Book keeping

Recently we are finding more clients are providing there information to us with coding errors, unreconciled accounts and various other issues. As a reminder, the fees we quote for tax completion do not include book keeping fees.

Accountants: We are responsible for preparing financial statements and complete tax returns. We also analyse the data produced by your book keeper to provide business and taxation advice, structural advice and corporate reporting and compliance.

Book keepers: Undertake tasks such as processing invoices, receipts, payments, payroll, reconciling all accounts, managing accounts receivable and payable, establishing and reviewing accounting systems.

Whilst an accountant is qualified to assist in the areas covered by a book keeper, it is important to be aware that there will be a substantial difference in fees charged by book keepers and accountants. In order to best utilise your budget, extensive consideration into which tasks are to be delegated to a book keeper or an accountant is advised. The role of an accountant in your business is more advisory and analytical in nature. An accountant is in the position through analysis of past performance, to offer financial projections and advice on future financial elements of your business.

Clients where we have found issues with their book keeping are being contacted to advise they need to hire a qualified book keeper, receive adequate training to ensure no future errors and/or provided a quote for us to fix it. We are not book keepers and our accountants will not complete your book keeping for you. We do have an inhouse book keeper (Angie) for minor assistance only.

Qualified book keepers are invaluable. They are quick and often charge between $66 and $88 per hour. They can provide training, attend to reconciliations, set up bank feeds, complete full or partial book keeping duties. Essentially they can tailor their services to suit your needs. Two book keepers that have helped a number of our clients are:

Lissa Burton of ResQ Book keeping – 0412 930 708 Email: Lissa@ResQbook keeping.com.au
Soonah Walkom of Astute Admin – 1300 236 597 Email: info@astuteadmin.com.au

We also have a few other book keepers we have worked with whom we can refer clients to.