Practices · Year-end
Year-end workpaper preparation for Australian accounting firms
Year-end jobs stall on the same things every season: unreconciled balance sheets, missing loan schedules, and workpapers built from scratch. We prepare the workpaper file in your templates, so your team starts at review, not at the bank statement.
What we handle
- Balance sheet reconciliations with support attached
- Fixed asset registers and depreciation schedules updated
- Accruals, prepayments and unearned income schedules
- Loan, hire purchase and Division 7A loan schedules prepared for review
- GST and payroll reconciliations tied to BAS and STP
What we prepare for each job
- Bank, loan and credit card balances agreed to statements at 30 June
- Debtors and creditors listings reconciled to subsidiary ledgers
- Fixed asset additions and disposals posted, with depreciation calculated using your method
- Accruals, prepayments and provisions schedules with source documents
- Hire purchase and loan schedules split into principal and interest
- Annual GST reconciliation comparing BAS lodged with the general ledger
- Payroll reconciliation comparing STP finalisation with wages and PAYG in the ledger
- Review notes listing every adjustment proposed and every open question
Your templates, your tools
We work in your workpaper system and your naming conventions, whether that is Xero Workpapers, a practice-wide Excel template, or another tool. The file looks like your team prepared it.
Where the line sits
We prepare. Your partners and managers review, decide on adjustments, and sign off on the financial statements and tax returns. We do not give tax advice to your clients or lodge returns, so professional responsibility stays with your registered tax agent.
Timing
Firms usually send work in two waves: early jobs from July to October, and the bulk ahead of lodgement program deadlines. We agree volumes before each wave so capacity is reserved when you need it.
Illustrative example, not a client case study
Illustrative example: a company and trust group
A practice sends a trading company and its family trust, both on Xero, with a shareholder loan and a vehicle on hire purchase.
- Balance sheets reconciled at 30 June, with statements and loan documents attached
- Hire purchase split into principal and interest; vehicle added to the asset register
- Shareholder loan movements scheduled for the manager's Division 7A review
- Review notes list five proposed adjustments and three questions for the client
The manager starts the job at review stage, with every balance supported.
Who does your work
- Prepared by: our AU/NZ bookkeeping team at the VedhaNirvana Private Limited delivery centre in Chennai, working inside your own Xero, MYOB or QuickBooks file.
- Accountable for delivery: Venkateswarlu Lagasani, Director, VedhaNirvana Private Limited.
- Lodgement and sign-off: stay with you or your registered tax or BAS agent. We prepare; we do not lodge.
FAQ
Do you prepare tax returns?+
We prepare workpapers and schedules that support the return. Preparing, signing and lodging the return stays with your firm as the registered tax agent.
Can you work in our templates?+
Yes. We start with a trial job in your templates so you can check that the output matches your standards.
How do you handle Division 7A loans?+
We schedule loan movements, repayments and interest from the records, and flag anything that may need attention. The Division 7A assessment and advice stay with your team.
Ready to start?
NDA first. Optional free trial file. We respond within 12 hours.