Tax record excel template

Discussion in 'Accounting & Tax' started by MissP, 13th Mar, 2017.

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  1. MissP

    MissP Well-Known Member

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    Hello,
    Sorry if this has been asked before.
    Does anyone have an excel template for their tax records they can share?

    thanks in advance
     
    MissP, 13th Mar, 2017
    #1
  2. Ross Forrester

    Ross Forrester Well-Known Member

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    Look at using a proper software program like Xero or quickbooks

    Excel is not so great for this.
     
    Ross Forrester, 13th Mar, 2017
    #2
  3. Redwing

    Redwing Well-Known Member

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    Many accountants here probably have a free checklist on their web-site, though it depends on what you are after and how comprehensive you need it to be

    The interweb is also a good source for a base template
     
    Redwing, 13th Mar, 2017
    #3
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  4. Perthguy

    Perthguy Well-Known Member

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    What are you looking for?

    I have a tax information system that I wrote in Excel. It's not very useful though. It's basically just a complex database that's not particularly human readable. It doesn't do any reporting and is a bit of work to get any info out of it. The main reason I wrote it is it does a lot of custom automated data transformations of records I download from bank statements. After that I dump out all the records into a MYOB readable text format and import into MYOB for reporting.
     
    Perthguy, 14th Mar, 2017
    #4
  5. MissP

    MissP Well-Known Member

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    Thanks for the responses.
    I will checkout the checklist -thanks.

    In relation to excel template. I was hoping to add all my incomes, deductions and expenses in a workbook to submit to my accountant... does anyone have one similar ? Thanks !
     
    MissP, 14th Mar, 2017
    #5
  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    IMO I have never found a client one any good. They are either way too general and raise more questions than answers or they are too complex and contain errors rending them somewhat lacking.

    I use a system that gets the client to submit their info if they choose in addition to our checklist. Our checklist is more yes / no based and if the answer is yes...more info is needed. Even then its not as simple as accepting what the client provides. There is often rework eg borrowing exp, depreciation, capital expense etc A client excel alone will NOT include all the things I need and often assumes I know things.. eg : Spouse info, banking details, occupation etc.

    Accounting software is only good for a business IF its accurate.
     
    Paul@PAS, 14th Mar, 2017
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  7. Tom Alaka

    Tom Alaka Well-Known Member

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    I have used modified xls sheets based on the template below, for both IP and general tax. This has worked a treat for last several years for me and my accountant. Credit to Corsa for the template.

    https://www.somersoft.com/attachments/rental-ledger-xls.10421/
     
    Tom Alaka, 14th Mar, 2017
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  8. devank

    devank Well-Known Member

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    Hay... you said mine was good :)
     
    devank, 1st Jun, 2018
    #8
    Perthguy, Redwing and Paul@PAS like this.