Each year, we ask you for information to complete your financial statements and tax returns.

Some of the questions may feel familiar. Others might seem detailed or even unnecessary at first glance. But every question we ask has a purpose and often, a direct impact on your tax position.

Our role isn’t just to prepare accounts. It’s to ensure everything is accurate, complete, and working in your favour.

Here’s a closer look at what we ask for and why it matters.

Debtors (Accounts Receivable)

We’ll ask you to review your outstanding invoices and identify any that are unlikely to be paid.

Why this matters:
If you’ve already paid tax on income you won’t receive, we can write it off as a bad debt and claim a deduction. Simply put, you shouldn’t be taxed on money you never collect

Creditors (Accounts Payable)

We may ask for a list of unpaid bills at balance date.

Why this matters:
Capturing all expenses ensures your profit isn’t overstated which can reduce your tax bill.

Fixed Assets

We’ll ask you to review your asset list and provide details of any new purchases.

  • Are there assets no longer in use?
  • Have you upgraded equipment?
  • Do we have the correct details for new assets?

Why this matters:

  • Assets no longer in use can be written off for a deduction
  • The type of asset determines the depreciation rate
  • Better classification = better tax outcomes

Small details here can make a surprisingly big difference.

Finance Agreements & Loans

If you’ve purchased assets on finance, we’ll need the details.

Why this matters:

  • Ensures GST is correctly claimed
  • Allows us to claim interest deductions
  • Captures both the asset and the liability accurately

Without this, parts of your financial position can be missed.

Vehicles & Logbooks

We’ll ask about vehicle usage and whether you have an up-to-date logbook.

Why this matters:
Without a logbook, claims can be restricted. With one, you may be entitled to significantly higher deductions.

Bank & Loan Statements

We may request end-of-year statements, even if your accounts are up to date.

Why this matters:
This is a final accuracy check to ensure:

  • All transactions are captured
  • Balances are correct
  • Nothing has been missed

Think of it as the final reconciliation before we sign things off.

Stock & Work in Progress

If your business holds stock or has incomplete jobs, we’ll ask for values at balance date.

Why this matters:
Expenses must align with income. If stock hasn’t been sold or work hasn’t been invoiced, those costs may need to be carried forward rather than claimed immediately.

Payroll & Home Office

We may request payroll summaries or details of any home office use.

Why this matters:
These areas often unlock additional deductions and ensure compliance with Inland Revenue requirements.

Investments & Insurance

We’ll ask about investments and certain insurance policies.

Why this matters:
Some income isn’t automatically reported, and some expenses like income protection insurance can be deductible. This ensures nothing is missed.

Business & Personal Use Adjustments

We’ll ask about assets or vehicles that may be used privately.

Why this matters:
We’re required to adjust for private use. Getting this right ensures your accounts are compliant and accurate.

Anything Else?

We’ll always give you the opportunity to provide additional information.

Why this matters:
The most valuable insights often come from things you didn’t think were relevant. If in doubt, include it.

The Bottom Line

The more complete and timely your information is, the smoother and more valuable the process becomes.

You’ll benefit from:

  • Faster turnaround times
  • Fewer follow-ups
  • More accurate results
  • Better tax outcomes

We’ll provide you with a clear checklist of anything additional information we need for your year-end accounts. This keeps things simple and ensures nothing is missed.

We’re here to make tax time simpler and your business stronger.

Table of Contents