** Note: Paper lodgments will no longer be accepted after August 28, 2025.**

The Taxable Payments Annual Report (TPAR) is a report that certain businesses and government entities must lodge with the Australian Taxation Office (ATO). This report details the total payments made to contractors for specific services throughout the financial year.

Businesses that provide the following services and pay contractors to do so may need to lodge a TPAR:

• Building and construction services.

• Cleaning services.

• Courier or road freight services.

• Information technology (IT) services.

• Security, investigation, or surveillance services.

The TPAR must include specific details for each contractor, such as their name, address, ABN (if known), the gross amount paid to them, and any GST paid. It is important to note that you do not need to report payments for materials only, unpaid invoices after June 30, or payments to employees.

The deadline for lodging the TPAR for this financial year is August 28. 

Need help? Email  and we will help you navigate the report through your Software or via the ATO Portal.

1. Make sure you are reconciling the correct period, and that you haven't accidently entered the wrong transaction date on any entries for the month you are reconciling.

2. Check for transposed entries. It's a common error to transpose numbers (i.e. typing $1,251 instead of $1,215). Go line by line through  your bank statement comparing the amount shown on your books. Check off each correct transaction and you'll be left with the mistake!

3.Take a look at your reconciliation discrepancy. If your difference is DOUBLE a certain transaction amount from the month, there's a good chance you've entered that transaction twice and you just need to remove the second entry. If your difference is EXACTLY the amount of one of your transactions, you likely just missed entering it (or your bank feed had a hiccup) and need to do so now.

If your beginning balance ties to the beginning balance shown on your bank statement, but you aren't able to get your books to reconcile, it's time to call in help! Email us, and we'll help you get your bookkeeping back on track! 

Reconciling your bank statement on a regular basis is important because:

• You can quickly detect errors & discrepancies

• You can quickly spot fraudulent activities

• You can easily track cash flow

• It gives you accurate financial reporting

• You can save money! Think about all those subscriptions you don't use anymore! 

Say goodbye to financial stress and hello to peace of mind with our money-back guarantee bookkeeping services! 💯

We're so confident in our ability to keep your books immaculate, your finances organised, and your business on the right track that we offer a full money-back guarantee.

What does that mean for you? ✅ Accurate records, every time. ✅ Stress-free tax season. ✅ More time to focus on growing your business. ✅ A trusted partner dedicated to your financial success.

Don't settle for less when it comes to your business finances. Let us handle the numbers, and if you're not completely satisfied, you don't pay a thing. It's that simple.

Ready to experience bookkeeping with confidence? Contact us today for a free consultation! 📞

In today's dynamic economic climate, ensuring your business thrives means more than just a great product or service – it's about smart financial management!

💡 Why Good Bookkeeping is Your Best Friend:

• Clear Financial Picture: Know exactly where your money is going and coming from. This helps you make informed decisions, identify trends, and spot potential issues early.

• Easier Tax Time: Accurate and organized records make tax preparation a breeze, reducing stress and helping you claim all eligible deductions.

• Better Cash Flow: Understand your cash flow to avoid shortfalls and plan for future investments or expenses.

• Funding Ready: Clean books demonstrate financial health, making it easier to secure loans or attract investors for growth.

• Compliance & Peace of Mind: Stay compliant with regulations and avoid penalties, giving you more time to focus on what you do best – running your business!

💰 Where to Find Financial Support: The Australian government and various organisations offer a range of support for small businesses. Don't leave money on the table!

• Government Grants & Funding: Explore grants for specific industries, business growth, or even disaster relief. Check out resources like business.gov.au's grants finder.

• Financial Counselling: Services like the Small Business Debt Helpline (1800 413 828) offer free, confidential advice on managing debt and finding support.

• Business Advisory Programs: Many government bodies and private organisations offer free or low-cost mentoring, workshops, and advice on everything from digital solutions to financial planning.

• Tax Relief & Subsidies: Look into potential tax offsets, deductions, and wage subsidies that could ease your financial burden.

Pro Tip: Consider engaging a professional bookkeeper to keep your finances in top shape, saving you time and giving you expert insights.

Let's empower our small businesses to not just survive, but to thrive! What are your biggest financial challenges right now? Email today!