INFORMATION REQUIRED FOR COMPLETION OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2015
Terms of Engagement
We hereby instruct Enable Business Limited to prepare our Taxation Returns for the 31 March 2015 year. I undertake to supply all information necessary to carry out such services, and will be responsible for the accuracy and completeness of information provided. You are hereby authorised to communicate with my bankers, solicitors, finance companies and all government agencies to obtain information required in order to carry out the above assignments.
All other terms and conditions of this engagement are the same as those referred to in the original Engagement Letter I/we signed when I/we became a client.
You are to represent me/us as my/our tax agent. All income tax returns will be signed by me/us however you are authorised to sign any other taxation return on behalf of myself/ourselves or any of my/our associated entities.
I/We accept the above terms of engagement. Client name
(please print): Signed: Date:
SUMMARY
✓
Income and expenses from GST workings or cashbook (accounting system or not) Confirmation of the bank balance as at 31 March 2015 from a bank statement Confirmation of the credit card balance at 31 March 2015 Loan summaries showing closing balance as at 31 March 2015 and interest paid for the year
Debtors at 31 March 2015
Creditors at 31 March 2015
Details of any new assets purchased during the year and supporting finance documents (If
applicable)
Confirmation of closing stock on hand at 31 March 2015 (if applicable) Interest certificates from the bank showing withholding tax deducted. Any dividend statements or bonus shares received including any overseas income Details of any income protection insurance paid and the type of policy held e.g. indemnity agreed
value of loss of earnings)
Provide donation receipts for any donations made during the 2015 year
COMPANY / SOLE TRADER
ACCOUNTING SOFTWARE
If you use the following accounting software packages, simply provide one of the following to us:
Xero – simply invite us as a user (If we are not already) with adviser status
MYOB – A copy of your .MYO back up with your username and password
Other – A copy of your back up with an install disk and your username and password
BANK STATEMENTS (NOT NEEDED IF USING XERO)
For all accounts operated by the business
Statements should cover the full period and up to 1 month after balance date e.g. 1 April 2014
to 30 April 2015 – These can be provided in form of .CSV file
Please order any missing statements from your bank or download from your internet
banking
Closing bank balance as at 31 March 2015 must be provided
ALL CHEQUE/DEPOSIT BOOKS FOR THE YEAR (IF NOT USING ACCOUNTING SOFTWARE)
For all bank accounts operated by the business, please clearly mark the nature of all
payments on the cheque butts - Please note any payments NOT subject to GST Personal expenses or drawings should be clearly marked
All deposit butts should be similarly marked with items other than business sales clearly
described
B. GENERAL BUSINESS RECORDS
Investment Account Statements
Please record and note nature of entries where this is not obvious
Copies of GST returns and Working Papers
Copies of Fringe Benefit Tax returns and supporting working papers
Dividend Interest PAYE Paid
SECTION A:
BANK STATEMENTS/CASHBOOK
C. STOCK ON HAND
Stock on hand should be counted and separate stock sheets should be prepared for stock purchased for resale, stock used in production and stock manufactured. These stock sheets are required to be retained for 7 years. Stock on hand should be valued at the lower of cost or market selling value. Obsolete items should be marked clearly as being of no commercial value. (NCV). Profit margins must not be included. If you need any assistance with stock valuation please contact us.
Date of stock take: ___________________________________
Value of stock on hand: $___________________________________ GST included/excluded
D. WORK IN PROGRESS
Work in progress at balance date should be counted and valued and schedules should be prepared as for inventories. Work in progress should be valued at cost of materials, direct labour and factory overhead after deducting progress payments. Profit margins should not be included.
Value of work in progress
$__________ GST included/excluded
E. CASH ON HAND
Amount of last banking for financial year
$__________ GST included/excluded Cash on hand at balance date (Unbanked takings)
$__________ GST included/excluded Petty cash float
$__________ GST included/excluded Till Float
$__________ GST included/excluded
F. ACCOUNTS RECEIVABLE (SUNDRY DEBTORS)
List amounts owing to you at balance date and indicate any amount you consider unlikely to be collected. Exclude those already written off during the year.
Total at Balance Date
$__________ GST included/excluded
Bad debts written off during year
Refer to Appendix A for debtors schedule $__________ GST
G. ACCOUNTS PAYABLE (SUNDRY CREDITORS)
List amounts owing by you at balance date indicating name of creditor, amount owed and nature of debt. Alternatively mark on cheque butts as soon as possible after balance date or highlight in cash book those items after balance date which should be included.
Total at Balance Date
Refer to Appendix B for creditors schedule $__________ GST
included/excluded
H. FIXED ASSETS
Provide a list of assets purchased and/or sold during the year specifying: • Date purchased/sold
• Amount paid/received • Method of payment
• Trade-in details if applicable
• Please provide relevant vouchers and hire purchase agreements
• Please provide details of any property acquisitions/sales and please supply copies of solicitors settlement statements
I. BUSINESS MOTOR VEHICLE(S) – FROM LOG BOOK
This section is applicable to privately owned vehicles only e.g. not owned by the business/company
If business motor vehicle(s) is (are) owned, please advise total distance travelled this year and distance travelled on business matters.
VEHICLE 1 VEHICLE 2
Make/Model
J. HOME OFFICE EXPENSES
If part of your home is set aside principally for use as an office/workshop/garage/storage area, please provide the following details:
Home landline/internet
$ Gas and power
$ House insurance $ Contents insurance $ Mortgage interest $ Rates $ Rent paid (If not a home owner)
$ Repairs and maintenance – specifically for the office room
$ Other expenses – please specify
$
Area used for business purposes Measurement Area of office
Area of workshop
Area of storage
Area of garage
Total Area Used:
Total area of house: Sq m/ Sq Ft
Percentage of office area of total house (To calculate: Area of OFFICE divided by total area of HOUSE)
K. ENTERTAINMENT EXPENSES
Mark these items clearly on the cheques butts or cash book with the following details: • Name of person(s) entertained
• Reasons for the entertainment
L. OTHER INFORMATION
Business expenses paid from personal funds
Provide a list of expenses paid from personal funds relating to the business
Has there been any change in the nature of your business since last balance date
If yes, provide a brief outline of this change
Have you raised, repaid or made any payments to new or existing mortgages and/or loans during the year
If yes, please supply details/documents including • Mortgage or lender • Principal sum • Security provided • Term • Commencement date • Rate of interest
Also attach copies of solicitor’s settlement or relevant legal documents
I accept the above terms of engagement.
I certify the information provided is true and correct.
Client name (please print):
Signed: Date:
APPENDIX A. ACCOUNTS RECEIVABLE/SUNDRY DEBTORS
Schedule of accounts owing TO you as at balance date
Please either complete this schedule or attach your own schedule
Name of debtor Amount (GST Inclusive) $ $ $ $ $ $ $ $
APPENDIX B. ACCOUNTS PAYABLE/SUNDRY CREDITORS
Schedule of accounts owing BY you as at balance date
Please either complete this schedule or attach your own schedule
