Speak to us now: 1300 728 875
Speak to us now: 1300 728 875
This is a real business engagement within the last 3 years that took place between Darcy Bookkeeping & Business Services and an online retailer/second hand store. The client to remain unnamed was 2 years behind in bookkeeping, BAS and tax requirements. The Australian Tax Office (ATO) was threatening action at this point to realise outstanding tax debts owed by this business in favour of the ATO. The client at this point was very concerned about the long term viability of this business and the ability to pay outstanding debts. At this point Darcy Bookkeeping & Business Services was contacted as they are a highly reputable Redcliffe bookkeeping service provider.
The client spoke directly with the business general manager who oversees bookkeeping services for Darcy Bookkeeping to discuss his current situation. The client expressed his anxiety about the situation and wanted to know what options were available in order to satisfy the ATO and avoid any debt recovery action. The bookkeeper from Darcy Bookkeeping was able to give him an overview of the same way that they have been able to help a number of other clients in a similar situation many times before. Darcy Bookkeeping suggested that one of their Xero Redcliffe bookkeepers implement Xero and upload previous years bank statements via a csv or txt file into Xero as this would be the fastest way to reconcile the accounts in order to complete the outstanding BAS and tax returns for the business. The client was concerned that the bookkeeping catch up work would not be completed in time to avoid recovery action for the ATO due to budgetary constraints. Darcy Bookkeeping has a long standing relationship with the ATO as a Redcliffe Registered BAS Agent and as such would contact the ATO and negotiate a timeline that would satisfy the ATO as well as meet the budgetary constraints of the client. The client agreed to the proposal and Darcy Bookkeeping got started.
The specialist Redcliffe bookkeeper assigned to the clients account moved ahead with setting up a Xero file customised to the client's needs and imported the bank statements as agreed. The bank accounts in Xero were reconciled and the bookkeeper was careful to meet deadlines agreed to with the Australian Tax office as BAS lodgements were executed one by one. By the end of the process all BAS's had been lodged by the Redcliffe bookkeeper and tax returns were being prepared all within agreed timelines and within the agreed budget. The bookkeeper also ensured that all items were claimed to ensure the liability incurred by the client was minimised.
Needless to say the client was extremely grateful and the business continues to operate today and remains compliant within ASIC and ATO guidelines. If your business is in a similar position or you require a month to month bookkeeping services to ensure your business continues to stay up to date please call Darcy Bookkeeping on 1300 728 875.