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Is it possible to self-lodge your Business Activity Statement (BAS)?

Article by Emma Warren

 

New statistics show that most small businesses in Australia use a registered tax accountant to assist with their income tax obligations. Supposedly, more than 90% of small business owners have this service completed by a qualified tax accountant. 

However, the statistics are drastically different when it comes to bookkeeping services. Only half of small businesses use a bookkeeping agent or product to support their Business Activity Statement (BAS) lodgements. 

Despite common belief, sourcing a bookkeeper does not make the process more time-consuming and difficult by introducing a middle man. It also doesn’t have to be a big business expense. 

In fact, modern bookkeeping solutions take place 100% online and they allow for cost-effective, simple document management and BAS lodgement. More about that if you read on…

It is tricky to do your own bookkeeping?

DIY bookkeeping is challenging if you have no prior experience in managing business documents.  You’re a professional in your specific business field, after all, not in accounting. 

GST reporting involves complex calculations and a highly-developed understanding of tax law. 

(Nah, it ain’t as easy as paying 10% here and there.)

GST legislation is actually only levied on around 60% of goods and services. While you don’t want to underpay your GST, you don’t want to be overpaying either. 

Ultimately, the answer is yes, you can self-lodge your bookkeeping. However, many small business owners find that it can consume hours of their time each quarter and even more time if they obviously make errors.

Who can help with preparing and lodging your BAS?

We don’t want to see you pulling your hair out… 

Thankfully, there is a simplified and partially automated bookkeeping service that can assist with your bookkeeping requirements. 

 

Rumpel is an end to end bookkeeping solution for Aussie small businesses. Our comprehensive accounting software covers off on all areas of bookkeeping: 

Our system operates entirely online, so the bookkeeping process is proudly paperless. It enables smoother, faster and streamlined BAS lodgement. Plus, you will reap the benefits of documents that are more organised than ever. 

Behind the scenes, there will be a dedicated account manager overseeing, preparing and lodging your BAS. With our experienced team, you needn’t worry about a thing.  

Plans start from just $120 AUD and are tailored to the activity level of your business. To check out our different costing options, browse our website further today.