Key areas we will cover in this chapter
- Tax accounting
- End of period processing
Defined term we will introduce
- Tax accounting: keeping your business records in such a manner that they satisfy the Tax Office requirements
- Trial Balance: an accounting report that lists the closing balance of all accounts for the period, used to prove all entries have balanced. Considered to be the end-point of the bookkeeping process.
- Franking credit: the amount of tax paid by the company on the income they pay as a dividend ...