Client: / Date:
This Accounts Preparation - Year End Questionnaire is designed to save you time and money.
The effort you invest to complete this questionnaire will be repaid because we’ll be able to complete your accounts accurately and efficiently, saving you unnecessary fees that might otherwise be incurred if we had to come back to you multiple times requesting more information.
Please complete this questionnaire and ensure you attach all relevant documentation, then sign and date this form below, and return your questionnaire and documentation to us.
If you have any queries or concerns, please do not hesitate to contact us.
Complete Business Strategies Pty Ltd
I/We hereby instruct you to prepare our Financial Accounts and Taxation Returns for the financial year ended 30 June 2016 in accordance with the enclosed Terms of Engagement.
I/We undertake to supply all information necessary to carry out such services, and will be responsible for the accuracy and completeness of such information.
You are hereby authorised to communicate with my bankers, solicitors, finance companies and all government agencies such as the ATO to obtain such information as you require to enable you to complete the above assignment.
Name: / Signature:Date:
2015 Annual Tax Preparation Questionnaire – To be read in conjunction with our standard Terms of Engagement Accounts Preparation - Year End Questionnaire 2015 / Page 1
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2015 Annual Tax Preparation Questionnaire – To be read in conjunction with our standard Terms of Engagement Accounts Preparation - Year End Questionnaire 2015 / Page 1Help us keep our records are up to date by confirming and/or completing the following:
Entity name:
ABN:
ACN
(if a company)
TFN:
Main business activity:
Address of business:
Registered address:
(if a company)
Postal address:
Telephone: / Business / Fax / Mobile
Email address:
(For our records)
Trustee(s):
(if a trust)
Contact name:
Address:
Telephone: / Home / Business / Fax / Mobile
Email address:
(For our records)
Trustee(s):
(if a trust)
Contact name:
Address:
Telephone: / Home / Business / Fax / Mobile
Email address:
(For our records)
If you wish to use electronic funds transfer, we will require the following information:
Bank and Branch:
Account name:
BSB number: / Account number:
2015 Annual Tax Preparation Questionnaire – To be read in conjunction with our standard Terms of Engagement Accounts Preparation - Year End Questionnaire 2015 / Page 1
1. If we are preparing your accounts for the first time:
/ Yes / No / ?Please provide:
1.1 A copy of your most recent financial statements.
1.2 A copy of your last tax return, income tax assessment and PAYG instalment notices.
1.3 Copies of any other correspondence with the Tax Office such as objections, penalties, Statement of Account, Garnishee Notice, Final Notice to Lodge.
Transactions2. Cash Balances
/ Yes / No / ?2.1 Reconciled cash book details on computer disk, email attachment, or uploaded via our Secure Client Portal (CLICK HERE FOR ACCESS).
2.1.1 Please provide name of program and version number.
2.1.2 Please provide password if applicable.
2.2 Copies of bank reconciliations as at 30 June.
2.3 Copies of bank statements as at 30 June.
OR If you are using a computer program but not supplying a copy of the computer file:2.4 Financial statements.
2.5 Detailed general ledger report.
2.6 Trial balance and bank reconciliation.
2.7 Copies of bank statements as at 30 June.
OR If you are not using a computer program:2.8 Cheque payment details.
2.9 Receipt details.
2.10 Bank reconciliations (if available).
2.11 Copies of all bank statements for the year ended 30 June.
3. Credit Cards
/ Yes / No / ?3.1 Please provide copies of any credit card statements.
3.2 If you made any business related payments on your personal credit card, please provide details.
4. Petty Cash
/ Yes / No / ?4.1 Balance of petty cash as at 30 June.
Accruals5. Accounts Receivable
/ Yes / No / ?5.1 Please supply a list of trade debtors as at 30 June.
5.2 Please supply a list of bad debts written off or to be written off at 30 June.
5.3 Please supply details of any provision required for doubtful debts.
6. Accounts Payable
/ Yes / No / ?6.1 Please supply a list of trade creditors at 30 June, including:
6.1.1 June PAYG Withholding (monthly or quarterly amount) paid in July.
6.1.2 Compulsory superannuation contributions unpaid as at 30 June.
Note: For each creditor provide details of the nature of the expense for which the debt is owed and whether the amount includes GST.7. Stock
/ Yes / No / ?7.1 Please supply the value of stock on hand at 30 June, including finished goods, work in progress, raw materials and goods in transit and the method of valuation (cost, market or replacement).
7.2 If the business has annual turnover less than $2 million, please advise if the value of stock at 30 June does not differ from the value at 30 June the previous year by more than $5,000.
8. Annual Leave/Long Service Leave Provisions
/ Yes / No / ?8.1 Schedule of annual leave entitlements as at 30 June, as follows:
Employee / Number of days owed / $ Entitlement8.2 Schedule of long service leave entitlements as at 30 June, as follows:
Employee / Days owed / $ EntitlementAssets
9. Investments
/ Yes / No / ?9.1 Please supply the following information:
9.1.1 Schedule of investments held at 30 June, including cash management and term deposit accounts.
9.1.2 Investments acquired during the year: copies of contracts, settlement statements and other relevant documents.
9.1.3 Investments sold during the year: copies of contracts, settlement statements and other relevant documents for the sale, the original purchase and any important transactions in the intervening period.
9.1.4 Details of investment income received during the year, including dividend statements, interest statements, trust taxation summaries.
