What financial information do I need to complete the online application?
In order to assess how much you can borrow, we'll review the strength of your business by looking at 12 months of reconciled financial history - processed online, with an instant answer.
To make an accurate assessment of your business performance, we require the following:
- Your Profit and Loss report. This must span 12 full months and be up-to-date (within 120 days of your application).
- Your Balance Sheet. This must be up-to-date (within 120 days of your application).
- 12 months of transaction history from your business trading account. This must be up-to-date (within 31 days of your application) and reconciled.
How do I reconcile my business trading account?
The process of reconciliation is done by matching the transactions on your internal financial record to the corresponding amount on your bank statement. Reconciling your business accounts offers several advantages including:
- detecting errors such as double payments, missed payments, calculation errors, etc
- spotting fraudulent transactions
- tracking accounts payables and receivables for the business.
Accounting software makes the reconciliation process easier and efficient. Bank transactions are imported automatically allowing you to match and categorise a large number of transactions at a click of a button. Select from the accounting packages above to learn more.
What if my accounts are managed by an accountant?
You can still apply for a NAB QuickBiz product, Equipment Loan or NAB Business card. Your accountant can either provide you with login details to connect to your online accounting package or alternatively, provide you with electronic copies of your financial information in the correct format to make use of the file upload capability. Please refer to the help guides above.