GST Tax Reconciliation


Goods and Services Tax (GST) reconciliation is when the net of GST on sales and the GST on expenses is reconciled between the business financial records and the amount is reported to the Australian Taxation Office (ATO). At BYO Group, we are GST specialists.

BYO Group is a member of the Institute of Certified Bookkeepers. We’re a registered BAS Agent and a Xero Gold Champion Partner. The team members at BYO Group are professional bookkeepers and accountants; we are experienced career professionals and industry leaders based in Australia.


GST Tax Reconciliation Adjustments

Tax Reconciliation

According to the ATO, it may be necessary to make tax reconciliation adjustments or expense reconciliation adjustments to reconcile your profits and losses regarding your business taxable income(1). GST Tax reconciliation adjustments include income not shown in the accounts, which has to be assessed for tax purposes. This includes assessable balancing adjustment amounts on disposal of depreciating assets and other taxable income not included in the profit and loss statement. It also includes income subtractions in the accounts that isn’t assessable income, such as:

  • Profits from the sale of depreciating assets.
  • Other income not assessable, e.g. gross exempt income.

If you’re searching the Internet for a local, expert, reliable bookkeeping or accounting service ‘near me’ or nearby to help you with your tax, bookkeeping or accounting issues, call the BYO Group on 0402 100 421 or complete the convenient online form. for a callback today.




The ongoing support from BYO books has just been fantastic. Diane and her team is extremely responsive and reliably intuitive to my needs, demonstrating their commitment to great customer service and their superior knowledge base on bookkeeping issues and how to use Xero to full advantage.

I have no hesitation in recommending Diane and her team at BYO Books to any business needing a responsive and reliable bookkeeping service.

Alison McWhirter Photography

We were using a manual Excel system of record keeping prior to working with BYO Books. Diane made the transition to Xero as seamless as possible without too much stress or work from me.  We now use Receipt Bank and she manages everything remotely. Our records are always up to date and I can request any report I like and she usually sends it within a couple of hours. The service level is excellent and we are always compliant with all tax and employer  obligations. I only wish I had made the change to BYO Books years ago as I now have more time to run my business rather than being the bookkeeper for it.

Pure Distillery Company – Dean Lucas

After many years of unreliable reactive bookkeeping we were thrilled to find Diane McCaffrey and her team at BYO Bookkeeping Services. Diane assisted us in developing a systemised, time efficient and proactive bookkeeping system for our small business. I find Diane and her team to be highly professional and efficient and a true pleasure to work with. And she is a great bookkeeper: diligent and detail oriented, down to the last penny. Diane continues to be an integral part of our success and we truly value and are grateful for our association with her.

Eat Play Thrive – Vicky Kuriel