Senior Bookkeeper Interview Questions and Answers

Treatment procedures for GST and BAS involve accurate recording of transactions, calculating GST amounts, lodging BAS on time, and reconciling GST accounts.

• Record all transactions accurately to ensure correct GST treatment.

• Calculate GST amounts correctly based on taxable supplies and input tax credits.

• Lodge BAS on time to avoid penalties and maintain compliance with tax regulations.

• Reconcile GST accounts regularly to ensure accuracy and identify any discrepancies.

• Keep detaile...read more

Accounts receivable are recorded as assets on the balance sheet, while bad debts are written off as expenses. Both impact the BAS.

• Accounts receivable represent money owed to the business by customers for goods or services provided.

• Bad debts are debts that are unlikely to be collected and are written off as expenses on the income statement.

• The treatment of accounts receivable and bad debts can impact the Business Activity Statement (BAS) by affecting the reported revenue and e...read more