FAQS
WHAT IS THE DIFFERENCE BETWEEN A BOOKKEEPER AND AN ACCOUNTANT?
Accountants are big-picture specialists. They are qualified to give advice on tax management, and to plan a financial infrastructure for a business.
Bookkeepers are fine-detail specialists. They record financial transactions into categories, produce reports for accountants and the tax office and help you manage business cash flow.
WHY SHOULD I USE A BOOKKEEPER? WHY NOT DO IT MYSELF?
Think of it this way, you may not be qualified or have experience as a hairdresser, but you can purchase a pair of scissors and you can operate them. Over time you may learn the tricks of the trade, and you may even become good at cutting hair, but along the way you will probably suffer through some very “interesting” haircuts and you may end up at a salon paying exorbitant prices for a fix up. Occasionally it might take months (or years) to recover from a botched haircut.
Bookkeeping is the same. There are many things you need to know and a range of experience you need in order to be a competent, let alone excellent bookkeeper. You also need to keep up to date with changes in payroll, tax, GST, PAYG and other ATO legislation. As a business owner, do you have time for that?
WHAT QUALIFICATIONS SHOULD A BOOKKEEPER HAVE?
A certified bookkeeper will have a Certificate IV in Bookkeeping and Accounting (Financial Services) or equivalent, and continually invest in professional education. It is also best practise to be a member of a governing body like the Institute for Certified Bookkeepers (ICB) for example. For more information visit https://www.icb.org.au/about/welcome
Our team at The Essential Bookkeeper are all members of ICB.
WHAT PROTECTIONS DO YOU OFFER YOUR CLIENTS?
Safeguarding your data is paramount. The Essential Bookkeeper guard all communication and data using the latest virus and malware software, offer file and document management and secure storage via multiple backed-up servers accessed via secure portal and maintain professional indemnity insurance.
WHAT ARE YOUR FEES?
A number of factors go into how we work out your service rate: the size of your organisation, the type of business your in, whether your behind in your bank reconciliation, cash flow management and BAS, and also whether there are bookkeeping tasks you would like to do yourself, or have staff do. Please review the service section for more detail. Let’s book a no-obligation introductory session and we can also prepare a quotation for you.
WHAT IS XERO, MYOB AND/OR QUICKBOOKS?
These online, or cloud- based bookkeeping applications, will get you and your financial team organised, giving them simple access to the information that matters. They all offer bank-grade security access to your financial information via the internet. This can all be accessed simply from your mobile, iPad or computer any time of the day.
CAN I USE MY OWN PAYROLL SOFTWARE?
If Xero, MYOB or Quickbooks is your preferred software, but you prefer to outsource your payroll, we can organise remote access to your computer and prepare payroll using your preferred software. All the while, ensuring the payroll processing adheres to all taxation and industrial relations laws and your team is paid accurately and on time.