Institute of Certified Bookkeepers



Important Updates

Bushfires 2020 - Response

Accessing ATO Services - must use myGovID by 31 March 2020

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 – Acquiring Clearance Certificates
  8. ATO – How Much Can You Claim?
  9. ATO – Payments and Debt Management
  10. ATO Data Matching
  11. ATO Data Sharing and Protection
  12. ATO Debts Informed to Credit Rating Bureaus
  13. ATO Phone Numbers
  14. What Type of ATO Debt Plans Do We Want
  15. ATO Improvements
  16. ATO Info on Scams and Fraud
  17. The ATO and your Work Related Expenses
  18. ATO Attacks Black Economy
  19. ATO Attacks Cash Businesses
  20. ATO Handover Checklist for NFPs
  21. ATO Visiting Cash Businesses
  22. ATO Wants to Know the Cost of Doing Any Tax
  23. AUSkey
  24. Australia’s Digital Strategy
  25. Automating Accounts Payable
  26. Bank Feeds
  27. Bookkeepers Reference Guide 2020–2021
  28. Bookkeeping for Partnerships
  29. Bookkeepers Who Aren't BAS Agents
  30. Breach of Confidentiality
  31. Breakeven Analysis
  32. Budgets and Cashflow
  33. Bushfires, Bookkeepers Responding to
  34. Business Information Sheet – Private Expenses
  35. Calculators, A Library of
  36. Capital Acquisition Reporting
  37. Car Allowances and Reimbursements
  38. Cash Transaction Reporting
  39. Chattel Mortgage
  40. Checking your Work
  41. Common / Single Ledger
  42. Consignment Sales
  43. Contra Transactions
  44. Crowd Funding
  45. Cryptocurrency (Bitcoin)
  46. Cyber Security – Resources for Discussion
  47. Data Breach Notification
  48. Debtor Factoring
  49. Deductibility if you Don't Withhold Tax
  50. Deposits, Layby, Bonds and Part-Payments
  51. Description Fields or Not
  52. Detecting Problems, Mistakes and/or Fraud
  53. Director Payments and Employment Matters
  54. Disbursements vs Oncosts
  55. Dobbing in a Tax Cheat
  56. eInvoicing
  57. End of Month Checklist
  58. Excise Guidelines for the Alcohol Industry
  59. Explaining Different Business Structures
  60. Financial Controls Policy, Build Your Own
  61. Foreign Currency / Multi-Currency
  62. Gift Vouchers and Sale Discount Vouchers
  63. Government Attacks the Cash Economy
  64. Helping Business Computerise
  65. Hire Purchase
  66. Home Office Running Expenses
  67. Income Tax, Bookkeeping for
  68. Industry Based Bookkeeping Resources
    1. Hospitality
    2. Medical
    3. Not for Profit
    4. Real Estate
    5. Wine Industry and WET (Wine Equalisation Tax)
  69. Input Tax Credits, When is it Acceptable to Claim from a Credit Card Statement?
  70. Insolvency Concerns
  71. Inventory Landed Cost Calculation
  72. Loyalty Reward Programs and GST
  73. Making Client Payments
  74. Materiality Decisions
  75. Motor Vehicles and GST
  76. myGov Access While Overseas
  77. NDIS – Bookkeepers Assisting Providers
  78. New Charge Rates for Bookkeepers
  79. Not for Profit
  80. Novated Lease
  81. Offshoring According to the TPB
  82. Payment Gateways – Online and Mobile
  83. Point Of Sale System / Till / Cash Out
  84. Policy, Financial Controls
  85. Pre-Establishment Costs, Bookkeeping for
  86. Premium Funding, Bookkeeping for
  87. Prepayments
  88. Privacy Laws
  89. Private Expenses / Drawings / Loan Accounts
  90. Receiving Money and Controlling Debtors
  91. Reconcile Balance Sheet
  92. Records to Keep / Record Keeping
  93. Refunds of Workers Compensation Premium
  94. Reporting Cash Transactions
  95. Response to Technology Change
  96. Review your ANZIC codes - it is going to matter
  97. Sharing Economy
  98. Statements to ATO, Making False and Misleading
  99. Stocktake Rules
  100. Superfund, Paying Expenses on Behalf of
  101. Taxable Payments Reporting System (TPRS / TPAR)
  102. The ATO's Promise to You – Taxpayer Charter
  103. Technology you Should Use
  104. Tourist Refund Scheme for GST and WET
  105. Taxable Payments Annual Report (TPAR)
  106. Trade Finance
  107. Trading Cycle, Cashflow, Graphs
  108. Trusts
  109. Unearned or Deferred Income
  110. Viability Tool, Business (ATO)
  111. What Happened to my USB AUSKey?
  112. What is a Bookkeeper Allowed to do?
  113. What it Means to be an ICB Certified Bookkeeper
  114. Whistleblower Legislation and the Bookkeeper
  115. Why has my AUSKey Expired According to GovReports?
  116. Working with the ATO
  117. Your Payments are Seen by Government

Technical Webinars

External Resources

  • Updated: 28 January 2020