Important Note Regarding Financial Statements

Unless you have an extremely small bookkeeping file with very few transactions, we do not generally prepare an entity tax return without accompanying Financial Statements. This is because a number of reconciliations and checks are required when preparing the financials in order to confidently prepare the income tax return and ensure that you are correctly meeting your tax obligations and not paying too much, or too little tax. If we are to just prepare an income tax return, we must have assurance that the Balance Sheet is correct. This is because making Balance Sheet adjustments is not part of the income tax return (only) engagement. It is important that the business owners maintain, and are able to produce true and correct reports if requested.

If we are to prepare an entity income tax return for your business without financial statements, unless there are minimal transactions we would also require from you:

• Confirmation of each balance sheet item with a work-paper / support to confirm that balance.

• If relevant, your confirmation that payment summaries have been lodged with the ATO and that the total amounts match the total W1 and W2 figures reported in the IAS / BAS lodged for each year.

We are a premium accounting service and we strive to maintain the highest possible standards for our clients.