Can someone please advise a better way to prepare annual accounts for my accountant? I prepared my papers last time in a nice neat order and he still slugged me a big fee. I only had 2 meetings with him. Did not receive any tax planning advice at all.
Anyone have a way of showing income versus expenditure etc on a spreadsheet? thanks
We have an article on our website that steps you through record keeping plus you can download our excel spreadsheet at:
http://www.propertydivas.com.au/Downloads/Annual_taxation_reports.xls
That spreadsheet is great! Would certainly make the accountants job much easier.
I use a similar one for my record keeping but include an extra tab for recording capital expenditure which calculates the depreciation etc as well as recording depreciation claims from the quantity surveyors report (I lodge my own tax return). However I find using a spreadsheet for depreciation quite cumbersome and do worry that I will make simple errors by accidentally overwriting formulas when updating it each year. Does anyone use accounting software to calculate their depreciation for each property such as myob or quicken? If so is this a fairly straightforward process?
Thanks
LisaHi Lisa,
Glad we could help out.
Depreciation Schedule/Asset register……you've just given me an idea for another spreadsheet I can work on, or perhaps it would be better done in Access !!
Hi Amanda
If only I could remember how to use Access!! It is such a great program but as I don't use it on a daily basis like Excel I would struggle to make a database from scratch these days.
Lisa
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