There are still a number of tax errors folks tend to make even in today’s world of web accounting. But thanks to tax preparation online accounting software, these errors are now becoming fewer.
But still, with just one slip in entering information on your computer, this could end up costing you. So, to avoid taxation errors, you should look out for these tax-filing pitfalls.
Calculation errors and improperly filled out figures are the bulk of errors on tax returns. Mistakes, especially where the decimal point and comma need to be inserted, should be checked and rechecked.
Fortunately, there are now many accounting software for small businesses that can easily assist businesses with their taxation, just like Shoebooks online accounting software.
Shoebooks accounting software in Australia can help businesses avoid tax errors, with their Manage BAS Lodgments feature, which has made monthly, quarterly and annually BAS Reporting requirements simple.
With Shoebooks, there’s no complicated end of period processing and reporting to be done for completion of your BAS and IAS returns. To process your BAS return, you only have to make a choice of the period applicable and Shoebooks Online Accounting Software does all the work for you as far as completing the appropriate forms and documents.
Shoebooks Taxation module will enable you to prepare & lodge Business Activity Statements, Installment Activity Statements (i.e. PAYG Witholding), year-end employee obligations such as reconciliation statement & Payment Summaries, monthly superannuation remittance, as well as prepare and send quarterly “Superannuation Guarantee Contribution Report” to employees and contractors.
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