Keep sales and purchase records together
Maintain a consistent record of invoices, credit notes, debit notes and supporting transaction documents. Keep business and personal transactions distinguishable in your books.
Review information before filing
Check business identifiers, invoice dates, tax details and document references before sending records for preparation. A clear review process helps surface missing information earlier.
Make reconciliation a regular habit
Discuss how your accounting data will be compared with relevant portal records. Track differences and the explanations behind them rather than leaving them until the end of a period.
Agree the responsibilities
Decide who prepares records, who resolves questions and who approves a return. Ask your advisor to confirm the returns and timelines applicable to your business.
This article provides general information. Requirements may change and depend on your circumstances. Discuss your situation before taking action.
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