Institute of Certified Bookkeepers

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Bookkeeping

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Context Introduction

Bookkeeping  today is far more than entering data and reconciling the bank.  Bookkeeping is thinking about the needs of the client, thinking about  the processes to get a result.

Firstly, what is expected for standard bookkeeping?

  • Processing purchases, sales, receipts, payments 
  • Processing payroll and maintaining entitlements and employee records 
  • Bank reconciliation 
  • Providing reporting for preparation of a BAS 
  • Producing reports for both client and accountant 
  • Record keeping

Good bookkeeping now includes above and beyond this standard process to  ‘think’ more about each stage and ask the questions ‘can we do this  better’ and ‘is bookkeeping part of the natural Business System?’ Have I captured all the relevant information required to produce an accurate result?

Also  note that a required standard should be that any other person being a  bookkeeper or accountant should be able to step in and work on the file  for the business without needing to reinvent or research too  significantly.

This is a library of all things to explain the concepts of bookkeeping and provide insight into the many different areas that a bookkeeper may be involved with in assisting a business.

Understanding Bookkeeping

  1. The Bookkeeping Process
  2. The Future of Bookkeeping, the Future of the Profession
  3. Balance Sheet: the Different Accounts
  4. Cash vs Accrual Accounting
  5. Chart of Accounts
  6. Debits and Credits
  7. General and Subsidiary Ledgers

Resource Library

  1. All Templates, Checklists and Authority Forms
  2. Annual Shut-Down Guide – Part 1
  3. Anti Money Laundering
  4. Are You A Trusted Advisor?
  5. Assets and Depreciation
  6. ATO – In-House Dispute Resolution
  7. ATO – How Much Can You Claim?
  8. ATO – Payments and Debt Management
  9. ATO Data Matching
  10. ATO Data Sharing and Protection
  11. ATO Debts Informed to Credit Rating Bureaus
  12. ATO Phone Numbers
  13. What Type of ATO Debt Plans Do We Want
  14. ATO Improvements
  15. ATO Info on Scams and Fraud
  16. The ATO and your Work Related Expenses
  17. ATO Attacks Black Economy
  18. ATO Attacks Cash Businesses
  19. ATO Handover Checklist for NFPs
  20. ATO Visiting Cash Businesses
  21. ATO Wants to Know the Cost of Doing Any Tax
  22. AUSkey
  23. Australia’s Digital Strategy
  24. Automating Accounts Payable
  25. Bank Feeds
  26. Bookkeepers Reference Guide 2018–2019
  27. Bookkeeping for Partnerships
  28. Bookkeepers Who Aren't BAS Agents
  29. Breach of Confidentiality
  30. Breakeven Analysis
  31. Budgets and Cashflow
  32. Bushfires, Bookkeepers Responding to
  33. Business Information Sheet – Private Expenses
  34. Calculators, A Library of
  35. Capital Acquisition Reporting
  36. Car Allowances and Reimbursements
  37. Cash Transaction Reporting
  38. Chattel Mortgage
  39. Checking your Work
  40. Common / Single Ledger
  41. Consignment Sales
  42. Contra Transactions
  43. Crowd Funding
  44. Cryptocurrency (Bitcoin)
  45. Cyber Security – Resources for Discussion
  46. Data Breach Notification
  47. Debtor Factoring
  48. Deductibility if you Don't Withhold Tax
  49. Deposits, Layby, Bonds and Part-Payments
  50. Description Fields or Not
  51. Detecting Problems, Mistakes and/or Fraud
  52. Director Payments and Employment Matters
  53. Disbursements vs Oncosts
  54. Dobbing in a Tax Cheat
  55. eInvoicing
  56. End of Month Checklist
  57. Excise Guidelines for the Alcohol Industry
  58. Explaining Different Business Structures
  59. Financial Controls Policy, Build Your Own
  60. Foreign Currency / Multi-Currency
  61. Gift Vouchers and Sale Discount Vouchers
  62. Government Attacks the Cash Economy
  63. Helping Business Computerise
  64. Hire Purchase
  65. Home Office Running Expenses
  66. Income Tax, Bookkeeping for
  67. Industry Based Bookkeeping Resources
    1. Hospitality
    2. Medical
    3. Not for Profit
    4. Real Estate
    5. Wine Industry and WET (Wine Equalisation Tax)
  68. Input Tax Credits, When is it Acceptable to Claim from a Credit Card Statement?
  69. Insolvency Concerns
  70. Inventory Landed Cost Calculation
  71. Loyalty Reward Programs and GST
  72. Making Client Payments
  73. Materiality Decisions
  74. Motor Vehicles and GST
  75. myGov Access While Overseas
  76. NDIS – Bookkeepers Assisting Providers
  77. New Charge Rates for Bookkeepers
  78. Not for Profit
  79. Novated Lease
  80. Offshoring According to the TPB
  81. Payment Gateways – Online and Mobile
  82. Point Of Sale System / Till / Cash Out
  83. Policy, Financial Controls
  84. Pre-Establishment Costs, Bookkeeping for
  85. Premium Funding, Bookkeeping for
  86. Prepayments
  87. Privacy Laws
  88. Private Expenses / Drawings / Loan Accounts
  89. Receiving Money and Controlling Debtors
  90. Reconcile Balance Sheet
  91. Records to Keep / Record Keeping
  92. Refunds of Workers Compensation Premium
  93. Reporting Cash Transactions
  94. Response to Technology Change
  95. Review your ANZIC codes - it is going to matter
  96. Sharing Economy
  97. Statements to ATO, Making False and Misleading
  98. Stocktake Rules
  99. Superfund, Paying Expenses on Behalf of
  100. Taxable Payments Reporting System (TPRS / TPAR)
  101. The ATO's Promise to You – Taxpayer Charter
  102. Technology you Should Use
  103. Tourist Refund Scheme for GST and WET
  104. Taxable Payments Annual Report (TPAR)
  105. Trade Finance
  106. Trading Cycle, Cashflow, Graphs
  107. Trusts
  108. Unearned or Deferred Income
  109. Viability Tool, Business (ATO)
  110. What Happened to my USB AUSKey?
  111. What is a Bookkeeper Allowed to do?
  112. What it Means to be an ICB Certified Bookkeeper
  113. Whistleblower Legislation and the Bookkeeper
  114. Why has my AUSKey Expired According to GovReports?
  115. Working with the ATO
  116. Your Payments are Seen by Government

Technical Webinars

External Resources

  • Updated: 26th November 2019
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