As we head towards the end of the financial year, it is a good reminder to start preparing now. Here are just a few actions you can take in preparation:
1. Review your asset register: do you have any assets that you no longer own or have you purchased any new assets? Make sure you have invoices/receipts where appropriate.
2. Take stock: have you planned your end of financial year stocktake? Record all stock and/or consumables you have on hand.
3. Record any amounts owed to you and amounts owing by you.
4. Make sure you have legal agreement copies:
- Hire purchase or loan agreements
- Lease agreements
- All legal statements & agreements
- Trade-in details
- Lost, stolen or scrapped items
If you would like to do some tax planning and ensure you have ticked all the boxes – we are just a call away - (06) 858 8796.
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