From 1 July 2017, the Government is enhancing the integrity of the tax system by allowing the ATO to disclose to credit reporting bureaus the tax debt information of businesses who have not effectively engaged with the ATO to manage these debts.
A common error that has surfaced when reviewing wages processed after 1st October 2016 is not allowing for the change in PAYG tax for employees from 1st October 2016 when paying regular net amounts to employees. We have noticed this has shown up
If you transfer amounts from and to the bank accounts that download into Xero care should be taken to make sure that the transaction is taken up correctly. By using the transfer tab when processing the reconciliation of the transaction and
A point to remember in Xero is that although your bank transactions are downloading into Xero, you should still monitor the balance of your bank accounts. This is easily achieved by running a Bank Reconciliation report. This report will show up any