Fuel Tax Credits Updates

For the March 2016 BAS and onwards, you can:

  • use the rate that applies at the end of the BAS period
  • work out your litres based on the cost of the fuel purchased.

You clients can also use a range of documents to support the fuel tax credit claims for all their past and future BAS. Further info from Maurie at Bendigo Bookkeeping on 0418573667

Xero – Statement of Cashflows

For small businesses a healthy cashflow is crucial. That’s why the statement of cash flows report is so useful.

It shows you the money…where it came from, and where it went.

While the Profit & Loss (or Income Statement) can tell you if you’ve made a profit it may include income and expenditure that hasn’t been paid yet, or that isn’t in the form of cash, like deprecation.

The statement of cashflows only looks at cash and groups the money going in and going out into useful categories so you can better understand the health of your cashflow.

 

For more information about turning this on in XERO, please contact Maurie on 0418 573 667