The end of the 2016-17 financial year is fast approaching. For business owner’s this is a busy and important time of the year. Keeping on top of the tasks you need to do to prepare for tax returns, bookkeeping and putting things in place for the next financial year can sometimes be difficult, stressful and time consuming. Here are some ideas to make the process easier for you:
Preparation of your Xero File ready for your Accountant
Each Xero Organisation has its own unique email address where you can send important information for your Account enabling them to conduct your tax return in a proficient and timely manner. Here’s a link to tell you a little more about Files feature in Xero: https://help.xero.com/au/FilesEmail
The documents you should send to Files using your unique email address are:
Create 16–17 Folder and email the documents the accountant needs like:
Perfect Handover Tips
Accountants love to have questions from your bookkeeper to service you, the client working together in the client’s best interest. So, if your Accountant and Bookkeeper aren’t already connected, (which they should be) please introduce them so they can work together better for you as an efficient result perhaps saving your time and money.
A checklist of tasks you can use to accomplish your end of year business bookkeeping will help to make a difficult and complicated process, simpler, less stressful and you’ll be more organised and prepared you to tackle a new financial year.
Making an appointment with your Accountant or Bookkeeper in May/June is a vital time to review the current year and have discussions on how to improve working together for the future.
Please download Xero’s Year End Checklist here to help you get on track and prepared as best you can.
Disclaimer: The advice contained in Balance Books blogs and newsletters is of a general nature only and may not apply to your individual business circumstances. For specific advice relating to your situation, please contact your Accountant or other professional adviser to discuss further.