10. Prepayments
/ Yes / No / ?10.1 Are there any expenses paid in advance that span two financial years? For example:
10.1.1 Subscriptions.
10.1.2 Maintenance agreements.
10.1.3 Insurance.
10.1.4 Advertising.
10.1.5 Internet access.
10.1.6 Retainers paid to barristers or solicitors.
10.1.7 Other – provide details
10.1.8 Please provide a copy of the invoice/renewal notice or otherwise indicate the period for which the expense is paid.
11. Plant & equipment (including vehicles)
/ Yes / No / ?11.1 Please provide the following details of plant & equipment items (including vehicles):
11.1.1 Items acquired during the year including date and cost. Please provide copies of invoices and estimates of useful life.
11.1.2 Details of items sold during the year, including date of disposal, consideration received, plus date and cost of original acquisition.
11.1.3 Details of items that have been scrapped, taken for personal use or traded in.
12. Capital Gains
/ Yes / No / ?12.1 Did you sell any assets such as shares, rental properties etc. during the year?
12.1.1 Please supply details of the purchase of the asset (such as copies of contracts, settlement statements and other relevant documents).
12.1.2 Please supply details of any expenditure incurred in relation to the asset that was not claimed as a deduction during the period of ownership.
12.1.3 Please supply details of the sale of the asset (such as copies of contracts, settlement statements and other relevant documents).
12.1.4 If you were not an Australian resident for the whole period you owned the asset, provide details of your residency status during the period of ownership.
Liabilities13. Leases and Hire Purchase
/ Yes / No / ?13.1 Please provide details of new leases, chattel mortgages or hire purchase agreements acquired during the year.
Note: Please provide a copy of the lease, chattel mortgage or hire purchase agreement.13.2 Please supply details of any leases, chattel mortgages or hire purchase agreements paid out or refinanced during the year.
14. External Loans
/ Yes / No / ?14.1 Details of borrowings during the year, including:
14.1.1 Loan statements detailing interest, repayments and loan balance at the end of the year.
14.1.2 Details of security provided for the finance.
14.1.3 Details of borrowing costs incurred.
15. Salaries and PAYG Withholdings
/ Yes / No / ?15.1 Please supply copies of PAYG Payment Summaries issued at year end.
15.2 Please supply a copy of your PAYG Summary Statement.
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16. Transactions Not Through the Business
/ Yes / No / ?16.1 Were all sales banked and purchases paid through the business trading account during the year? If not, please provide details as to how these funds were applied or how the purchases were paid for.
17. Goods and Services Tax
/ Yes / No / ?17.1 Please supply copies of all Business Activity Statements lodged during the year.
18. Legal Documents
/ Yes / No / ?18.1 Please attach solicitor’s statements and/or correspondence relating to any legal transactions during the year.
18.2 Please include statements and agreements relating to any new mortgages, hire purchase agreements, leases and loans.
19. Private Use
/ Yes / No / ?19.1 Please provide details and dollar amount of goods taken for private use.
Please advise whether or not this includes GST.19.2 Provide details of any payments or loans made by the business to the owners or their associates (if the only payments are wages or regular drawings, your cash transaction records will be sufficient).
19.3 Provide details of any business assets made available for the private use of the owners or their associates.
20. Other Information
If there is any other information that you consider relevant, or you have particular concerns or queries, please provide us with details in the space below. Attach information if applicable.21. Timing
/ Yes / No / ?21.1 Please indicate when you require the accounts to be completed:
21.2 Are these accounts required for a finance application?
Thank you for taking the time to complete this questionnaire
STANDARD TERMS OF ENGAGEMENT
This attachment sets out our terms of engagement. It is important you read it and make sure that you understand the scope of our engagement. By returning your questionnaire or other information related to your tax and business compliance you will be deemed to have accepted these terms.
Purpose and scope of engagement
Our engagement is to prepare and lodge income tax returns and financial statements which will be completed in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB). The extent of our procedures and services will be limited exclusively for this purpose only. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. However, we will inform you of any such matters that come to our attention.
Responsibilities
In conducting this engagement, information acquired by us in the course of the engagement is subject to strict confidentiality requirements. That information will not be disclosed by us to other parties except as required or allowed for by law, or with your express consent.
We wish to draw your attention to our firm’s system of quality control which has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of The Institute of Chartered Accountants in Australia which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program. Should this occur, we will advise you.
Clients are required to arrange for reasonable access by us to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us.
It should be noted at the outset that as a general proposition we rely upon our clients to provide us with accurate and timely information to enable us to properly perform our engagement obligations. Consequently, any rectifying work performed by us on the basis of incorrect or late information will be work which is outside the scope of our engagement and will be charged as additional services.
Before we lodge any tax returns on your behalf, we will forward them to you for approval and signing. We will endeavour to ensure that the returns are lodged by the due dates. If you are late in providing information, we will do our best to meet the time limits, but we will not be responsible for any lodgement penalties you may incur.
Fees
Our fees, which will be billed as work progresses, are based on recorded time required to complete the engagement charged at hourly rates, plus direct out-of-pocket expenses. Hourly rates are determined periodically, and depend upon the skill and experience of the team member, but also incorporates our costs of providing the service such as operating environment, computers and programs required to operate the computers. Time costed is always reviewed for reasonableness and adjusted prior to invoicing.
You agree our fees will be paid by you within 7 days from the date an invoice is issued. We reserve the right to charge a late payment fee of up to 10% per month that the invoice might remain overdue. Your returns may not be lodged until payment has been made, or alternate payment arrangements have been made. We also reserve the right to reissue this invoice after 21 days for our entire time-cost unless payment has been made in full. You agree to pay any costs, commissions, and legal expenses whatsoever arising from the collections of any overdue monies. Such interests, costs and commissions and legal expenses may be recovered by us as a liquidated debt.