Make sure that you have documentation/records for each of the items below.
- Stock on hand at 30 June and the basis of valuation, e.g. cost,
market value etc. List of Stock written off as obsolete or dumped
- Have all reconciliations been completed in regard to group
certificates and wage records? Bank reconciliations and Cash Books
- Have all workers compensation, payroll tax and superannuation
requirements been completed?
- Assets - Details of additions and disposals (i.e. type, date of
change, consideration received or paid for plant, equipment and/or
- Borrowings - Details of loans taken out and their purpose; payout or
refinancing of borrowings
- Lease/HP/Rental Commitments - Details of changes in lease
commitments (original cost, term, monthly commitments, residual
- Details of the purpose, costs and itinerary of any overseas travel
- Vehicle odometer readings and a current log book (must be done every
- Business Activity Statements for each period.
- Instalment Activity Statements for each period.
- Details of change in private use percentage of a business asset.