Payment Operations
Part of Creator financial organisation
Preparing records and questions for a qualified accountant
Prepare a traceable document set, exception list and clear questions for an Australian accountant or registered tax practitioner.
Before meeting a qualified accountant, prepare records that show what happened, where each figure came from and which questions remain open. Group the handover by what the records explain, and flag uncertain items rather than turning them into confident totals.
Agree on the work
Confirm whether the engagement covers a bookkeeping review, BAS work, a tax return or advice on particular transactions. Agree on the period, business structure, deadline and fee basis, and keep a written record of the agreed terms.
Before sharing records, check the practitioner using the Tax Practitioners Board (TPB) Register. If you are unsure how to use or interpret the register, consult the TPB’s “Help with using the TPB Register” guidance or ask the practitioner to clarify their registration.
Agree how to transfer files securely. For digital records, a secure cloud-storage location is one option; agree on access arrangements and keep a backup.
Make a document map
Gather records for the agreed period. Group income and sales records to explain earnings, expense records to explain costs, and records for assets or stock to explain those transactions. Include bank records, GST records if registered, fuel tax credit records if claiming, and employee and contractor records where relevant; add end-of-year creditor and debtor records.
| Group | Records to gather where relevant |
|---|---|
| Income | Client agreements and invoices, sales exports, platform statements and refunds |
| Spending | Supplier invoices, receipts and asset-purchase records |
| Cash | Bank and card statements, processor settlements and transfers between accounts |
| Tax and prior work | GST records if registered, earlier returns or activity statements and prior advice |
Keep source documents alongside summaries so figures can be traced. The ATO says records of transactions relating to tax, super and registrations must be kept, and records must be in English or readily translatable. Under tax law, records supporting deductions must explain transactions and be kept for five years, although some records need longer.
Key record-keeping requirements in Australia
- Minimum retention period
- 5 years
- Languages for records
- English or readily translatable
- ATO record types covered
- Tax, super, registrations
- Mixed-use expense rule
- Only business portion claimable; must be supported by records
Flag decisions instead of guessing
Make a short exceptions record for each unresolved item, with a reference, amount, date, source document and question. Examples include a phone bill with private use, a recently purchased camera, a platform deposit that differs from its statement, a refund relating to an earlier sale, or a payment received before work is finished.
Ask what evidence or treatment is needed for each item: how should private phone use affect the business portion, how should the camera be treated, what explains the deposit difference, does the refund relate to an earlier period, and how should the early payment be handled?
For mixed-use spending, provide usage notes and the calculation behind any proposed business portion. ATO guidance says only the business-use portion of an otherwise eligible mixed expense can be claimed, and records must support the claim; ask the practitioner to assess the method and treatment.
Show what has and has not been matched
Check that bank accounts used for the activity are represented in the handover. Match client receipts to invoices and platform deposits to statements where possible, and identify transfers between your own accounts. Mark unexplained differences as unresolved rather than forcing them into a miscellaneous category.
Ask the accountant which gaps need follow-up evidence or clarification. Keep a copy of what you supplied, the questions you asked and any classifications or follow-up evidence requested for the next period.
