I know a lot has been said in other threads about accounting methods but I was wondering if any online accounting tools other than excel spreadsheets?
I don't know how to used Excel so I am finding it hard to do my tax and I owe the ATO many thousands of dollars according to the latest letter they sent me.
Have you tried Xero, MYOB etc...?
No dont make it too complicated or waste money on a software like Xero or MYOB . you dont need any software just excel is enough . It is very simple
if you cant do it just get some one to set it up as templet and you can use it every quarter and every year .
You would has for have one work sheet for each quarter like this .
and just do a log book for 12 weeks to work out your work % and claim only the % on the expense then you dont do another one for 5 Years.
Evertything you need reciepts except petrol you can estimate
Qaurter 01/07/2016 to 30/09/2016 ( 1st quarter 2017)
Income Gross fare Gst Net
11000 1000 1000
Expense Gross Gst Net
Mobile 550 50 500
Petrol 2200 200 2000
Repairs 660 60 600
Uber Fees 2200 0 2200
Total 5610 310 3100
if you want to do your own GST then put
1A = 1000
1B = 310
G1 = 11000
G11 = 5610
8A = 1000
8B = 310
9 = a-b = 690 this is your GST Payble
you dont need to fill in anything else .