Frequently asked questions

A bookkeeper is important for the following reasons:

• Keep your records accurately up to date
• Accurate processing throughout the year saves Accountant’s time – and money
• Ensure you meet you record keeping requirements up to legal standards
• STP, GST, PAYG tax and superannuation compliance are attended to – keeping the ATO away
• Free up your time to work on your business – an expert bookkeeper will do the same work in half the time
• Minimise the risk of fraud by having an independent set of eyes overseeing your accounts and conducting ongoing auditing and assurance

A BAS agent is a suitably qualified bookkeeper, registered with the Tax Practitioners Board (TPB) to offer BAS services as defined by the Tax Agent Services Act 2009 (TASA). A BAS Agent holds relevant qualifications and professional indemnity insurance.
A registered BAS Agent will:

• Prepare and lodge your mandatory Business Activity Statements (BAS)
• Ascertain or advise about the liabilities, obligations, or entitlements of a client with respect to BAS lodgements
• Record and report on a client’s financial transactions
• Provide advice to clients assisting them to comply with:
  • The Goods and Services Tax (GST) regime and
  • Related legislation such as:
    • Fringe Benefits Tax – collection only
    • Calculation of employee superannuation guarantee payments
    • Fuel tax rebates
    • PAYG
    • PAYI instalments
• Liaise with your tax agent/accountant
• Participate in the formulation and monitoring of budgets and cash flow projections
• Assist in the collection of accounts receivable by your business
• Represent clients (confidentially) in their dealings with the ATO in relation to a BAS provisions
• Provide payroll and superannuation services
• Complete and lodge the taxable payments annual report to the ATO, on behalf of a client
• Send a tax file number declaration to the Commissioner, on your behalf
• Apply to the Register for an Australian Business Number, on your behalf

Accountants are big picture specialists. They are qualified to give advice on tax management, and to plan a financial infrastructure for a business.

Bookkeepers are fine detail specialists. Bookkeepers record financial transactions into categories, produce reports for accountants and the tax office and help manage business cash flow. Provided they are registered BAS Agents, they are qualified to administer systems that fulfill a business’s BAS obligations.

If you have the time and the necessary skills for your own business to handle the bookkeeping – Yes, of course you should manage this yourself.

But if your time is better spent generating sales, or reducing costs, then you are probably better off outsourcing the bookkeeping. We will be faster and more experienced than you will be.

There are many things you need to know and a range of experience you need to have in order to be a good bookkeeper. You also need to keep up to date with changes in payroll, tax, GST, PAYG and other ATO legislation.

It is illegal to charge a fee for providing a BAS service unless registered as a ‘BAS Agent’. Specific academic qualifications and substantial levels of experience are required for BAS registration. Our BAS Agent number is 26000505

We have hourly bookkeeping fees and fixed package rates. Since we tailor our bookkeeping services to suit your needs, we need to have a chat with you to discuss which business solutions will best suit you.

A number of factors go into how we work out bookkeeping service rates: The size of your organisation, the type of business you’re in, whether you’re behind in your bank reconciliation, cash flow management and BAS, and also whether there are bookkeeping jobs you would like to do yourself, or have staff do.

We’ve found that some clients are keen to have a casual level of support with bookkeeping processes — set-up and periodic reviews of their bookkeeping software, training, advice on how to organise receipts and invoices, and assistance with BAS preparation — while others want a certified bookkeeper to provide a fully outsourced book keeping service that uses a specific accounting package.