Tips

What should you look for in an accounting technician for your business?

Flexibility - Are they willing and able to work with your existing Accountant or Tax Professional?

Skills – Do they have relevant technical and personal skills and experience to match your business requirements?

Qualifications – Are they certified by the Institute of Bookkeepers?

Insurance – Do they have professional indemnity insurance?

Legal BAS work – Are they legally qualified to charge you to prepare your BAS?

Professional Membership - Are they a member of a national professional accounting  association to help maintain technical knowledge, such as the Australian Bookkeepers Network?

Expectations - Do they meet your expectations for demonstrating experience and professionalism?

BAS AGENT INFORMATION

Under the Tax Agent Services Act 2009 (effective March 2010) all bookkeepers providing BAS services must be registered with the Tax Practitioners Board in order to carry the title 'BAS Agent'.

Only registered BAS Agents are permitted to conduct BAS related activities. Further information about this legislation and BAS Agents can be found at www.tpb.gov.au.

When does a business need professional assistance with record keeping and bookkeeping?

Your business will likely encounter various occasions and situations that would benefit from the assistance and advice of a professional bookkeeper.

Not least of all, are the quarterly, half yearly and annual reporting periods mandated by the Australian Taxation Office (ATO). Our clients understand that effective tax and superannuation administration systems rely on a capable, sustainable and well regulated tax profession to help interpret them and abide by their various legislation, rules and regulations.

What is bookkeeping?

In a nutshell, bookkeeping is the systematic recording of a business’s financial transactions, but bookkeeping is also about understanding how a business works and then providing accurate figures that enable a business to know exactly how well it’s doing.

Why do you need to keep books and records?

The law requires all business owners, regardless of their size, to keep proper and accurate records of business financial transactions.

Why do you need a qualified bookkeeper?

Without a qualification, Bookkeepers cannot prepare a BAS and charge a fee for this service. Ask your Bookkeeper if they meet this legal requirement. Bookkeeping is a profession. The ATO officially recognises Bookkeepers, Tax Agents, Accountants and Auditors as ‘Accounting Services’.