Bookkeeping Tips with Plus 1!

Entering new customers

When entering new customers, check to ensure that you have all customer information. This includes the customers Name, Address and ABN.

Use the ABN lookup to check whether the customer is also registered for GST.  

Adding new contacts 

When adding a new contact who is a subcontractor, please ensure that there is a subcontractor group set up within contacts and you then assign the contact to the relevant group.

If your business is in one of the following industries, please ensure all the above steps are completed within your Xero files. If you are unsure, please contact your accountant who will be able to assist you through this process.

• Building and construction services
• Cleaning services
• Road Freight and Courier Services
• Information technology services
• Security, investigation or surveillance services

Am I required to lodge a TPAR?

You must lodge a Taxable payments annual report (TPAR) if all of the below conditions are met:

• Your business provides any of the below services to other people or businesses
• Building and construction services
• Cleaning services
• Road Freight and Courier Services
• Information technology services
• Security, investigation or surveillance services
• You paid contractors or subcontractors to provide the below services on behalf of your business
• Your business has an Australian business number (ABN).