Contents
General FAQs:
Do I have to use the Automated Expenses function?
The Automated Expenses function is just an option to improve the speed and accuracy of your lodgement, you can choose to complete a manual BAS if that process works best for you.
What if I use more than one Bank?
As the Automated Expenses Function is only available for the use of one bank at a time currently, please make sure you are selecting the most appropriate bank account when importing your expenses.
How do I work out what are business and what are personal expenses?
Automated Expenses feature works best where you operate a different business to your personal bank account. Therefore, to ensure that only business expenses are imported, you should connect your business bank account
If you do use a mixed business and personal bank account, then you must check through transactions to ensure all your claims are business-related expenses, to be compliant with the ATO.
Do I still need to keep receipts if I have used the Automated Expenses function?
The ATO requires GST-registered businesses, including sole trader businesses, to keep a tax invoice for any purchase above $82.50 (including GST). For all purchases below $82.50, you still need to have some documentary evidence to support your GST claim (such as a bank statement). You must also keep your GST records for 5 years starting from when you obtained them .
What Banks do Airtax have a connection with?
Airtax has a connection with all the major banks in Australia, including NAB, ANZ, Westpac, Commonwealth Bank, Bendigo Bank, and 70 more. If your bank is not listed, please contact us.
What to do if you can’t find a category for an item?
If you cannot find a category, and the expense is directly relevant to your business, you can put this amount in “other expenses”.
What to do if the expense category you have selected seems incorrect?
If you believe that a categorised transaction is in the wrong expense field, you can reallocate this transaction to the appropriate field, or put it in the “other expenses” section if it is still a business related expense.
Security & Data FAQs:
How do I know my financial accounts aren’t at risk?
Our Automated Expenses function uses the highest standards of security and encryption to ensure your financial information is protected. By providing Airtax with read only access to your banking data, we do not have access to transactional services. This means that there is no possible way for Airtax to create a transaction within your account.
How do I know if everything has been pulled through?
Once the connection and import process is complete, it remains your responsibility to ensure that the information included in your BAS is accurate. So, we encourage you to check that all the Automated Expenses pulled through are correct. If you believe there are transactions missing, please contact us.
What happens if I can’t find a transaction for the period?
In the event that a transaction is not appearing in Airtax after you have imported the data, we recommend you check your bank account to ensure it is there and within the BAS period. Transactions will only appear within the quarter of your BAS. Note that any pending or other transactions that have not been cleared in your account for the period will need to be added in manually.
You may find our additional information about Automated Expenses security useful to answer any further questions.
Functionality FAQs:
The Automated Expenses function failed to work, what should I do?
Firstly, ensure that you have entered the correct banking details and followed the steps in our how to guide. From here, contact our Airtax Help Centre at help@airtax.com.au, or give us a call on 1300 247 051 and we will help resolve this issue for you.
How do I add a business use percentage?
Once you have successfully imported your expenses, you will be instructed to include your Business Use Percentage next to your imported data.
What do I do if I have incorrectly categorised a transaction?
Up until the point of submission, you can re-open and reallocate your expenses to the relevant categories. If you have incorrectly categorised a transaction, feel free to change this by reopening the Automated Expenses function, and choosing the correct category.
Can I undo the function/restart my BAS?
If you make a mistake with the categorisation of any of your expenses, you can simply re-import the data. If you wish to undo the function, please contact our support team at help@airtax.com.au, or give us a call on 1300 247 051 from 9am - 5pm Monday to Friday.
Can you import my income?
Unfortunately not at this stage, the Automated Expenses function is solely for importing your expense items only. However, if you are an Uber driver, or use QuickBooks, you can import your income directly into your BAS form by connecting your accounts to your Airtax account.
Do I still need to use Accounting software?
As expenses are imported directly from your bank account, there is no need to use alternate accounting software concurrent with the Automated Expenses function. However, if you find it easier to use such software, you can continue to use it and choose to manually input your data as normal
Still have questions?
We recognise these things can be complicated, so feel free to contact our support team between 9am - 5pm Monday to Friday to discuss any other questions.
Did you know Airtax also has a number of other services, including Income Tax Lodgement, ABN and GST registration and also immigration support?
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