Chapter 13: GST review

Conducting a self-review of GST returns before submitting them to managers is crucial for ensuring accuracy and completeness. This proactive step allows you to identify and rectify any errors or discrepancies, thereby enhancing the quality of your work. By meticulously reviewing your calculations and documentation, you demonstrate professionalism and attention to detail, which are highly valued in the accounting field. Moreover, a thorough self-review can save time during the managerial review process, as it reduces the likelihood of revisions and queries. Ultimately, this practice not only boosts your confidence in the accuracy of your submissions but also contributes to the overall efficiency and reliability of the team's output.

GST self-review process

Client’s email has been saved to the client folder
Check bank statement closing date in Xero including credit card
Bank reconciliation summary select the last date of GST period，to check if there is anything unfinished
General ledger check “suspense” (should be zero)
General ledger check if there is any “entertainment“ need to split to 50% no GST
Check any transaction made to personal name’s account (is it GST inclusive?)
Check GST report and coding
Cash on hand from last GST
USD account and cash journal, if any
Please give your manager a note/highlight the items that you're unsure about, if any

Finalisation ands Filing

Save GST report as “final” in Xero
Go to WFM Jobs Generate GST document approve download document
Prepare GST docs for signature in Dropbox
Once received, file GST in WFM (click on “sign”)

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