| Checklist for Trust | |||
| Trust Name : | |||
| ABN | Financial Year :2021-22 | ||
| S.NO | Particulars | Action | |
| 1 | Check bank balances & Reconciliation statements | ||
| a | A/c No : | ||
| b | A/c No : | ||
| c | A/c No : | ||
| 2 | Loan /Hire Purchases balance | ||
| a | Loan A/c : | ||
| b | Loan A/c : | ||
| c | Loan A/c : | ||
| 3 | loan to/from Associates | ||
| 4 | Separation of salaries & super of Associates | ||
| 5 | Payroll Tax reconciliation | ||
| 6 | Entries of Interest on Bank loan | ||
| 7 | Hire Purchase Interest entries | ||
| 8 | Hire purchase lease schedules | ||
| 9 | Reconcile ATO integrated A/c | ||
| 10 | Capital gain working forassets/ invsetment sold/trade off | ||
| 11 | Bad debt entries & confirmation | ||
| 12 | Non Deductible expenses if any | ||
| 13 | adjustments for personal use | ||
| 14 | Tax Withholding entries | ||
| 15 | Match wages with BAS lodged & Payroll Summary | ||
| 16 | BAS reconciliation | ||
| 17 | Check ATO Bench Marks | ||
| 18 | Depreciation entries | ||
| 19 | Any amortization | ||
| 20 | Reconciliation Dep schedule & Assets A/c | ||
| 21 | Employee’s FBT contribution | ||
| 22 | Profit reconciliation with ITR | ||
| 23 | Closing stock as on 30th June | ||
| 24 | Creditors Control A/c & Creditor list | ||
| 25 | Debtors Control A/c & Debtors List | ||
| 26 | Confirmation of Advance /Deposit figures | ||
| 27 | Check any Carried forward losses | ||
| 28 | Any C/F Capital losses | ||
| 29 | Expenses paid from personal bank/credit cards | ||
| 30 | Detailed annual investment statements | ||
| 31 | Annual rental statements for investment properties | ||
| 32 | Distribution tax statements for distribution received | ||
| 33 | Clear Suspense A/c | ||
| 34 | Beneficiaries details with amount or % | ||
| Status | Other Notes | ||
| 1 | Check all the BAS/Monthly PAYG are lodged | ||
| 2 | Financial statements & Income Tax returns are reviewed | ||
| 3 | Received the signed financial stats & Income tax returns | ||
| 4 | Income tax return is lodged | ||
| Prepared By___________________Date________________ | |||
| Reviewed By__________________Date_______________ | |||