This practical guide covers not only bookkeeping essentials but also a range of accounting and taxation issues that tax agents and bookkeepers need to be aware of when dealing with their clients. It has a very practical approach, with numerous worked examples, diagrams, checklists, tables and FAQs.
Topics covered include:
- an overview of basic bookkeeping and accounting principles
- how to prepare a set of financial statements for clients
- key taxation principles that bookkeepers need to be aware of, including income tax, GST, and FBT
- guidance on the practicalities of payroll and KiwiSaver
- comprehensive examples of how to prepare a GST return under both the invoice and payment basis.
A list of commonly asked questions is included at the end of each chapter.
New in this edition:
The third edition contains a new chapter on basic income tax principles supported by examples on how to calculate the income tax liability for an individual and company. Practical information on how to file income tax returns is also provided. This edition has also been updated to take into account recent changes in relation to payday reporting and Inland Revenue’s business transformation programme.