Review one defined month at a time. Use this checklist to prepare the records for us:
- Compare each bank and credit-card statement with the accounting ledger. Investigate missing or duplicate feed transactions.
- Match payments to invoices and receipts. Identify transfers, owner drawings and mixed private use.
- Review unpaid customer invoices and supplier bills. Explain old or disputed balances.
- Keep payroll reports and equipment purchases separate for review.
- List unresolved transactions with their date, amount and the record still needed.
A record should explain the transaction and the basis of calculations, including the business portion of a mixed-use cost. The ATO generally requires most business tax records for five years, with exceptions requiring longer retention. Company and employment records can have separate requirements; do not delete them just because five years has passed.
Upload the review pack through your authorised portal account. This checklist organises the work; it does not lodge a BAS or pay a liability.
Checked 13 October 2026. General information; the rules for your circumstances and reporting period still apply.
