What is bookkeeping?
Bookkeeping is a profession that stems back centuries, with bookkeeping records dating more than 7,000 years having been found in ancient ruins. Fundamentally, bookkeeping is the day-to-day process of recording the financial transactions of an entity so that a business can keep track of what they owe, what they are owed and how business is going.
Bookkeepers today do so much more than enter data into a system, they are accounting technicians, business process analysts, implementation experts, business advisers, compliance specialists, HR intermediaries and a welcome relief for business owners! It is the role of a bookkeeper today to provide guidance to business owners on the technological solutions that best streamline business processes to maximise efficiencies and empower with knowledge and drive business growth.
‘Bookkeeping’ and ‘accounting’ are terms used interchangeably and essentially have the same end goal, that is, assisting business owners to understand their businesses health and compliance obligations.
A bookkeeping career today is challenging, motivating and really exciting as we see exponential changes in the technologies that support the process, and an ever dynamic legislative environment to navigate.
What is a BAS agent?
The term ‘BAS agent’ is a title protected by law and applies to an individual or entity who meet the requirement of the Tax Practitioners Board (TPB) for registration as an agent as specified in the Tax Agent Services Act (TASA) 2009. Only BAS agents (or registered ‘tax agents’) can assist in determining a business’ obligations related to any item reported to the Australian Taxation Office (ATO) on a Business Activity or Instalment Activity Statement (BAS/IAS), unless they are the business owner or an employee. Some common sorts of information captured on the BAS/IAS include:
The basic requirements to become a registered BAS agent are:
Be a fit and proper person
Hold a minimum level of qualification accepted by The Board
Have a Professional Indemnity Insurance policy that at least meets the minimum standards
Undertake a specified amount of Continuing Professional Education ongoing
Adhere to the requirements of the TPB Code of Professional Conduct
What is an Accounting Technician?
Members and Fellows of AAT Australia are qualified bookkeepers whose skills and experience are acknowledged as far more than just the traditional ‘bookkeeper’ data entry. An Accounting Technician is an all-encompassing expert consultant, qualified and skilled to support the accounting needs of a business growing in todays’ world.
Membership with AAT will re-assure prospective clients that you are and Accounting Technician and the best equipped, most qualified professional to support their needs.
What do bookkeepers say about bookkeeping?
“I enjoy the freedom that comes with being a self-employed bookkeeper. The rules are the same for everyone, however the work is always varied and interesting” Vicki, AAT Member
Would a career in bookkeeping suit you?
A career as a self-employed bookkeeper would work for you if you are interested in:
Flexibility to fit around your family
Greater work/life balance
Assisting others to succeed
Tackling something new every day
Turning chaos into order
Continually growing and learning
If many of these factors appeal to you, there is a very good chance a career in bookkeeping is a great fi