How to Prep for BAS with Less Stress

Marketing Manager
Jul 17
2 min read

Take Control Before the Deadline Creeps Up

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Business Activity Statement (BAS) time doesn't have to be chaotic. With the right systems in place, you can reduce last-minute scrambling and file with confidence.

1. Know Your BAS Lodgement Deadlines

Missing a BAS deadline can mean penalties and interest. Most small businesses lodge either monthly or quarterly. The key dates are:

Quarterly: Usually due on the 28th of the month following the quarter (e.g. July 28 for April–June)
Monthly: Due on the 21st of the following month

Pro tip: Add recurring calendar reminders and subscribe to ATO updates so nothing slips through.

2. Keep Your Records Updated Weekly, Not Just at BAS Time

One of the biggest stressors during BAS season is chasing receipts and reconciling months’ worth of data. Don’t wait.

Use these weekly habits:

Reconcile bank transactions
Allocate income and expenses
File digital copies of invoices and receipts
Review your GST codes (yes, even small errors can cost you)

If you use MYOB or Xero, turn on bank feeds and automatic rules to save time.

3. Separate Business and Personal Spending

Blurring the lines makes BAS a nightmare. One mixed transaction can trigger hours of correction.

Set yourself up with:

A separate business bank account
A dedicated business credit or debit card
Clear payment descriptions for easy reconciliation

4. Understand What GST You Can and Can’t Claim

Not all expenses are claimable, and incorrect claims can cause red flags with the ATO.

Watch out for:

GST-free purchases (e.g. bank fees, certain health services)
Items used partly for personal use (e.g. mobile phones, vehicles)
Entertainment expenses (often not claimable)

When unsure, ask your bookkeeper or accountant before you lodge.

5. Use BAS Prep Time to Check Your Cash Flow

BAS is more than just a tax chore—it’s a snapshot of how your business is performing.

Ask yourself:

Are your GST and PAYG withheld amounts what you expected?
Do you need to adjust your pricing or payroll?
Are you putting aside enough to cover liabilities?

Smart businesses use BAS time as a quarterly pulse check.

6. Don’t Leave Lodgement to the Last Minute

Even if your books are clean, unexpected issues can arise—login problems, software updates, or delays from your advisor.

Avoid these mistakes by:

Locking in a monthly or quarterly review date with your advisor
Setting a “soft deadline” one week before the actual due date
Using ATO’s online services or your accounting software’s BAS submission feature

Final Tip: Ask for Help Before You Fall Behind

If you’ve missed a lodgement, underpaid, or don’t know where to start—don’t stress. You're not alone. Reach out for support before penalties add up.

At ProfitCloud, we help Australian small businesses clean up their books and take control of compliance. Whether you're behind on BAS or just want it off your plate,

book a consultation and let’s simplify the process together.