The ideal situation is to have both.

The bookkeeper performs the day-to-day functions, ensuring your books are up to date and compliant.  As they are “on the tools”, they can:

• notify you quickly of things you need to know…customers who haven’t paid, superannuation or BAS needs lodging and paying, employees using up all their sick or annual leave entitlements.
• ensure transactions are being dealt with properly such as assets being depreciated or fully expensed, depending on the ATO rules
• help you stay compliant by ensuring your BAS and superannuation are lodged on time, lodging your STP and keeping an eye on things such as Payroll tax and entitlements
• free up your time so you can go and do what you want…see more clients, fix more problems, generate more billable hours, spend time with your family.

An accountant will look at your books less often: once a year when they do your tax return or more often if you request them to.  They may query transactions in your books or ask for supporting documentation, but generally won’t do the day-to-day.  Awesome.  It is always good to have a couple of experienced eyes on your books.

A bookkeeper doesn’t need to have any formal qualifications or experience.  Anyone can claim to be a bookkeeper, even if they have only worked entering invoices in an accounting package.

A registered BAS Agent has been formally accredited by the Tax Practitioners Board.  They have to prove that they have done at the minimum a Certificate IV in Accounting and Bookkeeping as well as a minimum level of experience.  They can provide services and advice relating to bookkeeping and BAS preparation and lodgement.  They cannot provide Income Tax advice.

A registered Tax Agent is also formally accredited by the Tax Practitioners Board.  They are required to have higher qualifications than a BAS Agent and can give tax advice on all sorts of matters including BAS and Income Tax.  They cannot provide financial advice unless they have been accredited by the Tax Practitioners Board for that as well.

Both registered BAS and Tax Agents are bound by a Code of Conduct and are required to do a minimum amount of Professional Development every year.  There are strict penalties for any incompetent or fraudulent behaviour which can include losing your accreditation, fines and even jail time.

It all depends on what you need.  We scope your work thoroughly with you so that you know exactly what you are getting at a fixed cost per month.  No surprises.  For either of us.

We can easily add on extra services, either as once-offs or as part of the ongoing contract.

At the moment, our entire focus is on bookkeeping and administration for our clients.  But as any business, we are constantly improving and evolving so it may be something that we do in the future.  We are happy to refer you to accountants that we enjoy working with.

As Mellida teaches internal controls at university level, she is very well aware of how important privacy, confidentiality and security is.

• Any staff accessing your file have been vetted and only have access to the specific tasks that they are required to do.
• All company records remain with you.
• We will never share your information with third parties unless you agree in writing or we are required to by law.

We are well versed in Xero, MYOB and Quickbooks.  Having the expertise in bookkeeping and accounting, we also find it easy to navigate through Saasu, Zoho books and Wave software.

It is always best to have a contract when you are employing someone.  This contract should state what remuneration they are receiving, the basis of their employment (fixed contract, casual or part/full time), entitlements etc

They will also need:

• A personal details form with their bank account, next of kin/emergency contact, medical conditions and what to do in the case of an emergency
• Tax File Declaration form (an interactive PDF can be downloaded from the internet)
• Superannuation Choice form (an interactive PDF can be downloaded from the internet)
• A copy of the 10 minimum workplace entitlements (search National Employment Standards on the internet or go to the Fair Work website)