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Account
A record in the accounting system that tracks all financial activity related to a specific item, such as cash, inventory, or sales revenue. Each account falls under categories like assets, liabilities, equity, income, or expenses, and they form the backbone of the general ledger.
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Annual GST Return (BAS)
The periodic Business Activity Statement Australian businesses lodge to report GST and other tax obligations.
ATO (Australian Taxation Office)
Australia's federal revenue collection agency, responsible for tax administration and compliance.
ABN (Australian Business Number)
A unique 11-digit identifier businesses use for tax and invoicing purposes in Australia.
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