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Bookkeeping is a growing profession - it is demanding, exciting, challenging and above all, rewarding. It is about understanding how a business works and then providing accurate figures that enable the business to know exactly how well it is doing. For men and women of all ages and from all backgrounds it provides outstanding career opportunities.
The basic system of double entry bookkeeping was invented more than five hundred years ago by a Cistercian monk called Luca Pacioli. His system still endures today and is used throughout the world, making bookkeeping a truly international profession. This website will give an understanding of how to train to become a bookkeeper and how to become a member of the Institute. It will also help those who already have a qualification or have been working as a bookkeeper for many years but now want the support of a professional association to enhance career prospects.
A career in bookkeeping
Every business, no matter how large or small, is required by law to 'keep books'. This involves the recording of the financial transactions of a business, whether manually into ledgers or by entering everything onto a computer. So, if you are well organised and methodical, like working through documents and enjoy seeing a set of figures add up properly, bookkeeping could be the career for you.
People of all ages are becoming bookkeepers: Young people fresh from school or college can achieve a professional qualification that opens up a whole new world of business to them or may become the first step to becoming a qualified accountant. More mature people bring years' of experience to their role and are in great demand from businesses who want a safe pair of hands. Many are mothers wanting to find a well-paid career running a bookkeeping business from home whilst still bringing up their family.
As a subcontract bookkeeper you can expect to earn $35.00 per hour for basic bookkeeping ie: entering payments, invoices etc. If you perform reconciliations, produce reports you can expect up to $60.00 per hour.
What is a bookkeeper?
A bookkeeper 'keeps the books'
What is a BAS Agent?
What is a BAS Service - PDF | Link
What is a BAS Agent allowed to do - Link
What it means to be a BAS Agent - PDF
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 was implemented with a view to providing business with protection and security. It 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.
Registration of a BAS Agent can be checked at www.tpb.gov.au.
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 the business owner or their employees) are permitted to represent the business in dealing with the ATO.
By being a BAS Agent you must:
- be fit and proper
- have minimum formal qualifications (eg Cert IV Bookkeeping)
- continue to have sufficient, ongoing, continual relevant experience
- have an appropriate level of Professional Indemnity Insurance
- undergo continuing professional education
- maintain professionalism in accordance with at least the statutory code of conduct
Adherence with the code of conduct reinforces the concepts of:
- Honesty & Integrity
- Independence
- Confidentiality
A BAS Agent provides service competently using knowledge and skills to take “reasonable care” to ensure that tax law is applied correctly for the business.
A BAS Agent does not advise nor liaise with the tax office on Income Tax Matters. This is the role of a Registered Tax Agent. Such things as; reportable Fringe Benefits Tax Amounts or Reportable Superannuation Contributions on your end of year Payroll Payment Summaries. Such things as; the Tax deductibility of entertainment or other items, where your ability to claim back GST depends on the tax agents treatment of those items for your tax return.
A BAS Agent is committed to providing expert service and expert advice.
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