What is a Bookkeeper?

Bookkeeping is about understanding how a business works and then providing accurate figures that enable the business to know exactly how well it is doing. “Bookkeeping” is a vital, large part of the overall accounting process which involves recording, analysing and interpreting the financial transactions of a business or individual. A bookkeeper’s duty is to set up financial statements so that an accountant can easily perform legal and tax management in a timely manner. A skilled and compliant bookkeeper should be able to produce financial records that give business accurate information about its financial activities. These records are critical to the future success of any business.

What is a certified Bookkeeper?

To attain certification through the Institute of Certified Bookkeepers (ICB) a Bookkeeper needs to prove that they have performed bookkeeping services at a significant level for a period exceeding two years and has a proven level of bookkeeping knowledge. They must perform to a high level and be fully insured to protect their clients. Trust only a qualified professional bookkeeper with full association membership, Professional Indemnity Insurance and BAS Agent registration with your financial records.

What is a BAS Agent?

Recent legislation changes have led the ATO to introduce a registration process for Bookkeepers who prepare and submit BAS returns with a view to providing business with protection and security. The term “BAS Agent” typically applies to a business who contracts to a client to provide services to that client to do with their BAS obligations. The new legislation is about the qualifications, experience, competence, professionalism of us as an external person being relied on to assist you with the obligations of GST, PAYG Withholding (payroll), PAYG Instalment Payments, FBT Payments, WET, Fuel tax & LCT.

Only registered BAS Agents (and Tax Agents) are permitted to advise or help you “ascertain” (determine, establish, discover, make certain) your liabilities, obligations or entitlements of the areas of the BAS. Only registered Agents (other than yourself or your employees) are permitted to represent you in dealing with the ATO.

Exact Bookkeeping’s registered BAS Agent number is 15349008.

What can a professional Bookkeeper do for me?

Instead of wasting valuable time and energy trying to make sense of your books, you can get on with the much more enjoyable task of making money by contracting a professional Bookkeeper. A good contract Bookkeeper is able to:

  • Set up accounting systems and software properly
  • Enter transactions
  • Perform checks, reconciliations and end of year processes
  • Ensure they are up to speed with legislative requirements and management reports
  • Undertake payroll duties and compliance
  • Legally prepare BAS returns
  • Provide general business administrative support

What software do you use?

Exact Bookkeeping uses MYOB, a leading software solution. MYOB offer Australian taxation-specific solutions and auto-updates, for seamless data transfer and reporting. If you need the software at your premises, we can supply and setup a MYOB solution for your business.