journal?
Have you closed or opened bank accounts that need to be set up in your accounting software? Do you have any new loans that your accountant needs to know about?
New loans are often for new equipment with GST included. It is really important that your accountant or whoever is preparing your BAS knows about these loans so that the expense and GST can be included on your BAS.
Don’t forget to lock your file! Always lock your file after you have prepared and lodged your BAS for the quarter. This prevents someone going in and making any changes.
It’s easier to ask for permission than beg for forgiveness
Every so often something unusual in the bookkeeping or payroll world will raise its head. If you are unsure it’s better to ask about it ahead of time, rather than ask after the fact which often requires amendments and relodging. These amendments may become time consuming and expensive to fix – and no one wants that!
While the staff at APL have been busy doing their work, the APL dogs have also been busy learning new skills. This has taken even more cheese than this newsletter could possibly contain!
Skateboarding is an incredibly useful skill to have and we dare say the dogs skateboard better than any of us. They will be trying to drop into bowls before too long (although probably just their food bowls … ).
Here is Chica on her skateboard (without her sausage friend, Strudel). She is a sk8er girl, she said see ya later boi, he wasn’t good enough for her!
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the informations applicability to their particular circumstances. In particular, please note that the APL dogs who often prepare this newsletter do not have opposable thumbs so have to type with their noses.