Reconcile before reporting

Allomes Accounting · BAS preparation

Before reviewing your BAS figures, bring your bank and credit card reconciliations up to date. It is a practical way to find missing transactions, duplicates and items that need a closer look.

A bank feed is the starting point

Transactions flowing into your accounting software make bookkeeping easier. They still need to be checked against your statements and supporting records. A suggested match or expense category should be reviewed before you rely on the reports.

Start with each business account

Gather the statements for the period you are preparing, including business bank accounts, credit cards and payment platforms. Compare the statement balance at the end of the period with the balance in your accounting records. Investigate differences and any outstanding items rather than adding an adjustment simply to make the balances agree.

Check what each transaction represents

Look for missing or duplicated entries, bank fees, interest and transfers between your own accounts. Check that transfers have not been mistaken for sales or expenses. For payment platforms, review the sales, fees and settlements separately so a net bank deposit does not hide the underlying activity.

Keep the supporting paperwork together

Match purchases with the relevant invoices and receipts. Note private spending and mixed-use items for review. Reconciliation helps establish that transactions are captured; it does not, by itself, confirm the correct GST treatment. Keep unclear transactions on a questions list for your accountant.

Make the BAS handover easier

Send your accountant a clear list of accounts reconciled, documents still missing and questions that need answering. Include unusual transactions and explain what happened. A complete handover makes the review more efficient and helps resolve issues before reporting.

A regular bookkeeping session can make this easier next quarter. Start with one account, finish its reconciliation, then move to the next.

Need help getting your records ready?

Allomes Accounting supports small businesses across Newcastle and Lake Macquarie. Request a 15-minute phone call to discuss your bookkeeping and BAS preparation. Calls and callbacks are Monday to Friday, 4–5 pm.

Visit allomes.com.au or call 0401 439 139.

General information only. The right treatment depends on your circumstances.