Have you been burning the midnight oil in your office to finalise bookkeeping tasks or work on your business financial administration recently just so you could meet the QBCC reporting requirements?
It’s certainly one way to get yourself out of trouble but it doesn’t have to be like this. In this article I’ll give you some tips on how to take back time you might have wanted to spend enjoying with your family.
The dates for lodgement of annual reporting each year are:

- for SC1 and SC2: lodge from 1 November / due by—31 March
- for categories 1-7: lodge from 1 August / due by—31 December.
- For self-certifying category 1 (SC1) licensees, the minimum NTA is set at $12,000 for a fixed maximum revenue of $200,000.
- For self-certifying category 2 (SC2) licensees, the minimum NTA is set at $46,000 for a fixed maximum revenue of $800,000.
- Review your accounting system and ensure that you have your expense chart of accounts set up the right way. It is important that you have assets posted with the right account code in your system. There are also various report types that you can set up in accounting systems that will allow you to easily access the data.
- Make sure you enter your financial data every week and reconcile the ledger at least once a fortnight or monthly against your bank account.
- Review your financial position on a quarterly basis. In particular, look at the two critical areas of assets and liabilities.