Accounting Interview Tips

Florianacct

Reconciling Payroll
Dear Florian,
I got one problem in reconciliation and I think you will bring that in track. The problem is I need to reconcile the bank statement but I do not do payroll and I can not see any amount being paid in the bank register, though it is already being processed, according to payroll officer. so how can i bring the amount in the bank register as paid if it is already been paid. And i know it is not being paid through electronic payment. I hope you will suggest me what I need to do just to get the paid amount into the bank register.
thank you very much
Yours
Madhav

Florianacct

Hi Madhav,

Hope you are well. Thanks for the question.

In this case, if you are not handling payroll and you also don’t see the payroll amount coming out of the bank accounts that you need to do reconciliation on, you really don’t have to worry about it. For confidentiality purposes, a lot of companies will set up separate accounts to process wages and salaries. They dont want finance staff knowing each others pay. In this case, Payroll staff will have to process the payments and do the reconciliations.

Good luck and regards,

Florian

Florianacct

Hi Florian,
Myself is Jaspreet and I need your assistance as I am doing volunteer with a company. They have a position available as a Tax Agent for their clients.Before I apply for that job I want to prepare myself.Could you please explain me what are the steps or duties of a tax agent.
Regards,
Jaspreet

Florianacct

Hi Jaspreet,

Hope you are well. To apply for tax agent role may sometimes require the candidate to have a Tax Agent Licence. The general responsibilities for a tax agent include the below:

•Preparing Individual Tax Returns
•Preparing Trusts & Company Tax Returns
•Reviewing tax returns prior to lodgement
•Providing general tax advice & tax strategies
•Liaising with the ATO

There could also be some business strategy related tasks, depending on the company’s requirements.

Good luck with your interview. Bring back some good news.

Regards,
Florian