Do you understand Bookkeeping Whats and Whys?
Instantly find your strengths...and weaknesses
For sole traders and small businesses in Australia, understanding how to effectively and efficiently do bookkeeping is essential, but it doesn't have to be confusing and time-consuming.
Understanding why you need to do bookkeeping and knowing what you are aiming to achieve, is helped by using the system that suits you as an Australian sole trader. This sets the scene for learning about income and invoicing, expenses and receipts.
This FREE Quiz is designed to help you discover what you do know...and don't know...about effectively taking care of your bookkeeping requirements.
The Quiz is broken down into the 4 main areas of bookkeeping
Each section of the quiz contains 10 questions with a multiple choice answer of yes, no or maybe. Each section will take you around 3 minutes to complete, and at the end of the quiz, you will receive your results.
Section 1: Bookkeeping Whats and Whys?
If you don't understand the whats and whys, you can't do your bookkeeping effectively - you'll be making mistakes, possibly ending up not tax compliant and open to being questioned by the ATO.
Knowing what's expected of you and how to go about it efficiently, can avoid lots of hard work for nothing.
Section 2: Expenses and Receipts
Understanding what expenses you can and can't claim is essential to maximising your tax deductions and paying less tax.
Understanding how to calculate part business and part personal expenses, and how to enter GST correctly, is vital when tracking your expenses.
Section 3: Income and Invoicing
The success of your business comes down to your goods and services being paid for, and being paid for on time.
Discovering how to issue ATO approved invoices and collect payments is vital and a priority for any business.
Section 4: Reporting and Filing
Knowing your responsibilities when it comes to reporting and managing your money accurately, are critical parts of bookkeeping.
Reports don’t always need to be sophisticated, even simple business reports can help you make sound decisions based on facts and figures, as long as you know what to do.
This Quiz is Perfect For...
Direct Sellers, Health & Fitness Professionals
Tradies, Couriers and Ride Shares
Online and Home Based Businesses
Real Estate Reps and Consultants
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