Job Description

Finalization of Accounts and Financial Statements:

• Finalize books of accounts and prepare accurate Financial Statements for various entities.
• Perform reconciliation and verification activities to ensure the integrity of the Balance Sheet, including:
• Full reconciliation of all bank accounts, ensuring closing balances match with bank statements.
• Review and reconcile accounts receivable and payable; investigate and clear abnormal or outstanding balances.
• Reconcile the Fixed Asset Register/Schedule with the General Ledger, ensuring additions, disposals, and depreciation are updated accurately.
• Reconcile GST and ATO liabilities, ensuring closing balances align with lodged returns and ATO records.
• Perform inter-entity loan reconciliations and ensure reciprocal entries are consistent across entities.
• Reconcile Hire Purchase (HP) liabilities with applicable HP schedules.
• Conduct General Ledger analysis to ensure:
• Completeness and accuracy of income and expense accounts.
• Correct allocation of transactions and appropriate GST treatment.
• Identification and rectification of discrepancies to maintain financial accuracy.
• Prepare reconciliation schedules and collate supporting working papers to substantiate all closing balances in the financial statements.

Preparation of Tax Returns for Entities:

• Prepare tax returns for Companies, Trusts, and Partnerships based on finalized financial statements.
• Ensure accurate presentation of income and expenses under ATO-designated labels.
• Review tax return items for compliance with ATO rules on assessable income and allowable deductions.
• Prepare and maintain supporting schedules including franking credits, rental property schedules, capital gains schedules, and other required disclosures.

Preparation of Tax Returns for Individuals:

• Scrutinize the client-provided source documents to determine the nature and taxability of income.
• Verify proper classification of all income and deductions in compliance with ATO requirements.
• Complete individual tax returns, updating relevant schedules such as:
• Rental property
• Foreign income
• Sole trader/business income
• Capital gains
• Maintain and update working papers to support disclosures made in the tax return.

Collaborate with internal teams and respond to queries promptly. Attend periodic workflow and review meetings.

Software Proficiency Required: Xero, MYOB, QuickBooks