In this episode of The Accounting and Bookkeeping Show, Jane and Tom take you through the final steps of the financial year with an in-depth look at Closing the Ledger. Before diving in, they break down Balance Day Adjustments, explaining why these final tweaks are essential for accurate financial reporting. Then, they guide you step-by-step through the ledger-closing process, detailing how to reset your accounts and determine profit or loss. Perfect for business owners and finance professionals, this episode ensures you’ll finish the year with a clear, complete financial picture. Plus, Jane and Tom answer a listener question on why some adjustments are reversed in the new period. Don’t miss this essential episode—your books will thank you!

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In this special Q&A episode, Jane and Tom tackle a backlog of listener questions covering everything from GST supplies and PAYG obligations to tax invoices and activity statements. Join us as we dive deep into the questions you've sent in from all over Australia. Whether you’re a seasoned bookkeeper or just starting out, these listener questions cover topics that will boost your accounting knowledge and help with real-life financial scenarios.

Got questions of your own? Send them to bookkeepingshow@gmail.com!

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In this episode, Jane and Tom take you through the essential world of Balance Day Adjustments (BDAs). They break down key topics like accruals, prepayments, depreciation, and more, explaining how BDAs ensure your financial reports stay accurate and compliant. Plus, they answer listener questions about unrecorded expenses, prepaid rent, and reversing entries. Got questions of your own? Email us at bookkeepingshow@gmail.com or follow us on Facebook to stay in the loop!

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