Some business clients chose to complete their own Business Activity Statements (BAS’s) perhaps to save a few dollars.
That is their prerogative, and we are fine with this if both parties know what their respective responsibilities are. Having said that, we are more than happy at Parker Accounting to complete BAS’s for you whether they are annual, quarterly or monthly.
There are several reasons for this. When we complete your BAS’s for you, it gives us the opportunity to check the integrity and quality of the bookkeeping. Some people may not feel comfortable with this, but in our view, well-intentioned feedback is good for the client (knowledge and potential savings) and good for our relationship. It can help Parker Accounting get to know your business better, thus potentially enabling conversations around cash flows, profitability, inventory control, pricing, etc. There is increased potential for us to help you avoid pitfalls by keeping abreast of the business’ performance at more regular intervals across the year. We also get the opportunity to know the client better as a person (or persons), providing opportunities for better communication and the offering of other services.
Completing a BAS can seem quite simple, and it’s a basic form. However, it’s the quality of the record-keeping that leads to a simple BAS that is important. Messy and inaccurate BAS’s and BAS-related figures, mean your internal accounts might not be as useful as you think and accordingly, could cost you more at the end of the year when we are asked to prepare your financial statements and tax returns. We encourage you to use our expertise, work more closely with us, and save money in the long run by accepting feedback or having us do the whole job.